As stated above, Warren Buffet coined the term: Accounting is the language of business. Accounting has its own distinct language, and in Chapter 3 of the text, you are introduced to many of the terms of this language (debits, credits, journal entries, etc.) Please explore this further by commenting on the following:

• How is accounting its own language?
• If you are a current accounting major, why are you majoring in accounting?
• If you are majoring in a field outside of accounting, do you think it will be important to know basic accounting principles to perform well in your future career? If so, why? If not, why?