The CPA and the CMA: Accounting Principles
website. www.imanet.org. Watch the Fall 2008 video under the membership section
and share what you found interesting or enlightening about the accounting
profession. What is the difference between a CPA and CMA? What characteristics
are common to both? Why do you think the average person has heard of the CPA
but not the CMA?
2. What are some items that appear on an organization’s
balance sheet? How does an organization calculate net income? What statements
are useful in explaining how much cash an organization uses or generates during
an accounting period? Why?
3. What are steps of the accounting cycle? Why is it
necessary to make adjusting entries at the end of each accounting period? What
would happen if all steps were not completed in a specific period?
Categories: