BUS 2204 Finance Market Value of The Apartment Location Questions – Description
INTRODUCTION
Chapter 2, “Basic Ideas of Finance,” introduces the basic financial and accounting categories of revenues, expenses, assets, liabilities, and net worth as tools to understand the relationships between them as a way, in turn, of organizing financial thinking. It also introduces the concepts of opportunity costs and sunk costs as more implicit but no less critical considerations.
Chapter 3, “Financial Statements,” continues with the discussion of organizing financial data to help with decision making, and of basic analytical tools that can be used to clarify the situation portrayed in financial statements. This chapter should create enthusiasm for personal financial accounting and the usefulness of accounting statements
READING ASSIGNMENT
Read Chapters 2 and 3 of the Personal Finance textbook by Rachel Siegel and Carol Yacht.
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Answer the following:
a. How is net worth calculated?
b. What is the meaning of the statement that your net worth is the equity you have in your own life?
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