ACC 557 Week 1 Discussion Question – Strayer New
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Week 1 Discussion
“General Accounting Principles” Please respond to the following:
• Watch the video titled, “Bookkeeping” (5 min 46 s) from the lynda.com video series Accounting Fundamentals with Kay Stice and Jim Stice athttp://www.lynda.com/Business-Accounting-tutorials/Bookkeeping/158665/176132-4.html?org=strayer.edu. Next, consider the following statement: “Bookkeeping and accounting are the same.” In terms of your role in the provision of financial services, present data to support the accuracy of this statement and support your position.
• Watch the video titled “The Basic Accounting Equation” https://www.youtube.com/watch?v=cLG7K6Sq9K4 (6 min 33 s). Next, analyze the accounting equation as a concept that underpins the work of professional accountants and how an understanding of the equation can impact business decision making.