Week 2 Discussion
“Importance of Accounting” Please respond to the following:
• *From the e-Activity, identify the job aspects, educational requirements, and preeminent accounting fields in which to work. Determine at least two (2) ways that accounting or accountants can have a direct impact on society. Provide specific examples.
e-Activity information related to the above bulleted item: Research the Internet and identify at least three (3) Websites that provide specific information useful to accountants or non-accountants to understand the accounting process. Be prepared to discuss.
• In your own words, explain the recording process and the accounting equation to someone who has no accounting experience.

Week 3 Discussion
“Accounting Adjustments” Please respond to the following:
• Explain the major advantages and disadvantages inherent in using both the cash and the accrual basis of accounting, and determine the one (1) that you believe provides the most useful financial information to users. Identify at least two (2) types of businesses that would benefit by preparing financial statements using either the cash or accrual basis of accounting. Justify your response.
• Define the generally acceptable accounting principles that justify making adjusting entries, and speculate on the primary impact to investors and creditors if companies did not make adjusting entries until the end of the calendar or fiscal year.