The four broad areas of accounting are financial accounting, managerial accounting, taxation and other accounting related employment. The majority of the employment opportunities are in private accounting where employees work for businesses. Private sector jobs would include general accounting, taxation, budgeting, and cost accounting activities. Public accounting offers opportunities to perform work such as auditing, tax services, and consulting.
What will be an ideal response?
The purpose of accounting is to provide useful information for decision makers. For
information to be useful, it must be trusted. This requires ethical behavior by accountants and
managers in all phases of gathering, analyzing and reporting financial information so that good
decisions are made.
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_________________________ concerns a firm's ability to make interest and principal payments on borrowings as they become due
Fill in the blank(s) with correct word
The Sarbanes-Oxley Act has all but which of the following provisions?
a. Creating a five-person Accounting Oversight Board with authority to review and discipline auditors. b. Creating severe civil and criminal penalties for enterprises that engage in the commission of two or more predicate acts within a period of ten years. c. Increasing the penalties for existing federal crimes and creating new criminal offenses. d. Adding new financial disclosure requirements.
How can practitioners avoid the problem of slipping from facts to inferences in the data interpretation phase?
What will be an ideal response?
Digital marketing can be viewed as a new distribution channel that helps businesses increase efficiency.
Answer the following statement true (T) or false (F)