WHAT YOU WILL LEARN:
How every business is engaged in three primary business activities: operating, investing and financing activities. See how business activities interact with Balance Sheet accounts and learn a nifty acronym for upcoming tests!
HOW IT WILL APPLY LATER ON:
As we begin to prepare financial statements, you'll come across the Cash Flow Statement. Everything on the Cash Flow Statement is categorized by business activities. Don't expect to pass Financial Accounting or become an Accountant if you don't understand business activities!