acc_291_week_5_learning_team_reflection

Apr 17th, 2015
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Learning Week Five Reflection SummaryUniversity of PhoenixPrinciples of Accounting II - ACC 291Learning Team C Week Five Reflection SummaryLearning Team C agree that Weeks Four and Five were much easier to understand as the accounting concepts were explained and applications started feeding into each other. Here are some of the things the team learned on the objectives listed:Prepare a statement of cash flows using both direct and indirect methods.Direct and indirect for statement of cash flows can be tricky, learning team c finds the direct method to be easier to understand and use than the indirect method. The team thinks that the direct method makes more sense because there are fewer variables, or categories. Regardless the team believes the statement of cash flows to be interesting and with a little bit of on-the-job experience more understandable.Apply ratio, vertical, and horizontal analysis to financial statements.The team agrees that the vertical and horizontal analysis is fairly straightforward and easy to complete and understand. The ratio analysis is a bit more difficult, yet understandable. Developing the necessary knowledge to understand each analysis process is important. As an accountant deciding upon which way the analysis is to be prepared will greatly depend upon who the target audience will be. Each of these processes provides knowledge in its own right.Horizontal Analysis example:Vertical Analysis example:

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