{"id":56,"date":"2018-03-19T15:58:05","date_gmt":"2018-03-19T15:58:05","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/?post_type=chapter&#038;p=56"},"modified":"2024-04-26T22:11:13","modified_gmt":"2024-04-26T22:11:13","slug":"why-it-matters-3","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/chapter\/why-it-matters-3\/","title":{"raw":"Why It Matters: Accounting Theory","rendered":"Why It Matters: Accounting Theory"},"content":{"raw":"<h2>Why learn about accounting?<\/h2>\r\n<img class=\"aligncenter wp-image-914\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2985\/2018\/03\/20220537\/accounting.jpg\" alt=\"The word &quot;accounting&quot; written in blue.\" width=\"615\" height=\"410\" \/>\r\n\r\nAccounting is often called the language of business, and knowing the language is absolutely essential for any business person. You may have already been in a meeting with a customer, or the sales staff, or even the management of your company, where you heard accounting terms like \u201cbottom line\u201d and \u201cgross profit.\u201d In a sense, accounting is more than just a language. It\u2019s also a way to keep score and to measure progress and accomplishment. Even more simply, things like a sales commission are directly based on accounting information.\r\n\r\nAccounting terms and concepts pervade business, so learning the language, not just the words but the meanings, is essential for success. In this module you\u2019ll delve into history, ethical dilemmas, and the legal implications of accounting, along with some of the essential nuts and bolts of accounting for business transactions. All this will give you a working knowledge of the venerable and ancient art of accounting\u2014the language and the scorecard of business.","rendered":"<h2>Why learn about accounting?<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-914\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2985\/2018\/03\/20220537\/accounting.jpg\" alt=\"The word &quot;accounting&quot; written in blue.\" width=\"615\" height=\"410\" \/><\/p>\n<p>Accounting is often called the language of business, and knowing the language is absolutely essential for any business person. You may have already been in a meeting with a customer, or the sales staff, or even the management of your company, where you heard accounting terms like \u201cbottom line\u201d and \u201cgross profit.\u201d In a sense, accounting is more than just a language. It\u2019s also a way to keep score and to measure progress and accomplishment. Even more simply, things like a sales commission are directly based on accounting information.<\/p>\n<p>Accounting terms and concepts pervade business, so learning the language, not just the words but the meanings, is essential for success. In this module you\u2019ll delve into history, ethical dilemmas, and the legal implications of accounting, along with some of the essential nuts and bolts of accounting for business transactions. All this will give you a working knowledge of the venerable and ancient art of accounting\u2014the language and the scorecard of business.<\/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-56\">\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>Why It Matters: Accounting Theory. <strong>Authored by<\/strong>: Joe Cooke. <strong>Provided by<\/strong>: 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 class=\"license-attribution-dropdown-subheading\">CC licensed content, Specific attribution<\/div><ul class=\"citation-list\"><li>Accounting. <strong>Provided by<\/strong>: Blue Diamond Gallery. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"http:\/\/www.thebluediamondgallery.com\/handwriting\/a\/accounting.html\">http:\/\/www.thebluediamondgallery.com\/handwriting\/a\/accounting.html<\/a>. <strong>License<\/strong>: <em>Other<\/em>. <strong>License Terms<\/strong>: Fair use under United States copyright law.<\/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":17533,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc-attribution\",\"description\":\"Accounting\",\"author\":\"\",\"organization\":\"Blue Diamond Gallery\",\"url\":\"http:\/\/www.thebluediamondgallery.com\/handwriting\/a\/accounting.html\",\"project\":\"\",\"license\":\"other\",\"license_terms\":\"Fair use under United States copyright law.\"},{\"type\":\"original\",\"description\":\"Why It Matters: Accounting Theory\",\"author\":\"Joe Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"9a7870f1-0ab0-4063-a036-36ad6317b7b9","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-56","chapter","type-chapter","status-publish","hentry"],"part":28,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/56","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/users\/17533"}],"version-history":[{"count":10,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/56\/revisions"}],"predecessor-version":[{"id":3034,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/56\/revisions\/3034"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/parts\/28"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/56\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/media?parent=56"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapter-type?post=56"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/contributor?post=56"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/license?post=56"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}