M1.5 Week1 dissc

Accounting professionals apply many technology tools to aid them in their everyday tasks and decision making. The General Ledger tool in Connect automates several of the procedural steps in the accounting cycle so the accounting professional can focus on the impacts of each transaction on the full set of financial statements. use this tool in helping students see the advantages of technology and, in particular, the power of the General Ledger tool in accounting practice, including financial analysis and “what-if” scenarios. How much are total expenses for Apple for the current year?

Advanced Accounting requires many rules and regulations. The latter come from many sources. In your Journal this week you will research two rules or regulations that pertain to Advanced Accounting topics and submit them to your Unit 1 Journal. For each of the rules or regulations, answer the following questions. What is the name of the rule or regulation? What agency or government created the rule or regulation? Does any agency or government have the power to enforce the rule or regulation? If so how? If not, does this hinder the enforcement of the rule or regulation?

You are employed by a business consulting firm as an information systems specialist. You havejust begun an assignment with a startup company and are discussing with the owner her need for anaccounting system. How would you respond to the following questions from the owner?a. What is the meaning of the term accounting system?b. What is the purpose of an accounting system and what are its basic functions?c. Who is responsible for designing and implementing an accounting system?

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Many accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in manufacturing. This is especially the case for process manufacturing environments (for example, a bottling plant or chemical factory). To provide professional accounting and financial services, one must understand the industry, product, and processes. We have an ethical responsibility to develop this understanding before offering services to clients in these areas. Required Write a one-page action plan, in memorandum format, discussing how you would obtain an understanding of key business processes of a company that hires you to provide financial services. The memorandum should specify an industry, a product, and one selected process and should draw on at least one reference, such as a professional journal or industry magazine.

this is my account assignment questions please help me

What is the role of accounting and accountants? Include answers to the following two questions in your explanation: What is the difference between financial and managerial accounting? What is the difference between public and private accounting? Provide specific examples from your experience and/or this week's readings to support your ideas.

Please list at least 5 major differences between Managerial and Financial Accounting. Include in your discussion who the important players are in each, who is using the information, and what type of information is everyone focused on. Please explain why each type of accounting (managerial and financial) plays an important role in the organization.

The accounting and finance department performs processes such as creating financial statements, paying accounts payables, and collecting accounts receivables. What form of processes do these represent? Customer-facing processes Business-facing processes Industry-specific customer-facing processes All of these

Question No.1 Accounting is an important service activity in business and is concerned with collecting, recording, evaluating and communicating the results of past events. The history of accounting developments reflects its changing role in response to the changing business and social needs. With the emergence of management accounting, the focus of accounting has been shifting from mere recording of transactions to that of aiding the management decisions. Accounting can be perceived as an information system which has its inputs, processing methods and outputs. The usefulness of accounting lies in its capacity to provide information to various stakeholders in business so that they could arrive at the correct decisions. The organizational setting for accounting and finance in different organizations, depending upon their nature and size of business, function may also vary technology and structural form. Required: Do you think that the role of Accounting is very important in a Merchandise…

Describe how information reduces risk when you make a personal or work-related decision. What are information rules? How do they simplify the process of making decisions? What is the difference between data and information? Give one example of accounting data and one example of accounting information. List the five functions of an MIS. What are the components of a typical business report? Describe the three types of computer applications that help employees, managers, and executives make smart decisions. What purpose do audits and GAAPs serve in today’s business world? How do the major provisions of the Sarbanes-Oxley Act affect a public company’s audit procedures? What is the principal difference between a balance sheet and an income statement? How are current assets distinguished from fixed assets? Why are fixed assets depreciated on a balance sheet? How does the use of money solve the problems associated with a barter system of exchange? For a business firm, what type of activities…

Give an example of how a company's accounting department works. This function serves what purpose and why is it necessary? Where can you get the information you are looking for?

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. Indicate whether each statement describes financial accounting or managerial accounting. The information is directed at external users who are making decisions pertaining to investing, extending credit, and other decisions. The principal users are the organization’s managers. The key focus is on the entity as a whole. The rules and principles are very flexible. The information gathered is usually available after an independent audit has been completed. 2.  Identify the following as True or False: Managerial accounting reports must comply with the rules set in place by the FASB. Financial accounting reports are typically general-purpose reports. Financial accounting reports pertain to the entity as a whole, whereas managerial accounting focuses more on subunits of the organization. The main users of the financial accounting information are the internal users. Managerial reports are prepared on an as-needed basis. Financial accounting reports often must be audited at least annually…

Many accounting professionals work in one of the following three areas. A. Financial accounting B. Managerial accounting C. Tax accounting Identify the area of accounting that is most involved in each of the following  responsibilities.

Which of the following is a mechanical aspect of accounting? Select one: a. Analyzing the transactions preparatory to the recording process b. Designing the accounting system c. Reviewing the effectiveness of the internal control procedures d. Preparation of the financial budget         Which of the following statement is not true? Select one: a. A non-accounting graduate may work as a bookkeeper or accountant of a business enterprise. b. A non-CPA may be engaged in public accounting. c. To be a good accountant, one must have mastery of mathematics. d. A non-CPA may be the chief accountant of a business enterprise.         The area of accounting that relates to providing audit, tax, and consulting services to clients. Select one: a. General managers b. Public accounting c. Incorporators d. Private accounting

Using the following prompts, share your experience learning about Accounting Information Systems: What is your overall reflection of the course? What were one or two of the topics covered in Module 8 that you think are most relevant for accountants now?   Which course topic(s) did you find most interesting?  Which of the topics did you find most confusing or challenging?