Accounting Practice

5. As a controller, discuss three risks and three advantages you will consider before moving your companys accounting function to the cloud.

6. As a new controller, describe with reasons, three reports you will want to receive from your subordinates immediately after you are hired. Also, describe with reasons, three management reports that you will prepare more frequently (perhaps weekly).

7. What is the difference between the accounting function and the accounting department? How are these two evolving?

8. Based on the Quickbooks project we did in class, as a controller for Green Landscape, point out to the owners any: a) two businesses risks, and b) two accounting risks their business faces. Also, advise them on how to minimize the potential dangers from EACH of these risks [Creating a table with one column for the risks and other for solutions is suggested but not a required format]. Examples include but are not limited to using desktop versus online QB, customer concentration, financial ratios, etc.