28 Sep Describe the four financial statements. Discuss the purpose of each financial statement and how one financial statement is related to the other.
ACCT212 Financial Accounting
Week 1 Discussion
Financial Statements
Describe the four financial statements. Discuss the purpose of each financial statement and how one financial statement is related to the other.
ACCT212 Financial Accounting
Week 2 Discussion
Accounting System
From your reading of Chapter 2 and your research, describe a business transaction. What are the different types of accounts a company uses? Discuss with examples.
ACCT212 Financial Accounting
Week 3 Discussion
Accrual Accounting
Let’s start the week by exploring accrual-basis accounting. Why do accountants use the accrual-basis method instead of the cash basis method of accounting? What are some of the benefits of using accrual accounting?
ACCT212 Financial Accounting
Week 4 Discussion
Compliance and the Sarbanes-Oxley (SOX) Act
In the context of the world of business, explain what we mean by the term compliance. Relating to this, is anyone familiar with the Sarbanes-Oxley (SOX) legislation enacted by Congress in 2002? What was contained in this legislation, and what prompted it? Can you provide a specific example of one of the major points of this legislation? Why was it enacted? Separately, does the term compliance apply to any other areas of business besides the SOX legislation?
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