BUS-FP3061 Fundamentals of Accounting
Many who take this course do not plan to be accountants. If you happen to be in this group, you might be thinking, "If I am not going to be an accountant, why do I need to know accounting?" The former chairman of a large international company probably said it best when he told a group of undergraduate students, "To be good at your business, you have to know the numbers cold." Accounting and financial statements are the language of business used to communicate the numbers. If you do not know how to read financial statements, you cannot really know your business.
Successful completion of this course will demonstrate your financial literacy in reading and preparing financial statements and using basic tools to evaluate financial results.
The balance sheet and income statement do not necessarily show a complete picture of the financial condition of an organization. In most organizations cash is king, and without a sizable amount of cash, an organization can become insolvent (that is, not having enough ready cash to meet its current obligations or purchase merchandise or materials). When this happens, creditors, bankers, and other external stakeholders (people and organizations that have a vested interest in the survival of a business) might become impatient and force the business into bankruptcy.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Competency 1: Define accounting and its application to accounting principles.
Analyze accounting data to classify cash inflow and outflows.
Competency 2: Apply accounting cycle strategies to manage business financial events.
Apply the appropriate activity for each business transaction.
Competency 3: Prepare financial statements from accounting system data.
Prepare a cash flow statement using appropriate financial data.
MyAssignmenthelp.com is one of the leading urgent assignment help providers in the USA. We have earned our reputation as best assignment help in multiple countries including the USA. We have designed unique fastest delivery options, which assist us to deliver immediate assignment assistance. Our teams of highly skilled qualified writers are capable of delivering fast assistances. We provide online assignment help to a wide range subjects so that whenever students face the urgent need of assignment help, they can hire our assistance within a short period.