In chapter 11 of Entrepreneurship:
Theory, Process, and Practice, I didn’t find any parts to be surprising or
interesting. I’ve taken both financial and managerial accounting so I’ve seen
this information before. The only section of the chapter that was something I
either haven’t seen before or don’t remember is the payback method on page 334.
In this chapter I didn’t find any section
to be particularly confusing, probably because, for once, I’ve taken a class
that covered this material before. I think it would have been very confusing to
me if I didn’t have any previous knowledge in accounting because I think that
you really need more than one chapter to understand the accounting that goes
into managing a business.
It would be interesting to know if Kuratko
thinks fixed costs are more important than variable costs. I believe that my
accounting teacher mentioned fixed costs being more important but I wonder of
Kuratko thinks different. Something else I would be interested in knowing is
which situation is most important the payback method, net present value, or
internal rate of return. I’m not very familiar with the payback method so it
would be interesting to see how it compares to net present value and internal rate
of return.
This chapter seemed very straightforward
and for the most part a review of previous accounting classes. With that said,
there isn’t really anything that I disagree with. Most of the information given
is very similar to what I’ve already learned.
