Unit 10 Assignment

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  • Topic: 21st century, Warning system, I Stay Away
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Raymond Lee
AC330-01 Advertising in the 21st Century
Unit 10 – Writing Assignment
Professor Tanae Wolo-Williams
May 8, 2012

As I look back at this term I have learned that accounting is more than just a bunch of numbers in a column to sort out money being brought in and money going out. In accounting there are many different segments, although in my business it relatively something that I basically know, but I stay away from because it’s a weakness and I realize it. I have hired a very solid accountant within the business, but in this course it has really opened my eyes in the fact that it’s not really so bad in the accounting world. Do I not look at numbers in my business? I do, but numbers flow in my head in a different way than most people, putting them to charts and graphs are something that this course has given me exposure to. Will I get more involved in accounting now? Yes. This course truly has shown me that there is more to learn that could enhance my business knowledge even more within my industry.

One of the units that I thoroughly enjoyed was unit 6, Budgetary Planning; in this unit one of the things we went over was the benefits of budgeting. The most important thing when it comes to the benefits of budgeting is it creates an early warning system for potential problems so that management can make changes before things get out of hand (Weygandt, J., Kimmel, P., & Kieso, D., 2011 pg. 389). By having a system in place you can head off potential problems like being short on critical inventory or money for that inventory that you will need. Another benefit is that it motivates personnel throughout the organization to meet planned objectives (Weygandt, J., Kimmel, P., & Kieso, D., 2011 pg. 389). When you have a motivated staff it tends to raise morale and production can be at its highest level, this then can lead to meeting all goals within the projected numbers which is extremely important if a business wants to stay profitable....
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