Understand the role of the control function in business, including becoming familiar with the format and use of the Income Statement, Balance Sheet and Cash Flow Statement.
Homework Preparation for Class
- Read Chapter 15 on Using Accounting Information.
- Watch the 45-minute tutorial on financial statements from Baruch College showing a pizza startup business and the importance of financial statements.
- Watch Enron 'The Smartest Guys in the Room' trailer. (2 minute clip)
- Watch Milton Friedman on 'Greed'. (2 minute clip)
- Write and post a 300-word essay on the discussion board on the importance of the accounting profession to business.
- Analyze and discuss in the essay the difference between Milton Friedman’s greed and Enron’s greed and its impact on preparing financial statements.
- Post two comments to two different students’ essays. Ask them questions; take their project to the next step.