Making Financial Accounting Relevant to Your Decisions
The learning exercise is designed to help students apply basic concepts in financial accounting to their personal decisions which should help them learn financial accounting more successfully.
Please read and find a concept that you can apply to a financial decision you will be making in the next 6 months. Will you be taking out a student loan? Will you be buying a car? Will you be deciding to buy books or rent books? Will you be deciding to pay for health inscurance?
Describe your decision you need to make, why it is imporant to you, and how the concepts you learned in chapters 1 and 2 has helped you make a better decision.
1. Appropriately apply at least one financial accounting concept presented in Chapters 1 or 2 to a personal decision.
2. Correctly explain the accounting concept
3. Correctly explain how the accounting concept was applied to the personal decision and can result in a better financial decision.