The information learned today was more on the accounting side of the business.  We learned what goes into an income statement and balance sheet.  We also learned about owner's equity and liabilities.  The different kind of liabilities are current and long-term.  These types of subjects helps us understand what we need to do to keep the business afloat.  We also learned about liquidity, current ratios, and quick ration.  We also learned why businesses can have negative balances yet still show a positive income.  The cash flow statement can show where and when money will coming into the business.

Reflection:  I believe the information learned today will help all the students with the understanding of the accounting side of a business.  It has cleared up some questions about where the money is at in the business.  The accounting side of a business is important to an entrepreneur because he needs to know what is happening with his money and more importantly, why.  I feel strongly about the need for this information.  It will help me and the students of this class later in a business but also later in life.