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An accounting is a service function. The main accounting executive through whatever name he is termed as holds a staff position except inside his own department where he exerts authority. It is in contradistinction to the roles played through production or marketing executives who hold line authority: The responsibility of the accountant is advisory in character. He works by the authority of the main executive. The accounts and or finance departments do not exercise direct authority over line departments. In decentralized structure along with a number of divisions and units, the accounting executive though exercises what is termed as the functional authority over all the accounting staff deployed in differ segments.
There are two facets to the function of the accountant. For the top managers he works like a watchdog and for lower and middle level managers he serves as 'helper'. The watchdog role is generally performed by 'score-keeping' task of accounting and reporting to all levels of management. The 'helper' role is usually performed through the task of directing managers' attention to problems and assisting them in resolving problems. Mutual understanding and rapport among the accountant and the manager, in the tasks of attention-directing and problem-solving can be enhanced if accountant and his staff frequently interact along with the line managers and guide them in matters related with preparation of budgets and control documents along with that they might not be conversant. This will instill confidence among line managers regarding the reliability of reports.
Limitations of Funds Flow Statement : despite the a variety of uses of the announcement, it has convinced problems also. They consist of the subsequent i) It cannot substitute
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The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate
I''m trying to figure out how do do a journal entry. The question reads...a company purchased land worth $49,000 for an office by paying $6,300 in cash and signing a long term note
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On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following we
What is Internal control - Control of cash Internal control refers to procedures and methods a business uses to protect its assets. Checks are written for all transactio
pls explain expenses incurred
what are the limitation
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