Answered>Order 11598

Discussion 1 (100-250 words)

Discussion 2 (250-350 words)

Discussion 1 Why do I Need Accounting? (100-250 words)

Consider the following scenario: Your friend (who is also in school) just emailed you to express frustration with his accounting class.  In the email, he said, “Why do I need to take accounting? What will I ever need to know about reporting and analyzing long-lived assets? I am a management major.”

Write a 100- to 250-word response to your friend, including specific details about the benefits of learning accounting.  Focus particularly on reporting and analyzing long-lived assets from a manager’s perspective.  Discuss the benefit and purpose of learning accounting as a business student. 

Discussion 2 Annual Reports (250-350 words)

Visit the website for Tootsie Roll http://  Click on “Company Information” then “Financial Information”. Open the latest annual report and review it to find the answers to the following questions:

• What are Tootsie Roll’s corporate principles?  Do you agree with these principles, or do you feel there are additional principles that should be included?
• What was the total amount of Tootsie Roll’s assets for the most current year available?
• What was the total amount of Tootsie Roll’s liabilities for the most current year available?
• What is the amount of the difference between Tootsie Roll’s assets and liabilities? What is this difference called?

Based on your initial findings at the Tootsie Roll website, would you consider investing in them? Why or why not? Your answer should illustrate critical thought and understanding of the annual report and financial statements.