Week 5 Discussion

Assessed Discussion Question: Economics, Accounting, Finance and Statistics

In which area do you need to develop a better understanding and what is the plan to accomplish that better understanding?

The causes and effects of economics are sometimes difficult to follow. Understanding the growth in real wages drives consumer spending that accounts for at least two-thirds of the U.S. economy. As consumer spending improves the demand for goods and services improve which does have a trickle affect on various employment occupations. What escapes me is the many graphs and what they represent that can be overwhelming. The many slopes and interception that encompasses the way spending affects all aspects of daily life.

Finance and Accounting are similar to me in dealing with understanding profit statement, capital expenses, maintenance labor, and cash flow and profit and loss statements. This area is of great interest to me because I enjoy working with numbers. Statistics, on the other hand is a little harder for me. I understand the concept but it takes me a little longer to get the process down and feel good about the end result.

In each of these areas I want to gain a better understanding for my own personal satisfaction. Reading the Wall Street Journal and other financial publications is one way to improve my knowledge but most important for me is to take classes that are geared towards the fundamentals of these types of finance classes.

Reference:

www.phoenix.edu

www.omega-performance.com

www.signal-training.com/finance