Imagine this scenario. You are an accounting manager at ABC Corp, a nonpublic company that prepares...
Imagine this scenario. You are an accounting manager at ABC Corp, a nonpublic company that prepares GAAP financial statements in order to receive financing from banks. The operations team at ABC is moving forward quickly on a deal to invest in a key supplier, but has not yet informed the accounting team of this possible deal.
Make your best case: List two reasons why the operations team should involve the accounting department in reviewing the deal before it is executed.
Homework Answers
Reasons why operations team should involve accounting department are as follows:
1. True and Fair disclosure and maintenance of Financial statement.
2. For Financial Control and make sure all financial process follow legal guidelines and internal control of the organization.
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What are the five major components of “CEMEX
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