Project #65288 - Discussion questions

two discussion questions 200 word count only

1.The first chapters in our textbook introduce you to the accounting equation and the balance sheet.  In studying accounting you learn early on that the accounting equation is required to always be in balance. The balance sheet is a formal financial statement that reflects the balance in the company’s books. Chapter two lays the foundation for the basic accounting standards.  Bookkeeping requires recording transactions according to Generally Accepted Accounting Principles.

 

The balance, order, and standards required to keep up with a company’s books and prepare the financial statements are similar so many other things in our world that require balance and order.

In Proverbs 16:11 KJV we read that  “A just weight and balance are the Lord's: all the weights of the bag are his work.” Solomon is telling us here that all things belong to the Lord.  His standard must always be the standard by which we measure everything.  The Lord and his character are in true balance.

Many people (including Christians) struggle with balance in their lives. We all can probably agree that having balance is important. What does Jesus have to say about how to attain balance in our lives?   

In Jesus' famous Sermon on the Mount, He addressed basic questions that the people had. In Matthew 6: 33-34 NIV we read “But seek first his kingdom and his righteousness, and all these things will be given to you as well. Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”

Jesus made it clear that our greatest priority on this earth should be on seeking God’s kingdom. Salvation that is inherent in the kingdom of God is greater than all the world’s riches. This does not mean we should abandon the daily duties that help to sustain our lives. But as Christians we should have a different attitude toward them.  We should be taking care of God’s business, seeking His salvation, living in obedience to Him, and sharing the good news with others.

Take time to examine your life.  Where do you spend your energy?  Are you seeking God’s kingdom first?  Are you spending your time and money on things with eternal value?

 

2.oretta Smith, president and owner of Custom Enterprises, applied for a $250,000 loan from City National Bank.  The bank requested financial statements from Custom Enterprises as a basis for granting the loan.  Loretta has told her accountant to provide the bank with a balance sheet.  Loretta has decided to omit the other financial statements because there was a net loss during the past year. 

Is Loretta acting in a ethical manner by omitting some of the financial statements?   Discuss why you do or don't believe that Loretta was acting in an ethical matter from a Christian perspective.  

Subject Mathematics
Due By (Pacific Time) 04/07/2015 12:00 am
Report DMCA
TutorRating
pallavi

Chat Now!

out of 1971 reviews
More..
amosmm

Chat Now!

out of 766 reviews
More..
PhyzKyd

Chat Now!

out of 1164 reviews
More..
rajdeep77

Chat Now!

out of 721 reviews
More..
sctys

Chat Now!

out of 1600 reviews
More..
sharadgreen

Chat Now!

out of 770 reviews
More..
topnotcher

Chat Now!

out of 766 reviews
More..
XXXIAO

Chat Now!

out of 680 reviews
More..
All Rights Reserved. Copyright by AceMyHW.com - Copyright Policy