Team d week two learning reflection
The process involves recording the purchase as an asset as opposed to a period expense; next amortizing or depreciating that asset, portions of the purchase price over a set period, in regular intervals.
If not done properly, the result may not align with the desired outcome. The topic of invention related the most to the type of work Katrina does at her job.
Katrina, like Andrea, found it hard to follow the examples given within each chapter but the reason behind her confusion dealt with actually being able to match the example to the reading.
Team d week two learning reflection
In this weeks reflection, the team will discuss the importance of inventory valuation to the presentation of the balance sheet and the income statement. The fact that certain opics such as monopoly, oligopoly, short run and long run, are being covered more in depth has also helped to increase her learning curve. The differences in monopolies and oligopolies was a bit of a struggle for Danielle but the examples that were provided within the reading helped her to grasp the information better. Using cost control measures to insure they are staying within budget, as we understand the importance of increasing revenue and staying within budget. An employee will become more vested if he or she becomes a part of a delivered solution. In addition, we will also talk about how do accounts mean by capitalizing fixed assets and how does that affect the balance sheet and the income statement. Sherly thought that any product or potential product created by an individual or members of an organization could be patented. Capitalizing a fixed asset refers to the accounting behavior used for the purchase of items that will be used in the operation of the business. On the other hand, capitalizing assets is using amortizing or depreciation. This means that the payment made is capitalized by recording it as a fixed assets because the benefits have to be taken for more than one year. However, to specify employee discretion as well as establish feedback channels, Rocky schedules a meeting with Bill to review the assignment before it is passed on to Anne.
During week three The Team Members felt comfortable with different topics. The airport will lose money on the merger but customers will benefit from lower fares.
Mark enjoys the challenge that is presented by applying a different approach to analyzing what will impact a business from a market structure standpoint which will continue to increase his learning curve.
When fixed assets are used over time, it is being transferred gradually to expense; this is known as depreciation expense. The additional information on monopoly provided Sherly with more information that helped her better understand what was taught in week two. Inventory is not an income statement account.
Mark was comfortable with all the topics covered in week three and especially enjoyed learning more about the differences in operating in a monopoly, monopolistic competition, and an oligopoly. In that situation, the beginning and ending inventory does appear on the income statement.
In that situation, the beginning and ending inventory does appear on the income statement. Anne has no objections but insists that Rocky clarifies the assignment to ensure all expectations and parameters are met. Using cost control measures to insure they are staying within budget, as we understand the importance of increasing revenue and staying within budget. The recording of payment for fixed assets increases the total fixed assets and decreases the current assets, if payment has been made in cash. The following is a reflection of how Team D would handle this situation for the best possible outcome Learning Team Reflection As a manager, Rocky is aware that the assignment could be completed effectively and efficiently by one of his employees. When, we have to send applicants omission letters, the entire process takes longer since we have to wait to receive the missing information back from the applicant before the application can be processed. The economy of scale section has also been a struggle for her this week but Andrea has gone over the text in these sections multiple times for a better understanding. Mark was comfortable with all the topics covered in week three and especially enjoyed learning more about the differences in operating in a monopoly, monopolistic competition, and an oligopoly. In conclusion, we learned that inventory valuation on companys balance sheet signifies companys assets. This type plan is critical to ensure the employee has the support of those required to complete the assignment.
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