Paper instructions: Accounting increases a student?s preparedness tounderstand complex business concepts and therationale managers use to make financing decisions. Itis a business discipline that allows companies toanalyze, record, and retrieve critical financialinformation that can be used to determine a company?sfinancial status, and provide reports and insights thatare needed to make sound financial decisions. Write a two to three (2-3) page paper in which you: 1. Describe the purpose of each financialstatement. Determine which one (1) is the mosteffective in communicating the financial health of anorganization. Defend your position. 2. Compare the major functions of an accountantto that of a certified public accountant. Make anargument for and against the importance of accountingand accountants in our society from a U.S. or globalperspective. 3. Imagine that you have decided to create yourown business venture. Determine whether the companywill be a service or merchandising company. Describethe differences between the charts of accounts for bothcompanies. 4. Based on the company that you selected in 3,make an argument for automating the accountingprocess, and implement at least three (3) types ofinternal controls to prevent or detect theft or fraud. Your assignment must follow these formattingrequirements: ? Be typed, double spaced, using Times NewRoman font (size 12), with one-inch margins on allsides; citations and references must follow APA orschool-specific format. Check with your professor forany additional instructions. ? Include a cover page containing the title of theassignment, the student?s name, the professor?s name,the course title, and the date. The cover page and thereference page are not included in the requiredassignment page length. The specific course learning outcomes associatedwith this assignment are: ? Identify and explain the fundamental conceptsand principles in accounting, the components of theaccounting equation, the primary financial accountingequation, and financial statements and reports. ? Use technology and information resources toresearch issues in financial accounting. ? Write clearly and concisely about financialaccounting using proper writing mechanics.
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