When responding to those questions prepare a essay of minimum six paragraphs each paragraph with a minimum of three sentences. Please follow APA guidelines; you may use the APA Manual 6Ed as guidelines at least for the font and document margins, grammar, and in general vocabulary correctness.
Please in that essay respond to the following questions:
- Explain what accounting is.
- Who are the users of accounting? Explain.
- Why are ethical fundamentals important in the accounting field and for the business?
- What is the equation of accounting?
- What is an account?
- How do we use the accounts?
- What is GAAP? Explain.
- Explain the monetary assumption and the economic entity assumption.
- Please state the accounting equation. What are the main elements in that equation? Explain.
- How business transaction relates to the accounting equation? What are the main financial statements? Explain the purpose of each one of them.