Not Just Accounting

By now, I’ve realized that my “Financial Aspects of Business” class is much more than accounting. True, we spent an entire month on accounting, and I now have a much more solid understanding of balance sheets, income statements and cash flows. But we’re now moving on to other areas such as finance and investing.

I’ve found that many accounting concepts will pop into my mind throughout my day, such as the realization concept and the conservatism concept. I’ve thought of the asset equation from time to time, and realized how much of our lives is affected by money measurement concept – and how much of our lives cannot be measured.