You are in charge of giving a trial final exam to classmates. Set up two problems from different areas of financial reporting that you studied in this course. (Feel free to use problems from your assigned textbook.) Submit them as your initial post as early as possible with any instructions or “hints.” In your second post, solve two problems submitted by another classmate. In a third post, submit the answer key to your original two problems. Find the answer key in other posts for the two problems you solved. As you go along, interact with others about problems and solutions and any other challenges you are facing in financial

reporting.
Question 2
There are two main types of strategies for cost that are in use today: product differentiation and cost leadership. Product differentiation leverages differences in the product to drive unique value to consumers and decrease the focus on costs per unit. Cost leadership, on the other hand, looks to reducing the costs of doing business to a point where the business carries the lowest costs in the industry.
Select one of these two strategies and share an example of how you would use it to decrease your overall costs and increase your revenues if you were CEO for a day.
Question 3
Over the last ten weeks we conducted a broad exploration of the world of managment information systems. As noted in the week 01, “This class won’t make you a technical wizard”, but by now you should have a strong understanding of the role of infomation technology in business today. Take a moment and reflect on all you learned. Share with the class at least one new concept you found particularly insightful. Explain why it sparked your interest.