Journal Entry Five

For Learning Plan 5 our competencies were to evaluate financial statements using analysis and evaluate professional growth. Through this learning plan I have learned how to make financial statements analysis' and finished with my goals and how I want to achieve them. http://www.ohiodominican.edu/uploadedFiles/Library/CoursePages/Courses/Bus/Bus498/Financial%20Statement%20Analysis%20Paper%20Example.pdf This website had an example of the analysis'. It helped to look at a well-known company to see how they made their statements. https://www.youtube.com/watch?v=OT1BVZPNfks This youtube video also helped when I was trying to do the book work, it helped me understand more than the book shows you. http://www.forbes.com/sites/work-in-progress/2011/06/21/creating-your-professional-development-plan-3-surprising-truths/ This website helped me with learning some things about professional growth plans. One thing the website taught me was that a professional growth plan is never done, because learning is a long-term process and if you want to further your career you have to continue your skills. We also talked about the importance of financial statement analysis. So this website just gives a few reasons of why they are important. I thought it would only be important to the company but there are other people who they are effected by. http://accountlearning.blogspot.com/2010/02/importance-of-financial-statement.html For the big assessment we had to work in a team and with it being online it is more difficult. And this website gave me some tips to help with that. http://moondaisy.hubpages.com/hub/Tips-for-Working-as-part-of-an-Online-Team Although the Movies Door to Door book does not show examples of how the company the friends created, after a few chapters in the discussion questions they ask: how would certain things affect these financial ratios. One of them we learned that they mention is, current ratio. Examples of this are on page 67, 80, and 91. With all of these new concepts I learned, if I ever have to do accounting or want to go into the accounting field, I will have already learned some of the key things that you will have to know to make company successful through financial statements.