A Better Understanding

Economics will force me to find out and appreciate how economic concepts and principles relate to me as a consumer, saver and investor. For a better appreciative of finance, I need to be able to read and understand a profit and loss statement. I need to be able to determine the impact of capital expenses, major expenses, labor increases or decreases, maintenance expenses, and every other expense.   I also should know how to read and understand a balance sheet and cash flow statement. I do not need to be an expert, but knowing how expenditures affect each of the profit and loss statement, cash flow statement, and balance sheet must be understood to be most effective in a managerial capacity. To understand accounting, the math that is involved usually isn’t worse than multiplication. Accounting isn’t about math, but relatively concepts. I need to understand that the accounting method a business uses can have a major impact on the total revenue the business reports as well as on the expenses that it subtracts from the revenue to get the bottom line. Business Statistics will teach me a range of statistical concepts and techniques, enabling me to gain a complete understanding of the subject in relation to the wider subject of business studies. In general, to gain a better understanding of the four disciplines requires studying and reading on my own, but that can only take me so far. Classes often include discussion and assignments and or exams that push it to the next level.