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Prior to beginning work on this journal,

Read Chapters 1 and 2 in the course textbook, Using Financial Accounting Information: The Alternative to Debits and Credit.
Review the Balance Sheet Resource downloadand Income Statement Resource .

For this journal, complete a personal balance sheet and income statement. The Balance Sheet Template downloadand Income Statement Template downloadwill help you get started. You may modify the line items as necessary in the templates. You may complete the templates using your own personal financial data, which will make the activity more meaningful, or you may use hypothetical numbers. Then, reflect on your completed Balance Sheet and Income Statement Templates. Discuss the most important concepts and facts you have learned.