Complete 2 Page Paper on Business Accounting

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  1. Define the accounting function of a business.
    • Why is accounting such an important function in business?
    • How might a company use accounting to understand its own financial strengths and weaknesses?
  2. Define the Finance function of a business.
    • Why is Finance an important function in business?
    • How might a company use finance to decide whether or not to undertake future projects?
    • What is the difference between short-term financing and long-term financing?
  3. Assume that members of Bill family form a corporation called Accounting Software, Inc. (ASI). On December 1, 2013, several members of Bill family invest a total of $10,000 to start ASI. In exchange, the corporation issues a total of 1,000 shares of common stock. What is the effect on the corporation’s accounting equation? Explain your answer.


  • Minimum Page Length – 2 full pages (excluding title/header and reference list); 12-point Times New Roman; double spaced; and page numbering.
  • Please be sure to answer the entire question to receive maximum credit for this task.
  • Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper.
  • Be cognizant of spelling, punctuation, and grammar.
  • All sources should be cited in proper APA format (in-text citations and a reference list).
  • This task is due on Sunday at 11:59 pm EST.

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