Lets Discuss: Preparing for the Midterm Exam

In preparation for your Midterm Exam, please consider all of the materials you have covered in this course during Modules 1-3 (i.e. discussion questions, text readings, homework assignments, quizzes, projects, etc.). Post at least one question on a topic you are unclear on and on which you would like to receive feedback from your instructor or your peers. If you have no questions, please tell us about a topic that has been most interesting to you or most relevant to your field.  For full credit, please be sure to respond to more than two other students initial responses, as well.

Participation in this discussion provides you with the opportunity to use concepts and terminology learned in Modules 1-4 while exchanging information with peers and your professor.

This discussion will address the following Module Outcomes:

MO2-1: Explain account classifications and the need to classify accounts. (CO1, CO2)
MO2-2: Identify the method of recording business transactions for service and merchandise companies through a complete accounting cycle. (CO1, CO2)
MO3-1: Apply the concept of accrual accounting. (CO2)
MO3-2: Apply the rules of the accounting close process. (CO2)
MO3-3: Explain the process of adjusting the general ledger accounts, closing the books, and preparing the financial statements. (CO2)
Consult the Discussion Posting Guide for information about writing your discussion posts. It is recommended that you write your post in a document first. Check your work and correct any spelling or grammatical errors. When you are ready to make your initial post, click on “Reply.” Then copy/paste the text into the message field, and click “Post Reply.”

To respond to a peer, click Reply beneath her or his post and continue as with an initial post.

145 word reply to each post give advise