Question

please read carefully before answering. Thank you.
Choose at least two concepts in financial reporting (Intermediate Accounting: Reporting and Analysis) you have learned and explain how you may use them in your present or future accounting position. Make sure you provide details to include how each concept will help you support the financial goals of the company you currently work for or will work for in the future. 

Answer 1

"The two things that I learned that will presently help me or will help me in the future are.

1.Stock Options

2.Memo Writing

Before this class I didn’t really understand all the stock options companies could offer. I really liked how we had to look up the different types of stocks and all the practice we had with them on the homework. I think as an accounting for a firm I will need to understand how stock works and how to calculate it and put in the journal entries. At my current job we are in charge auditing the time keeping for the city. That is 4500employees and only 5 of us to deal with them. On a daily basis I have to speak with people and often send out emails about their pay and/or pay codes that may need to be changed in order for them to be paid properly. I learned in this course that while I need to put the info in a memo for them, I also need to make sure that they feel like my memo is friendly and doesn’t come across as rude. People don’t always like what I have to say and while it may be policy, it can still come in a friendly way and let them know I am trying to help them out before it becomes a problem.The first memo I wrote for this class wasn’t extremely friendly and I think the more I wrote, the better I got."

Whalen, J.M., Jones, J. P., and Pagach, D.P. Intermediate Accounting: Reporting and analysis.Mason, OH: South-Western Cengage Learning, 2013