General Accounting Principles
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Watch the video titled, “Bookkeeping” (5 min 46 s) from the lynda.com video series Accounting Fundamentals with Kay Stice and Jim Stice at http://www.lynda.com/Business-Accounting-tutorials/Bookkeeping/158665/176132-4.html?org=strayer.edu. Next, consider the following statement: “Bookkeeping and accounting are the same.” In terms of your role in the provision of financial services, present data to support the accuracy of this statement and support your position.
Watch the video titled “The Basic Accounting Equation” https://www.youtube.com/watch?v=cLG7K6Sq9K4 (6 min 33 s). Next, analyze the accounting equation as a concept that underpins the work of professional accountants and how an understanding of the equation can impact business decision making.