Finace

Week Two Assignment: Accounting and Finance Information Paper

Update as February 7, 2006 10:30 pm ET

Step 1. Every team member takes A, B, C and D and places his/her name in the appropriate column. Completed.

Step 2. Have each part ready by Friday and post it for Lora.

Step 3. Lora will post a draft paper as soon as she gets our information for our feedbacks. Final paper and power presentation must be ready by Sunday to be posted Sunday or no later than Monday morning.

Please let me know your feed back on my plan, I am open to any suggestions.

Criterion Unsatisfactory Exceptional Name

1. Problem Solving Approach (50%)

Introduction, conclusion, editing and PowerPoint presentation Lora

Distinguish Between Accounting and Finance Failed to fully distinguish between accounting and finance. Distinguished between accounting and finance. Provided definitions and uses of each. Analyzed how accounting and finance departments differ between small, medium, and large organizations. A (Beatriz)

Explain the Use of Accounting and Financial Information in Making Informed Business Decisions Failed to fully explain the use of accounting and financial information in making informed business decisions. Fully explained the use of accounting and financial information in making informed business decisions. Provided specific examples of the types of decisions that could be made. Assessed the strengths and weaknesses of relying solely on accounting and financial information when making business decisions. B (Shyam)

Analyze the Relationship Between the Balance Sheet and the Income Statement Failed to fully analyze the relationship between the balance sheet and the income statement. Fully analyzed the relationship between the balance sheet and the income statement. Provided an example from a real company and discussed how financial statement readers might use the information. C (Rakesh)

Explain Basic Accounting Theories, Assumptions, and Principles Failed to explain basic accounting theories,