Reference no: EM132162606

Question: In today's business environment, companies use technology (e.g., computers and software programs) to record, organize, summarize and prepare financial reports rather than physical journals and ledgers to record and summarize information. Entry-level employees are trained to input data into an accounting system without formally understanding fundamental accounting concepts such as debits and credits, the accounting equation, journalizing, posting, adjusting, and closing.

1. Discuss the value found in learning and understanding the steps of the accounting and the using of journals and ledgers to demonstrate how information in processed.

2. Do you believe that the depth of one's understanding of accounting can impact one's career advancement? Explain.