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The purpose of this assignment is to get a picture of the various roles managers play and the skills required to perform effectively in an accounting role.
You should choose to interview someone who has been in the accounting field for at least 2 years, employed full time. Please use the questions below, but feel free to add your own. Ask frequently for examples which illustrate the interviewee's experience. When an interviewee tells you an interesting story, make sure to ask further questions so you understand how this experience is related to their work and their skills.
Take notes during the interview and then summarize what you learned. Do not provide a verbatim account of the interview! Rather describe what you learned about he accounting field, the skills needed to be successful, what challenges they face, etc. Start the interview by having the individual describe their organization, their specific role and their background briefly. Then use these questions to follow up:1. Describe a typical day at work.2. What are the critical skills needed to be successful in your line of work?3. Name one recent change you had to deal with at work and describe how you managed that change.4. What do you like best about your work in the field of accounting? Like the least?5. What would you like to learn more about that would help you to continue to improve in your job?6. What one piece of "advice" would you give to someone considering a career in accounting?
Why may net cash flow from operating activities on the cash flow statement be different from the amount of net income reported on the income statement?
Discuss the key factors that should be considered when determining whether an item should be expensed. Speculate how Joe Carter arrived at his decision to expense the carpets replaced in the apartments.
Calculate the cash dividends required to be paid for each of the following preferred stock issues: The semiannual dividend on 6% cumulative preferred, $50 par value, 30,000 shares authorized, issued, and outstanding.
Medical Instruments produces a variety of electronic medical devices. Compute the materials variances for silver tubing and comment on their meaning.
Following are selected accounts for Green Corporation and Vega Company as of December 31, 2010. Several of Green's accounts have been omitted. Compute the book value of Vega at January 1, 2006
In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
Which of the following is a contingency that should be accrued?
Top management has decided the transfers between the two divisions should be at $19. Compute the effect of the transfer on the net income for the Battery Division, Automotive Division, and the total company
Funseth Farms, purchased a tractor in 2008 at a cost of $30,000. The tractor was sold for $3,000 in 2011. Depreciation recorded through the disposal date totaled $26,000.
The return an investor earns on a bond over a period of time is known as the holding period return, defined as interest income plus or minus the change in the bond's price, all , all divided by the beginning bond price.
Your required a rate of return is 4%. What is the value of a contract that pays the buyer $100 a year forever (the first payment is made exactly one year after purchase) plus an additional $1000 a year for the first 10 years
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
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