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Discuss the fundamental components of financial accounting

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Discussion : The fundamental components of financial accounting, including items like assets/liabilities, journal entries, financial statements, debits/credits, and revenues/expenses. Select one of these topics or another item of your interest and discuss what you learned about it and how it will help you as you progress through accounting.

Question : Take a closer look at accounting for inventory with a particular focus on inventory methods. The two primarily covered are referred to as FIFO and LIFO. Discuss what you learned about these methods, how they are alike and different, and why they are important to understand.

Reference no: EM132452304

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