Prior to beginning work on this journal,

• Read Chapters 1 and 2 in the course textbook, Using Financial Accounting.
• Read Chapter 3 from the Warren Buffett Accounting Book: Reading Financial Statements for Value Investing.
• Review the Balance Sheet Resource Download Balance Sheet Resourceand Income Statement Resource Download Income Statement Resourcedocuments.

For this journal, complete a personal balance sheet and income statement. The Balance Sheet Template Download Balance Sheet Templateand Income Statement Template Download Income Statement Templatewill help you get started. You may modify the line items as necessary in the templates. You may complete the templates using your own personal financial data, which will make the activity more meaningful, or you may use hypothetical numbers. Then, reflect on your completed Balance Sheet and Income Statement Templates. Discuss the most important concepts and facts you have learned.

Your reflection should be a minimum of 350 words. Submit both your completed templates and your reflection to Waypoint.