ACC 557 Week 11 DQ1
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This 0 page Study Guide was uploaded by an elite notetaker on Wednesday November 11, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 26 views.
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Date Created: 11/11/15
ACC 557 Week 11 DQl quotCourse WrapUpquot Please respond to the following Explain two concepts in this course that provided the most value to you Indicate how these two new areas of knowledge will benefit you in your current job or future career endeavors The two concepts in this course that provided the most value to me are relevance and reliability and GAAPIFRS All information obtain through accounting must be useful to decision makers who can or cannot understand it This is because all information obtain is essential to decision making which exhibits its relevance and reliability Sound decisions cannot be making without accurate information The next concept that provides the most value in financial accounting is the systematic test of guidelines established for all business organization to follow pertaining to finances Both GAAP and IFRS are important because they require consistency in financial documentation allowing for transparency for investor creditors and users They also ensure that all financial business activities remain ethical for decision making planning and financial statements for meeting regulatory requirements I believe that the knowledge of these new areas of knowledge will benefit me in future careerendeavors by allowing me to evaluate investigate and then act on data presented They aid in establishing a portfolio of how operations are supposed to appear and if these characteristic are not represented then I know that questionable concerns are appropriate