W8D2

This week, you were asked to access a number of videos and websites. These are great resources to help you learn the materials this week. Consider what type of resource you find most helpful in learning new materials (videos, examples, text, etc). Then consider which topic you struggled with the most this week. Complete an online search for a new resource that will help you with that topic. For example, if you learn beset from videos and you struggled with the topic double entry accounting, then complete an online search for “double entry accounting videos”. If you learn best by examples, search for “double entry accounting examples”. Select one of the items you find in your search that you found particularly helpful in learning the topic you struggled with the most and post a summary of the resource and a link to the resource.

INITIAL POST

Cite and summarize the resource.

FOLLOW UP POSTS

As you review what your peers have posted, use your critical thinking skills to respond to their interpretations and conclusions. Seek clarification for points of interest to you.

 

Write at least 300 words 

Post at least two replies to either peers or the instructor  

Write at least 150 words per reply 

Deborah Banks 

The topic I am struggling with this week is the balanced scorecard.  I understand the usefulness to organizations.  I didn’t have enough of an understanding to create one for this week’s homework assignment.  I found a site maintained by the Balanced Scorecard Institute that gives a wealth of information on the basics on the topic.  The site explains the benefits organizations enjoy by using this reporting system.  The site also gives useful information the four main perspectives viewed in the balanced scorecard.  The article states that 50% of organization in the US use this method for reporting.  This site is useful for this week’s assignment.  It breaks down how an organization creates a strategic planning and management system through a balanced scorecard. 

To the class – Thank you for all the assistance in researching useful sites for this course.  This is the first class that I have had this type of discussion and it was very useful. 

https://www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard

Laban Ongeri

Other than the first week of this class, chapter 12 was the easiest for me to understand straight from the book without the need of other references. The formulas we straight forward and I can say the chapter was enjoyable. This being the final week though, I would like to point out that apart from the book, youtube was the most helpful resource to me throughout this class. There were several occasions I would read the book and could not comprehend how some answers were arrived at. YouTube acted as my tuitor. I am a visual learner and just being able to see someone solve the accounting questions, especially the mathematical ones came in very handy. Some of my classmates also recommended some resources in their posts and they helped out sometimes too. An example is investopedia. I never used this resource until I saw a few classmates recomend it and it sure provided useful information. This class definitely enlightened me on why and how some decisions are arrived at that initialy never made sense to me. For example, I realized why managers would decide to produce more of a product with the knowledge that the supply would exceed the demand during a certain period. 

Through my research, I stumbled upon  some useful information that was not neccesarily related to this class but it was important and educative information. That being said, I wish all my classmates the best of luck in their future classes.