Discussion Week 1

Please make sure each response is at least 100 words and if you would like the reading material please let me know!!!

How does one determine which form of business is most suitable?

What is the purpose of accounting information?

Who are the users of accounting information and what are the uses?

 What are the four basic financial statements?  What are the purpose of each?  How do these statements interrelate?

 What are the four basic financial statements?  What are the purpose of each?  How do these statements interrelate?

How is accounting information communicated to the different users of financial information?

 Describe a specific concept of financial reporting?

What is a classified balance sheet?  Describe one of the sections