Business Finance Homework Help

In this week’s discussion, we will introduce the basic accounting equation. Understanding the relationship between the equation’s key components is essential in learning accounting. Those components are assets, liabilities, and equity. We will also introduce basic transactions within a company that can occur, and how those transactions are recorded. Finally, we look at the 4 basic financial statements and their particular importance.

1). Define and discuss the accounting equation and each of its components.

2). Give an example of a typical business transaction and discuss its impact on the accounting equation (Your explanation should describe which account(s) are increasing/decreasing and whether those accounts were “debited or credited”).

3). Finally, list and discuss the importance of each of the 4 basic financial statements.

Be sure you cite references appropriately (APA). Also, please review my grading policies related to 1st Posts for full credit.

The following is a provided rubric for you to use to assess your participation in discussions. Please take the time throughout the course to check and see where your participation level falls. This document is for your use, so you know what is expected of you and how your instructor will be grading you.

LEVEL 4

• Provides concrete examples from the readings to support postings
• Integrates prior readings in postings
• Integrates personal observations and knowledge in an accurate and highly insightful way
• Presents new observations
• Constructively responds to classmates’ postings
• Participates in all module discussions
• Posts are organized
• Information is presented in a logical sequence
• Word choice and sentence structure are suitable