Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position
Write a two to three (3-4) page paper in which you:
1. Describe the purpose of each financial 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 a certified public accountant. Make an argument for and against the importance of accounting and accountants in our society from the U.S. or global 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 differences between the charts of accounts for both companies.
4. Based on the company that you selected in 3, make an argument for automating the accounting process, and implement at least three (3) types of internal controls to prevent or detect theft or fraud.
The specific course learning outcomes associated with this assignment are:
• Identify and explain the fundamental concepts and principles in accounting, the components of the accounting equation, the primary financial accounting equation, and financial statements and reports.
• Use technology and information resources to research issues in financial accounting.
• Write clearly and concisely about financial accounting using proper writing mechanics
|Academic Level||College (1-2 years: Freshmen, Sophomore)|
|Paper Type||Argumentative essays|
|Number of Pages||2 Page(s)/550 words|