Sociological imagination

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1. How has the sociological imagination allowed you to better understand your life? Explain the precise definition of the “sociological imagination.” Be sure to explain the difference between “personal troubles” and “public issues.” Explaining how using the sociological imagination allows you to understand yourself and how it may allow you to better navigate your future experiences and interactions in society.
2. How have you been motivated or influenced by social institutions? Which specific institutions have affected you the most? How have your life chances/access to resources been affected by specific social events and/or specific social institutions? How have these affected your life choices? You must discuss the influence of at least 2 social institutions (media, education, religion, family, economy, or government) in this answer.
3. Name your social class. Explain how your class affects your situation and life chances. How does the current state of the economy affect your situation? How has social class (or socioeconomic status) limited or enhanced your life chances and your access to important resources in society? How has your social class shaped the communities you have lived in and the institutions you have had access to? How has your social class affected your social networks, cultural capital, lifestyle, and worldview?
4. How does your race affect your life chances? Has your race brought you more privilege –or more prejudice and discrimination? What ethnic traditions or historical events have influenced your situation?
5. How do expectations for men and women (masculinity or femininity) influence you? How does your situation as heterosexual, homosexual, or bisexual affect your experiences? How have your sex, gender, and sexual identity affected your life chances? How have your sex, gender, and sexual identity affected your social networks, cultural capital, lifestyle, and worldview?
6. How has this class benefited you? How can you put the knowledge you have gained to use in a practical or self-actualizing way?

Sample Solution

  • Consolidating every aspect of a business’s dealings into one set of statements, financial reports allow the world to analyze and interpret every aspect of a company’s dealings. These statements include the income statement, the balance sheet, and the statement of cash flows.

    The income statement summarizes the totals of revenues and expenses, calculating net gain or loss for a period. The balance sheet shows the current calculated or estimated values of a company’s assets, liabilities, and owners’ equity. This statement does not summarize a period like the income statement but rather provides a snapshot of a company’s current financial position. The statement of cash flows contains all sources and uses of a firm’s cash supply during a period and explains liquidity of a business.

    Using values from these statements, a reader can calculate certain financial ratios that help compare and contrast companies. The ability to correctly create and interpret these statements is vital for an accounting professional because succeeding in the industry requires communication through these means. This vocabulary may take years of education and/or training to perfect, as there are many small nuances in financial statement terminology. Failure to comprehend the common acronyms found in these statements can significantly hinder one’s ability to make sense of the financial statements and confidently assess a company’s future potential. These include, but are not limited to:

  • Dr (debit) – a numerical entry to the left side of the balance sheet
  • Cr (credit) – a numerical entry to the right side of the balance sheet
  • ROI (return on investment) – measures the amount of return on an investment relative to the investment’s cost
  • PV (present value) – the current worth of a future sum of money or cash flows given a specified rate of returnProfessional Discourse Communities within the Accounting IndustryThere are many discourse communities that members of the accounting industry belong to, but the most significant one for public accountants is the American Institute of Certified Public Accountants (AICPA), which represents the CPA profession nationally. The organization educates its members in the form of daily columns and newsletters. In addition, it develops and grades the CPA Exam and enforces compliance with the profession’s ethical standards (AICPA, n.d.). The AICPA provides guidance in setting new rules and standards for the industry and serves as the profession’s advocate before legislative bodies, public interest g

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