Media Summary The media sources I used this week are the same media sources I used in the previous weeks of this course. The media sources I used for this week’s topics included the textbook, the online videos provided, and my wife.
I used the text book for most of the assignments this week. I felt like the text book for week 2 and week 3 did a good job of explaining the meanings of the topics presented and did not require additional readings. Chapter thirteen introduced the concept of sustainable income, or “the most likely level of income to be obtained in the future.”(Kimmel, Weygandt, Kieso, 2011). Chapter thirteen also explains how irregular items are presented, comprehensive income, the horizontal analysis, vertical analysis, how to compute ratios, and the concept of quality of earnings.
Another valuable media source was the online videos. The video “Balancing the Books: Understanding Financial Reporting” discusses accounting tools, how the balance sheet works, profit and loss, and other topics. Like the previous videos, this video directly relates to and supports the topics in the text. Also, like the videos in previous weeks, the video is a nice change of pace from reading long text. I actually liked the videos used in week two more than the video used in this week’s lesson. The “Jeopardy” style video was a little boring and the way the contestant flashed back to his experiences made it a little drawn out for my taste, however I understand the attempt to make the concepts more interesting.
The other resource I used this week that I did not use in the previous weeks was my wife. My wife manages the accounts for a utility company, among other things, so she is fairly versed in accounting principles and application. My wife and I spend a lot of time working next to each other in the evenings. For some of this week’s lessons I had questions and, because she was close by, I just turned and asked for her opinion. It is nice to be enrolled in a class that my wife has an interest in.
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