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ACCT 51 - Week 1
ACCT 51 - Week 1
ACCT 51 - Week 1
I am looking forward to having more knowledge about accounting because I have shifted my
interest toward an auditor career.
a) Optional Zoom office hours will be on Wednesday, from 12:15 pm to 1:15 pm. Another way
that we can engage and/or get help is through class discussion. Discussion can also help other
students who may have the same questions. However, we are also encouraged to email the
professor if the discussion does not help
b) 3 assessment assignments that are due each Sunday include weekly exercises in Canvas,
homework, and also a quiz in Wiley Plus. Therefore, late assignments are not accepted in this
class
d) The two midterms for this class will be on Wednesday, May 17, 2023, and Wednesday, June
21, 2023. As for the final, it will be on June 28, 2023. Both the midterms and the final will open
at 8 am and close at 10 pm, and students have 2 hours and 30 minutes to complete the tests. No,
we cannot reschedule the exam.
e) Provide the name and associated definition for three of the six fundamental qualities listed in
the conceptual framework.
- relevance: The financial information must be relevant to the economic decisions of the users.
This information should also include predictive value and/or confirmatory value because these
values can be helpful during the decision-making process.
-Faithful representation: This means that the financial information must be completed, be neutral
(not biased), and free form of error (reliable).
-Comparability: When financial information is comparable, it allows the company to identify any
similarities or differences in economic events. This will also help to increase the relevancy of the
financial information.