C1 ACC201 Financial Accounting 201 Introduction to Financial Accounting Case Assignment Part 1 Review the three components in the background material to answer three questions about accounting and it

C1 ACC201

Financial Accounting 201 Introduction to Financial Accounting 

Case Assignment

Part 1

Review the three components in the background material to answer three questions about accounting and its purpose. 

• What is accounting?
• What is the importance of accounting?
• What are corporate financial statements?

The essay should be 400 to 500 words.

Part 2

The background information for the module covers the basic concepts, but for more ideas go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites for ideas to complete the table. Do not forget to add a creative title for the table and reference the sources used.

Create a table with four columns as shown below and complete the last three columns to express your thoughts on the purpose and significance of financial statements.

Please see attached files for assignment details.

Please use attached APA Template for assignment