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Review and reflect on the knowledge you have gained from this course. Based on your review and reflection, write at least 2-3 paragraphs on the following: What were the most compelling topics learned in this course? How did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified? What approaches could have yielded additional valuable information?
Paper For Above instruction
The Accounting for Non-Accounting Majors course provided valuable insights into fundamental financial principles that are applicable across various fields. One of the most compelling topics was understanding financial statements, including the balance sheet, income statement, and cash flow statement. Grasping how these statements interrelate allowed me to better interpret an organization’s financial health and performance (Gibson, 2018). Additionally, the concept of accrual accounting was particularly eye-opening, highlighting how timing impacts financial reporting and decision-making. This knowledge is crucial for evaluating business operations beyond surface-level figures.
Participating in class discussions significantly enhanced my understanding of accounting concepts. Engaging with peers and instructors allowed me to clarify misconceptions and gain diverse perspectives. For example, discussing the nuances of depreciation methods deepened my comprehension of how assets are managed and reported over time (Weygandt, Kimmel, & Kieso, 2019). These interactions made abstract concepts more tangible and applicable. However, certain topics, such as complex journal entries and their implications for financial analysis, remain somewhat unclear and could benefit from additional clarification through practical exercises. Incorporating case studies or real-world scenarios might have further deepened my understanding, providing more context for the theoretical frameworks learned in class.
Overall, this course has enhanced my foundational knowledge of accounting, which is essential for non-accountants. Future approaches might include more hands-on activities or simulations to bridge theory and practice more effectively. Such methods could yield additional valuable insights, helping to solidify complex concepts and improve practical application skills (Horngren, Sundem, Elliott, & Philbrick, 2014).
References
Gibson, C. H. (2018). Financial reporting & analysis. Cengage Learning.
Horngren, C. T., Sundem, G. L., Elliott, J. A., & Philbrick, D. R. (2014). Introduction to Financial Accounting. Pearson.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2019). Financial Accounting (10th ed.). Wiley.