ASSIGNMENT:
Define the accounting function of a business.
Why is accounting such an important function in business?
How might a company use accounting to understand its own
financial strengths and weaknesses?
Define the Finance function of a business.
Why is Finance an important function in business?
How might a company use finance to decide whether or not to
undertake future projects?
What is the difference between short-term financing and
long-term financing?
Assume that members of Bill family form a corporation...
Why is accounting important? Who governs accounting? How
consistent is accounting among companies in the same industry? Can
you show an example of where accounting rules may be applied
differently and yet consistent with GAAP? Why do we care as a
society about accounting rules? Show by way of example, what
happens when a company does not follow legitimate accounting
practices.
Explain the value of financial ratios and why they are
important? How are they used by companies, by investors,...
Why is accounting important? Who governs accounting? How
consistent is accounting among companies in the same industry? Why
do we care as a society about accounting rules?
Please cite two or more resources
What is a cost accounting system? Why is a cost accounting
system important for a business? A business without a cost
accounting system cannot effectively manage its operations. Give an
example of how a company you are familiar with costs its products
or services.