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oee [108]
3 years ago
11

As a new​ controller, reply to this comment by a plant​ manager: "As I see​ it, our accountants may be needed to keep records fo

r shareholders and Uncle​ Sam, but I​ don't want them sticking their noses in my​ day-to-day operations. I do the best I know how. No bean counter knows enough about my responsibilities to be of any use to​ me." Why are accountants valuable to the organization? What responsibilities do managers have in understanding financial information?
Business
1 answer:
fiasKO [112]3 years ago
6 0

Answer: Accountants play major role in firms in handling financial records and auditing. Managers know financial information based on either background knowledge or learning on the job

Explanation:

The accountants are valuable to the organization because they monitor the monetary information that concerns the firm, they handle how cash come in and keep track of how they are spent, all these makes them valuable even to the extent of auditing information as regarding the firm. Managers might understand financial information either based on how they monitor what occurs in the organization or what they learnt in from college. But it's unsafe for the managers to handle financial situation without the aid of a professional accountant.

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explain how checking accounts work. how do you balance a checkbook? what are some problems that csn come from having a differenc
morpeh [17]

Answer:

You don't need to balance your checkbook anymore. ... Most people have learned to use online banking and apps, and they never learned to balance a checkbook. Unfortunately, there are still times when writing a check is the only option. This article is about how to keep writing checks while never balancing a checkbook.

Explanation:

Says google

6 0
4 years ago
"An investor has sold short stock worth $80,000 in a margin account, depositing the Regulation T margin requirement. If the mark
Bumek [7]

Answer:

$15000.

Explanation:

The worth of stock that the investor sold = $80000

The fall in the market value of the stock = $65000

Since the value of the stock falls to $65000. thus, the SMA in the account can be calculated by eliminating the decreased amount from the stock value. Therefore, the SMA in the account will be 80000-65000 = $15000

3 0
4 years ago
Corporation has 11,900 shares of $100 par value, 7%, preferred stock and 45,000 shares of $10 par value common stock outstanding
likoan [24]

Answer:

$249,900

Explanation:

The dividend in arrears on December 31, 2020 is shown below:

= Number of preferred shares × par value × dividend rate × number of years

= 11,900 shares × $100 × 7% × 3 years

= $249,900

The 3 years is taken from December 31, 2017 to December 31, 2020

Moreover, it is not reflected on the liability side but is should be disclosed  on the owners equity notes section

6 0
3 years ago
True or false: if country b has an absolute advantage over country a in producing bicycles, it must also have a comparative adva
erastova [34]
<span>This statement is false. An absolute advantage is the countries ability to carry out a certain economically advantageous activity better than another country or group while a comparative advantage is the ability to carry out an economic activity better and more efficiently than another activity.</span>
3 0
4 years ago
The main difference between a discretionary and nondiscretionary accrual is: Discretionary accruals are items that management ha
Virty [35]

Answer:

The correct answer to the following question is option A) Discretionary accruals are items that management has full control over .

Explanation:

Non discretionary accruals can be described as those expenses ( that are obligatory in nature ) which are yet to be realized by the company but such expenses are already recorded in the books of accounts . Examples of such expenses can be like employees next month salaries.

Discretionary accruals can be described as those expenses ( that are non obligatory in nature ) which are yet to be realized by the company but such expenses are already recorded in the books of accounts . Example of such expenses are bonuses for the employees . These are such expenses on which management has full control ,as it not an obligation for a company to incurred such expenses.

6 0
4 years ago
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