1. Interview an accountant at a local business, nonprofit organization, or government entity. How does the firm use budgets? How does budgeting help managers plan business activities? How does budgeting help them control activities? Give examples.

2. Discuss the role of a private accountant within large and small firms.

3. What two sources of capital make up owners' equity?

4. What is the accounting equation?

5. What is the statement of cash flow required by the SEC and why is it required?

6. If you were assessing the value of a business which two factors would you take into account and in which financial statement would you find them?

Answer rating: 100% (QA)

1 It enables the business owner to concentrate on cash flow reducing costs improving profits and increasing returns on investment Budgeting is the basis for all business success It helps with both pla... View the full answer