Week 1 Financial Accounting discussion questions

1.Identify two financial accounting concepts and explain how financial accountants apply these concepts in their function. You are encouraged to use examples to express your point.

2. Why are financial statements important to internal users, such as employees, managers, and directors?

3. What are the key accounting assumptions identified in this chapter?

4. What impact do these key accounting assumptions have on financial statement reporting?

5. What are the three primary financial statements covered in the video and what type of information do they provide to users?https://portal.phoenix.edu/medialibrary/videodetai…

6. What motivation might managers have to influence their accounting numbers?Author’s Corner: Accuracy of Accounting

7. The four financial statements?

8. Can you provide 2 examples of external users of the 4 financial statements? Also, how would it be used by these external users?

The question does not have to be APA. Just questions with the answer underneath.

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