Locatethree job postings within your state for positions in the field of accounting. Writea 200- to 300-word summary of the educational requirements for each position, the starting salary (if listed), and a brief description of the responsibilities of the position. Based on what you know about accounting, what role do you see it playing in business operations? How dependent do you think a business is on its accounting department? Why are ethics so important in the field of accounting? Writea 350- to 700-word paper describing a balance sheet, an income statement, a retained earnings statement, and a statement of cash flows. How does a company use these financial statements to make future business decisions? Format your paper according to APA standards. Explain the differences between a proprietorship, a partnership, and a corporation in 200 to 300 words. Why would an entrepreneur want to choose one over the other? If you were starting a new business, which would you choose?
When reviewing a financial report, why must information be reliable, relevant, consistent, and comparable? Why are these accounting characteristics important? What kinds of problems might result if a financial report is not reliable, relevant, consistent, or comparable? How does information from financial reports influence business decisions? Why is it important for business managers to understand the information found on financial reports? The accounting department receives from sales invoices once a month. Most of the information is missing on the invoices. Rob, Sue, and Bob use the same cash register at the donut shop. Sam does the ordering of materials at the beginning of every month and pays the bill. Bank reconciliations are done by the person who is responsible for all cash responsibilities. New checks came in and are left on the shelf with other supplies. Everyone has access to the computer system and the last audit was seven years ago by the former accountant.
Include how a company might use the five basic principles of cash management to increase accuracy for a business. Please explain all of the internal controls substantively. Format your paper according to APA standards. Use Appendix B. For each principle in the matrix, describe how the principle ensures the reliability of a company’s financial statements and provide at least one example of how the principle might work in a real company. Do not use examples from your text. Write a 200- to 300-word response to the following: Describe how the following financial reports are used internally in a business: income statement, balance sheet, CVP income statement, statement of cash flows, and retained earnings statement. Give real world applications by using examples to demonstrate the type of business decisions that are made using these statements. How would you describe the difference between financial and managerial accounting? What are the distinguishing features of managerial accounting?
Select a management function— planning, directing and motivating, or controlling—and explain how that function relates to business as a whole. Next, select a different function listed by a classmate. Discuss with your classmate how the functions you each selected complement each other. Review the following illustrations found in Ch. Explain the components of cost-volume-profit analysis. What does each of the components mean? Based on the formulas you have reviewed, what happens to contribution margin per unit when unit selling prices increase? Illustrate your explanation with an example from a fictitious company of how an increase in unit selling prices might affect contribution margin. When fixed costs decrease, what does this do for sales? Illustrate your explanation with an example from a fictitious company. What happens to contribution ratios as one of the components changes? Format your paper according to APA standards. Use Appendix C to define each of the types of budgets listed and describe their uses. You know how important it is to create budgets for your household.