Together in your circles, read Chapter 1 of The Accounting Game. I recommend that you take turns reading it out load together, stopping to talk about what you read.

Have one of the members of your circle act as note taker. Answer the following questions:

1. What is the setting the authors are going to use teach us about the language of business? Why do you think they chose this framing?
2. What is the initial investment our protagonist puts in to start up his business?
3. When the authors first instruct us to keep score of the cash flowing through the business, they say we need to make not of two things. What are those two thing?
4. What are the big red words the author tells us several times, and instructs us to memorize, suggesting that we tape them to our forehead?
5. Realizing that the initial owner's investment will not be enough to fund the start of the business, what does our young entrepreneur do?
6. Describe how this new transaction is described in our accounting ledger. What to we call the things on the right side of the ledger? What do we call the things on the left side?
7. Write out the next form of the accounting equation that the authors tell us to memorize. Look up this equation on the Internet. What is it called?
8. Write out the financial score card that is presented on the top of page 8 of the book. Include all the column labels and amounts.

Include the names of everyone who worked together answering these questions at the top of your document. Save the document as a PDF and have your circle leader email it to me by the end of class.