What you’ll learn to do: define accounting and explain its role as a form of business communication

Accounting is the “language of business.”  As you learned earlier in the course, businesses have large groups of stakeholders who have a vested interested in the continued success of the enterprise. If a business, whether for-profit or non-profit, becomes financially insolvent and can’t pay its bills, unlike our celebrities at the start of this module, it will be forced to close. How businesses express their financial health and stability is by presenting an “accounting” of all their financial transactions. In this section you will explore in depth what accounting is and the vital information it communicates about the business.

LEARNING ACTIVITIES

The learning activities for this section include:

• Video: What Is Accounting?
• Reading: The Role of Accounting
• Self Check: Accounting in Business

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.