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ACC/557 ACC557 ACC 557 Week 1 DQ2

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ACC 557 Week 1 DQ2 “General Accounting Principles” Please respond to the following: “Bookkeeping and accounting are the same.” In terms of your role in the provision of financial services, present data to support the accuracy of this statement and support your position. Analyze the accounting equation as a concept that underpins the work of professional accountants and how an understanding of the equation can impact business decision making. Accounting is defined as three basic activities that identifies records and communicates the economic events of an organization to interested users.

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