Discussion 1 - The Importance of Understanding Accounting
Purpose
The purpose of this discussion is to understand why everyone needs a little bit of accounting knowledge. Whether you own your own business, work for a company, have a side gig making extra money, or are investing in stock market, a little accounting knowledge goes a long way. Watch the short video of Warren Buffett speaking about the importance of understanding accounting.
Your Main Post (6 points)
- What is your level of comfort when dealing with finances and reading basic financial reports (e.g., income statement, balance sheet, bank statement, loan statements, credit card statements, etc.)
- In the short video clip, Warren BuffettLinks to an external site. recommends that anyone who goes to business school or goes into business should get comfortable with accounting. How comfortable are you with making your own financial decision and investment decision? Was there at time in the past when you made a financial decision and later wished you had a better understanding of finance and accounting? How do you foresee this course helping you in your personal life and/or professional life?
Your Reply Post (2 points)
Respond substantively to the post of one of your classmates.
Due Dates
To complete this discussion, your initial posting is due by Friday 11:55pm. Then, respond to 1 classmate by Sunday 11:55pm.
Discussion Etiquette (Netiquette) Guidelines
Respond to your classmates in a respectful manner, keeping in mind the following:
- Treat others as you wish to be treated.
- Use supportive and constructive language.
- Use full sentences and proper grammar.
- Don't use too much jargon.
- Substantiate your opinion or claim by citing evidence from a reputable and trusted source.
For more information on Netiquette, please see the 15 Rules of Netiquette for Online Discussion Boards
Links to an external site.