1. Write a 150- to 200-word individual response to the following: Consider the multiple definitions of collaboration. Define collaboration and how you will apply it in this course based upon the discussion with your Learning Team. Be sure to reference and cite your source

2. Discuss with your collaborative group how to develop a reflection on the effect of each transaction on assets, liabilities, and stockholder's equity.

Write a 175-word individual response

3. In the 1400's, Luca Pacioli, who is known as the father of accounting, introduced the world to a better understanding of accounting and the double entry accounting system through his book, Summa de Arithmetica, Geometria, Proportioni et Proportionalita. Today, the same principles and concepts keep many companies around the world well informed of their financial standing:

• How are business events captured for reporting?
• What is the ultimate purpose of communicating accounting information?

5. How are changes in business activities monitored and tracked?

6. What are the steps in the accounting cycle? Is the order of the steps important? Why or why not?