Introduction
Computer technology is growing continually smaller. The first real computer took up 1,800 square feet of space and weighed 30 tons. Yes, technology is now beyond small. A new unit of measure is a nanometer – it is one billionth of a meter long. Do you know how small that is? If you took a strand of your hair and divided by 70,000 – that's a nanometer!
Not only are computers now smaller, they have also changed the way people work. Accountants have certainly seen major changes – from bulky handwritten journals to electronic spreadsheets.
Following successful completion of this lesson, students will be able to...
- Analyze the accounting equation for the purpose of relating it to the accounting cycle.
Essential Questions
- What is a Statement of Owner’s Equity?
Enduring Understandings
- In accounting statements are used to keep track on owner’s capital and withdrawals.
The above objectives correspond with the Alabama Course of Study: Accounting standards: 5.