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This comprehensive tutorial includes: Week 1: Individual Financial Statements Paper Write a 700- to 1,050-word paper in which you do the following: • Identify the four basic financial statements. • Describe the purpose of each of the four financial statements. • Discuss how the financial statements would be useful to internal users such as managers and employees. • Discuss how the financial statements would be useful to external users such as investors and creditors. Format the paper consistent with APA guidelines. Week 2: Discuss the objectives for Week One. How do they relate to the practice of accounting and its uses in business?
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Identify the four basic financial statements. Classify transactions using the rules of debit and credit. Journalize basic transactions. Discuss how financial statements would be useful to external users such as investors and creditors.
Write a 350- to 500-word summary of your Learning Team’s discussion. Week 4:
Discuss the objectives for Week Three. How do they relate to the practice of accounting and its uses in business? • • •
Prepare closing entries, reversing entries, and a post-closing trial balance. Prepare a financial statement worksheet. Prepare a classified income statement, retained earnings statement, and balance sheet.
Write a 350- to 500-word summary of your Learning Team’s discussion. Week 5: Discuss the following: In the wake of accounting scandals over the past several years, how has the Sarbanes-Oxley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal controls in complying with SOX