Mohammed was recently interviewed for an accounting job. His employer told him that the job emphasizes timeliness and relevance and involves preparing detailed segment reports. Mohammed is probably going to work as: О а. A Human resource manager O b. A Financial accountant O c. None of the given answers O d. AMarketing specialist e. A Management accountant
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- Assume you have been hired by Cabelas Sporting Goods. As part of your new role in the accounting department, you have been tasked to set up a responsibility accounting structure for the company. As your first task, your supervisor has asked you to give an example of a cost center, profit center, and an investment center within the Cabelas organization. Your supervisor is a little unsure of the difference between a profit center and investment center and would like you to explain the difference.Mohammed was recently interviewed for an accounting job . His employer told him that the job emphasizes objectivity and verifiability and involves preparing reports to be primarily used by external users. Mohammed is probably going to work as: a. A Financial accountant b. A Human resource manager. c. Management accountant d. None of the given answers e. A Marketing specialistSuppose you are a part of a group of students from a prominent university and were sent out as a team to work with a leading merchandizing company as a part of a work experience program. The team having been introduced to the general manger was told that the Accountant who normally prepares the financial statements has suddenly resigned and there is no one available to prepare the company’s financial statements which are now due. As aspiring university students, you have expressed an interest in taking on the task. You are required to analyse the problem at hand then apply the accrual basis of accounting in the preparation of the company’s financial statements.
- Jan Harry, a mechanical engineer, was informed that she would be promoted to assistant factory manager. Jan was pleased but uncomfortable. In particular, she knew little about accounting. She had taken one course in "Financial" accounting. Jan planned to enroll in a management accounting course as soon as possible. Meanwhile, she asked you, as company's cost accountant, to state four of the principal distinctions between financial and management accounting. Prepare your response to Jan Harry.Ali's accounting work normally has more focus on past performance, has be precise and involves preparing companywide reports. Ali is most likely to be a: Select one: O a. A managerial accountant O b. A marketing manager O C. A cost accountant O d. A human resource manager O e. A financial accountantAssume you are a newly appointed accountant in a local fashion Company named Al Rahim clothing Company based in Oman. Currently, the Company has five different departments include Accounting and Finance, Marketing, Human Resources, Information Technology and Sales & Distribution. Managers in each department are given the authority regarding operational decisions, and their performance is measured on the Company’s profit, and all the other employees receive the fixed salary package. You have been asked to answer the following tasks in preparation for the assignment that you will perform internally for the Company. II. Discussion : a. As an accountant of the Al Rahim clothing Company, prepare a report of the Income Statement and Balance Sheet. b. Discuss the differences between the Straight Line Method of Depreciation and Diminishing Balance Method of Depreciation. Give examples.
- Assume you are a newly appointed accountant in a local fashion Company named Al Rahim clothing Company based in Oman. Currently, the Company has five different departments include Accounting and Finance, Marketing, Human Resources, Information Technology and Sales & Distribution. Managers in each department are given the authority regarding operational decisions, and their performance is measured on the Company’s profit, and all the other employees receive the fixed salary package. You have been asked to answer the following tasks in preparation for the assignment that you will perform internally for the Company. a. Explain the meaning of Accounting Standards and discuss its main objectives. b. Discuss the difference between Financial Accounting and Management Accounting. c. Discuss the differences between the Straight Line Method of Depreciation and Diminishing Balance Method of Depreciation. Give examples.Assume you are a newly appointed accountant in a local fashion Company named Al Rahim clothing Company based in Oman. Currently, the Company has five different departments include Accounting and Finance, Marketing, Human Resources, Information Technology and Sales & Distribution. Managers in each department are given the authority regarding operational decisions, and their performance is measured on the Company’s profit, and all the other employees receive the fixed salary package. You have been asked to answer the following tasks in preparation for the assignment that you will perform internally for the Company. II. Discussion : a. Discuss the accounting conventions and concepts relating to matching and dual aspect principle. b. Explain the objectives of preparing a comprehensive income statement and statement of financial position represent Al Rahim clothing Company. c. Briefly discuss what is contained in the Income Statement and Balance Sheet of Al Rahim clothing Company.…Assume you are a newly appointed accountant in a local fashion Company named Al Rahim clothing Company based in Oman. Currently, the Company has five different departments include Accounting and Finance, Marketing, Human Resources, Information Technology and Sales & Distribution. Managers in each department are given the authority regarding operational decisions, and their performance is measured on the Company’s profit, and all the other employees receive the fixed salary package. You have been asked to answer the following tasks in preparation for the assignment that you will perform internally for the Company. II. Discussion : a. Discuss the accounting conventions and concepts relating to matching and dual aspect principle. b. Explain the objectives of preparing a comprehensive income statement and statement of financial position represent Al Rahim clothing Company. c. Briefly discuss what is contained in the Income Statement and Balance Sheet of Al Rahim clothing Company.…
- Please assist with addressing the two topics below. Describe at least two potential positions related to managerial accounting that you personally found to be interesting and explain why they were noteworthy to you. Include a link to the job posting or job description. Compare these positions and job descriptions to those that require a background in financial accounting. Are they similar or different? Thank you!Patrick Financial Services, an accounting firm, specialises in providing accounting and taxation work for dentists and doctors. You have been provided with financial information relating to the firm in appendix 1. In appendix 2, you have been provided with non-financial information which is based on the balanced scorecard format. Notes Error rates measure the number of jobs with mistakes made by staff as a proportion of clients serviced. Core work is defined as being accountancy and taxation. On-core work is defined primarily as pension advice and business consultancy. On-core work is traditionally high margin work. Required: Using the information in appendix 1 only, comment on the financial performance of the business (briefly consider growth, profitability and credit management) Explain why non-financial information, such as the type shown in appendix 2, is likely to give a better indication of the likely future success of the business than the financial information…Assume that you are preparing for a second interview with a manufacturing company. The company is impressed with your credentials, but it has several qualified applicants. You anticipate that in this second interview, you must show what you offer over other candidates. You learn the company is not satisfied with the timeliness of its information and its inventory management. The company manufactures custom-order holiday decorations and display items. To show your abilities, you plan to recommend that the company use a job order accounting system. Required In preparation for the interview, prepare notes outlining the following: 1. Your recommendation and why it is suitable for this company. 2. A general description of the documents that the proposed system requires. 3. How the documents in part 2 facilitate the operation of the job order accounting system.