Financial Accounting final tomorrow!

Thank goodness the accounting final is tomorrow! That has been one of the harder classes for me this summer because I have absolutely no accounting background at all. I know how to balance my checkbook (although knowledge is different from actually doing it sometimes) but that's about it.

But conceptually it was a very interesting class. I liked learning how to read financial statements and understanding the plethora of information a company reveals in those statements. For instance, one thing that I still find intriguing is Coca Cola. Two months ago if you had asked me what their primary business was, I would say that obviously it is producing coke products. But in actuality they essentially a syrup producer. They produce the syrup but the bottling companies are the ones that mix and distribute the final product. For some reason I found that kind of information fascinating.

Another thing I got out of this class is the relativity of money. We would read statements and see companies throwing around millions or billions of dollars. Companies would make multi-million dollar decisions and refer to them matter-of-factly. Then on the other hand, some weeks I struggle to come up with the $35 it takes to fill up my gas tank every 3 days (it is 55 miles, one-way, to school so I spend a lot on gas). It's all a matter of perspective I guess.

So I like the ideas and concepts we learned in this class. But the t-accounts still mess me up, still not sure I am doing the journal entries correctly, and I can live without doing things like determining the amount at which investments are reported on the balance sheet and the amount of investment income recognized by the investor on the income statement.

Alright, break time is over....back to studying because I have the final, which is 50% of our grade, in 23.5 hours :)

Oh, and by the way, in case anyone was wondering it is still hot as heck out here. Today at 3:00 the temperature in Aiken was 105 degrees with a heat index of 117. But luckily it's supposed to cool off tomorrow and only get up to 102 :)