Eastern Shore Community College Accounting Significance & Importance Discussion

Eastern Shore Community College

Question Description

Can you help me understand this Accounting question?

100-150 words

1. Why is accounting important? 2. Who governs accounting? 3. How consistent is accounting among companies in the same industry? 4. Why do we care as a society about accounting rules?

5. Explain the value of financial ratios and why they are important?


This week we look at how cash is used within the company, how financial statements can be used to forecast future financing needs and how financial ratios can be used to evaluate a company’s financial condition. This type of analysis is useful to managers, investors and lenders.


  • Sources and Uses of Cash
  • Planning with pro forma financial statements
  • Financial ratios analysis


1) Module 1: Finance and financial Performance (Content – Course Resources –Financial Performance Module and Read Commentary)

  • Evaluating Financial Performance
  • Financial Plans and Forecasts

2) Course Text : Boundless Finance Online Text

(A PDF of the Boundless course textbook may also be found in Leo under Content > Syllabus)

  • Chapter 3: Analyzing Financial Statements
  • Chapter 4: Forecasting Financial Statements

3) Complete Financial Analysis Tutorial in Investopedia

VIEW: For a short video on financial ratios, a key tool of financial analysis see:

VIEW and Review: Bean Counting 101 (Parts 3,4 and 5)


  • Participate in the Weekly Discussion
  • Problem Set in ‘Homework’ #2- My Tools/ Quizzes & Exams/ Finc 331 Homework Week 2
  • Check out Alaina Mackins file: FINC 331 Week 2 Homework Hints.pptx
  • Review Group Project Requirements

Due Wednesday at EST 11:00pm

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Have a look at it and get back to me

1. Accounting enables the tracking of income and expenditure, ensuring compliance of
statutory requirements. It avails important quantitative information that can be used in

Prof_Axel (2242)
Cornell University

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