The Role of Accounting on Business and Our Society
Write a two to three (2-3) page paper in which you:
1. Describe the purpose of each financial statement.
Determine which one (1) is the most effective in communicating the financial
health of an organization. Defend your position.
2. Compare the major functions of an accountant to that of a
certified public accountant. Make an argument for and against the importance of
accounting and accountants in our society from a U.S. or global perspective.
3. Imagine that you have decided to create your own business
venture. Determine whether the company will be a service or merchandising
company. Describe the differences between the charts of accounts for both
companies.
4. Based on the company that you selected in 3, make an
argument for automating the accounting process, and implement at least three
(3) types of internal controls to prevent or detect theft or fraud.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all
sides; citations and references must follow APA or
school-specific format. Check with your
professor for any additional instructions.
• Include a cover page containing the title of the
assignment, the student’s name, the professor’s name, the course title, and the
date. The cover page and the reference page are not included in the required
assignment page length.
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