a Accountants cannot do their job effectively if they do not have a detailed understanding of the

Question:

a Accountants cannot do their job effectively if they do not have a detailed understanding of the business’ bookkeeping systems.

b Bookkeeping is done by technicians and computers; it is not a matter for managers and accountants.

Discuss these two statements. With which do you most agree, and why?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Understanding And Practice

ISBN: 9780077139131

4th Edition

Authors: Robert Perks

See More Books

Question Posted: May 14, 2024 06:02 AM

See More Questions

Research various global financial services organizations (for example, UBS AG, E-Trade, Schwab, ING, Bank of America, HSBC, RBS) through their company websites and other publicly available...
Question: Evaluate the two forecasting models described in the case for predicting daily check-in volume. What are the strengths and weaknesses of each one? Do you find any of the results surprising?...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
A heating contractor must heat 0.2 kg/s of water from 15C to 35C using hot gases in cross flow over a thin-walled tube. Your assignment is to develop a series of design graphs that can be used to...
1. Use units to help you find the missing information. a. How many seconds would it take to travel 15 feet at 3.5 feet per second? b. How many centimeters are in 25 feet? (There are 2.54 centimeters...
Cash flows from taxes on income must be separately disclosed under: A. IFRS only. B. US GAAP only. C. both IFRS and US GAAP.
Does not consider contrary findings and alternative interpretations in synthesizing quantitative literature.
Master Fab Inc. is considering an investment in equipment that will replace direct labor. The equipment has a cost of $115,000 with a $10,000 residual value and a 10-year life. The equipment will...
B. Industry Situation and Company Plans (Access the December 31, 2022 audited annual report (Form 10-K) of: Valero Energy Corporation) Describe the industry and its outlook and summarize the...
The power of accountants and accountancy lies mainly in their control of the official financial recording system. Discuss.
In preparing the trial balance, you notice that the debit side exceeds the credit side by 970. Upon investigation, you identify the following mistakes: 1. Goods returned to suppliers amounting to 250...
Why is ABC growing in popularity?
The following events apply to 2011, the first year of operations of Shay Services: 1. Acquired $\$ 25,000$ cash from the issue of common stock. 2. Paid $\$ 18,000$ cash in advance for a one-year...
Refer to the information for Gotta Cotta in PB 10-5. Required: Compute the following for Gotta Cotta: 1. Fixed overhead spending variance 2. Fixed overhead volume variance. 3. Over or underapplied...
Refer to the information in PB10-9 for Catch a Wave. Required: Prepare journal entries to record the following for Catch a Wave: 1. Variable overhead costs and related variances. 2. Fixed overhead...
The accounting equation of Matthew Thomas, attorney, at the beginning of an accounting period is given below, followed by seven transactions whose effects on the accounting equation are shown....
Link's Lumber creates pressure-treated utility poles from pine logs bought from several surrounding pine plantations. At the Link's Lumber operation, a batch of 100 pine logs yields 85 utility poles...
A deposit of $750 earns interest rates of 9 percent in the first year and 12 percent in the second year. What would be the second year future value?
The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books: Accounts...
Child Tax Credit (LO 7.1) Calculate the total child and other dependent credit for the following taxpayers. Round any division "up" to the nearest whole number. c. James and Apple have AGI of...
Patrick
Make or Buy A restaurant bakes its own bread for a cost of $168 per unit (100 loaves), including fixed costs of $31 per unit. A proposal is offered to purchase bread from an outside source for $98...

a Accountants cannot do their job effectively if they do not have a detailed understanding of the

Question:

Step by Step Answer:

The two statements present contrasting viewpoints regarding the role of accountants and their relationship with bookkeeping systems Lets discuss each statement and analyze their merits Statement A Acc...View the full answer

Accounting Understanding And Practice

Students also viewed these Business questions