The Role of Accounting on Business and Our Society
1. Describe the purpose of each finanacial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position 2. Compare the major functions of an accountant to that of certified public accountants in our society from a U.S. or gobal perspective. 3. Imagine that you have decided to create your own business venture. Determine whether the company will be a service or merchandising company. Describe the difference between the charts of accounts for both company. 4. Based on the company that you selected in #3 above,make an arguement for automating the accounting process, and implementation at least three (3) types of internal controls to prevent or detect theft or fraud.