Accounting: Tools for Business Decision Making

Identify the elements of financial statements used by IT managers. Distinguish among the three principle types of business activities and how they affect the financial statements. Explain how financial statements are used to make decisions.
Topic 1 Assignment and Topic 1 Quiz
Complete the Topic 1 Assignment and Quiz 1 in WileyPLUS.
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Show eTextbook and Media: A link to the relevant section in the textbook and available resources
Book: Tools for Business Decision

BOOK= https://viewer.gcu.edu/VG6xUD
Read “Beginners’ Guide to Financial Statement,” by the U.S. Securities and Exchange Commission (SEC, 2007), located on the SEC website.
URL:
https://www.sec.gov/reportspubs/investor-publications/investorpubsbegfinstmtguidehtm.html
Book: Tools for Business Decision
The authors of the textbook explain the three types of business activities all companies encounter. Does a company’s IT department have economic transactions for each of the three types of business activities? Why or why not? Provide a specific example of an economic transaction for each activity type to support your conclusions. Be sure to use examples not already used by a fellow student. To participate in follow-up discussion, provide a respectful critique of two other students’ responses.

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