{"id":550,"date":"2015-04-21T22:52:04","date_gmt":"2015-04-21T22:52:04","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusiness1xngcxmaster\/?post_type=chapter&#038;p=550"},"modified":"2015-07-11T23:48:45","modified_gmt":"2015-07-11T23:48:45","slug":"accounting-in-business","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/chapter\/accounting-in-business\/","title":{"raw":"Outcome: Accounting in Business","rendered":"Outcome: Accounting in Business"},"content":{"raw":"<h2>What you\u2019ll learn to do: define accounting and explain its role as a form of business communication<\/h2>\r\nAccounting is the \"language of business.\" \u00a0As 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\u00a0will be forced to close. How businesses express their financial health and stability is by presenting\u00a0an \"accounting\" of all their\u00a0financial transactions. In this section you will explore in depth what accounting is and the vital information it communicates about the business.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Video: What Is Accounting?<\/li>\r\n\t<li>Reading: The Role of Accounting<\/li>\r\n\t<li>Self Check: Accounting in Business<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do: define accounting and explain its role as a form of business communication<\/h2>\n<p>Accounting is the &#8220;language of business.&#8221; \u00a0As 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&#8217;t pay its bills, unlike our celebrities at the start of this module, it\u00a0will be forced to close. How businesses express their financial health and stability is by presenting\u00a0an &#8220;accounting&#8221; of all their\u00a0financial transactions. In this section you will explore in depth what accounting is and the vital information it communicates about the business.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Video: What Is Accounting?<\/li>\n<li>Reading: The Role of Accounting<\/li>\n<li>Self Check: Accounting in Business<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-550\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":78,"menu_order":2,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"e36624e3-cfa8-4b3e-ab8e-efcba3c2ac97","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-550","chapter","type-chapter","status-publish","hentry"],"part":94,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/users\/78"}],"version-history":[{"count":14,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/550\/revisions"}],"predecessor-version":[{"id":5138,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/550\/revisions\/5138"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/parts\/94"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapters\/550\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/media?parent=550"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/pressbooks\/v2\/chapter-type?post=550"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/contributor?post=550"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-introbusinesswmopen\/wp-json\/wp\/v2\/license?post=550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}