Professional Relevance of Financial Accounting

Description

My major is Human Services

In this week’s discussion, you will make connections between your chosen field and what you have learned about financial accounting up to this point. This discussion is important practice for the second part of your final project, in which you will analyze the practical applications of financial accounting in terms of how relevant it is to your own professional aspirations.

In your initial post, describe your current or aspiring professional identity, including your career and the field in which you work or hope to work. What sort of transactions would you encounter in that field? What are the impacts of those transactions on the business? List and describe several examples.

We have learned just the basics of account like fulling out balance sheets, journalizing, accounting cycle,how to account for merchandising transactions,internal controls for safeguarding assets, including how to effectively monitor cash transactions and account for receivables, and long-term assets and current liabilities


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