Answer the Following questions

1)The course has stressed that you, as a front-line manager, have responsibilities in the preparation of accounting related information for your organization.

Using a specific business as an example, fully describe 2 separate inputs an accountant may ask front-line managers for, in order to help the accountant prepare accurate accounting information.

2)The 4 Financial Statements are prepared by senior accountants in an organization. Fully describe one situation where front line managers will be required to provide input into the formulation of the Income Statement.

3)In your own words, describe a specific instance where a business may experience a significant positive Net Income over a period of time, but a shortage of actual cash on hand during the same time period.

4)"Managers are responsible to know what's going on with their department's costs and revenues, but at the same time, do not necessarily have complete control over every item."

Describe a specific business situation which illustrates the above point