ACC 561 Week 1 DQ

DQ 01:

What do you find interesting about each of the four financial statements, which include balance sheets, income statements, statements of cash flows, and statements of owners’ equity?

DQ 02:

Accounting is often called the “language of business”. Why do you think accounting is called the language of business?

DQ 03:

Why are the financial statements important to internal users such as employees, managers and directors of a company?

DQ 04:

If you are an investor in a company, which statement do you look at first and why?

DQ 05:

How do accountants and accounting help to connect to the numbers? What tools are used to accomplish this?

DQ 06:

The income statement is ongoing meaning that it measures a company’s performance over time, (1 month, 3 months, a year): What are some questions that are answered by the income statement?