Discuss the accountant's involvement in systems selection including: 1 . As an analyst 2 . As consultant 3 . As a user 4 . As an internal auditor
An accountant might become involved in systems selection in a number of ways. As an analyst, the accountant could be the evaluation team member with the most expertise in internal control and possess expertise in computer applications for the AIS. As a consultant, the accountant might be called on to provide such expertise, as well as objectivity. The accountant has a great deal of knowledge in making software and hardware selections for the AIS. As a user of the system, the accountant could provide guidance on the tax and financial implications of alternative financing methods. The accountant might also be called upon to comment on the adequacy of the proposed resource choices. The accountant as an internal auditor could be a member of the evaluation team regarding auditability and controllability of the system. Also, as an internal auditor, the accountant could be responsible for reviewing and reporting on the efficiency and effectiveness of the system.
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At the beginning of 2019, Statewide Delivery Company has the following account balances:
Accounts Receivable $44,000 (debit balance) Allowance for Bad Debts $8000 (credit balance) Bad Debts Expense $0 During the year, credit sales amounted to $800,000. Cash collected on credit sales amounted to $780,000, and $16,000 has been written off. At the end of the year, the company adjusted for bad debts expense using the percent-of-sales method and applied a rate, based on past history, of 3.5%. The ending balance of Accounts Receivable is ________. A) $44,000 B) $48,000 C) $56,840 D) $16,000
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A. ?Privatization B. ?Diversification C. ?Demutualization D. ?Consolidation E. ?Flotation
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What will be an ideal response?
An accumulation of complaints from employees, customers, or investors can lead to imposition of restrictive new regulations and laws
Indicate whether the statement is true or false