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Questions and Answers
What are some of the advanced finance functions that accounting provides training in?
What are some of the advanced finance functions that accounting provides training in?
- Marketing analysis and budgeting
- Product development and innovation
- Human resources management and recruitment
- Transactions and cost analysis (correct)
Why might new recruits want to get into accounting?
Why might new recruits want to get into accounting?
- To focus solely on compliance and taxation
- To avoid responsibility
- To avoid interacting with clients
- To gain necessary training and experience (correct)
What is one reason accounting is a better training area for higher-level managers?
What is one reason accounting is a better training area for higher-level managers?
- It involves less responsibility than other areas of business
- It provides training in areas such as financial management and customer support (correct)
- It offers a narrower scope of responsibility
- It does not involve interaction with clients or decision making
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Study Notes
- Accounting department likely to become a common route to top management positions
- Accounting provides training in transactions, cost analysis, and advanced finance functions
- Well-trained people will advance out of accounting
- New recruits will clamor to get into accounting for necessary training and experience
- Senior management personnel may come out of accounting
- Accountants are increasingly involved in direct interaction with clients, decision making, and strategy-making
- Accountancy involves key areas of business forecasting, taxation, compliance, financial management, and customer support
- Accounting handles multitude of additional tasks
- Accounting is a better training area for higher-level managers
- Accounting offers greater breadth of responsibility.
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