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Week 7 – a Word document for you to create, save, and submit. Always include your name and a
descriptive title in the file name.
Essay in word for you to prepare: (1) Partnership Accounting – How do we allocate profit or loss (similar
to closing the ‘books’ in a corporation); and (2) AIS Accounting Information System: What is COBIT
(reference website ).
Ask questions!
Your essay should be single spaced, double spacing between paragraphs. Use headers within the
document. We are writing business reports, not double spaced academic papers.
Tell a story. Explain the concepts. Use APA style for citations and create a works cited list. Your paper
should be adequate. Less than two pages is not long enough. Six pages is too long.
Consider the question and decide: what would you want to know? Include web site references in your
essay. This is not a business proposal but it is not a casual reflective essay. The goal is to research,
consider, and report what you know about these topics. AIS relates to audit as well.
Why audit? We will either be the auditor or be audited. We need to understand internal control and the
management of risk. The management of risk is everyone’s responsibility.
We are building your vocabulary. You can use the above concepts, especially the paragraph on “Why
audit?” without reference. A good item for your works cited list: UMUC ACCT 220 Course Materials.
Ask questions? Spell check. Write, read, and edit. Take care with word selection and sentence structure,
For all submissions in our class, use your own words. Show what you know!

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