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Economics: Ch. 3- The Production Process: The Behavior of Profit Max For Economics, the production process is the solitary area that needs to be focused more for me. It is to my understanding that the production process involves combining a contribution of assets to construct a productivity of goods and services. There are three types of assets: National, Capital and Human. It is apparent to me that all firms require services to complete production processes. It is to my indulgent that firms rely on the service industries to offer production processes as a result making them both mutually dependent. There are additional information that was rigid for me to comprehend, but I deem I understand the broad fundamentals of production process. In order for me to achieve improved understanding of this specific area, I will need to do more research and read more about why this is significant in economics. In the course of research and increase knowledge will help me to accomplish a better perceptive of the production process. Accounting: Ch. 4- Accrual Accounting In accounting, the accrual accounting is the area that needs most focus. Knowing that I want to pursue a profession in accounting, it was very appealing to read about accounting and having the capability to comprehend the philosophy of accounting. For the most part, I was able to understand most of the chapters for accounting. My comprehension for accrual accounting is that it refers to any entity access recording profits or expense in the nonexistence of a cash operation. Through this technique, income and operating expense are usually recorded as they arise. So profits are counted when the transaction occurs and expenses are counted when you obtain the goods or services. Again, there are other areas where I struggled, but this is the one area I need most focus on. My plan to achieve a better indulgent in this area is to do more research, read more about accounting and be vigorous in doing some accounting problems just for practice. Finance: Ch. 4- Financial Forecasting, Planning and Budgeting Financial Forecasting, Planning and Budgeting were the most complicated area for me to understand out of all the other chapters. It is to my perceptive that forecasting, budgeting and planning is the establishment for any efficient business preparation. Financial planning refers to as using credentials and communication as a tactical purpose in financial terms. Budgeting refers to annual procedure that that shows record of previous year’s authentic performance statistics. Forecasting means the business is to regulate future prospect based on recent concrete performance. These three are also very imperative to helping the business to impel profits. I plan to do more research, evaluate the disparity between the three and understand better why it is important to finance and the business world in order to better understand the principle of forecasting, planning and budgeting. Statistics: Ch. 6- The Normal Distribution and other Continuous Distribution The normal distribution and other continuous distribution is a complex focus for one with little business background to understand. To my understanding for this precise subject matter, the normal distribution is significant suitable to the Central Limit Theorem. The CLT explains that as the sample dimension increases, subsequently any probability allocation can be approximated by the normal allocation and the estimate increases as the dimension of the sample size increases. The normal distribution has two perimeters – known as the mean and standard deviation. It is to my understanding that having exceptional acquaintance of the two perimeters will help me to better understand more about the normal distribution. Researching and evaluating more about the distributions will permit for me to accomplish my ambition to achieve a better understanding of this specific vicinity.