ACCT212 Course Project Discussions Week 3

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ACCT212 Course Project Discussions Week 3
Go to Course Home and review the Course Project Overview. Then download the Course…

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ACCT212 Course Project Discussions Week 3

ACCT212 Course Project Discussions Week 3

All Students Posts – 50 Pages 

Go to Course Home and review the Course Project Overview. Then download the Course Project template from Files. In this graded discussion, we will be examining the operation of the Accounting Information System (AIS) with the use of problems and exercises from your textbook. The goal is to cover all of the requirements to ensure an opportunity for your successful completion of the Course Project.

Let’s start with a review of the first three requirements of the Course Project. Explain why it is important to analyze each financial transaction of a business and to report it in the Accounting Information System. Suggestion: Revisit and review the Lessons in Weeks 1 and 2.

It is important to analyze each transaction because of the accounting equation.  It should be one of the first thing someone in a business do to make sure that assets= equity + liabilities stay in balance.  Knowing what transactions have taken place and getting them recorded correct can tell you a lot about how the transactions do affect the bottom line on a business…