Why Companies Create Accounting Systems Discussion

GENERAL GUIDELINES 1. The writing assignment should be approximately 3 pages in length (double-spaced), 12 point-fonts. The bibliography does not count for the three pages. 2. You may use any books or notes to do the writing assignment. You may have to look at a chapter that we have not covered yet to get all of your answers. Include your sources in proper format in your paper; you may use APA or MLA. If you quote someone else’s work, make sure that you give them credit.

THE ASSIGNMENT You are a consultant who hired to make recommendations on an accounting system for a new business. The business owner knows NOTHING about accounting. Write the beginning section of a recommendation on the new accounting system. In this opening section, discuss 1. The reasons companies create and maintain accounting systems 2. The basic structure of assets, liabilities, and stockholders’ equity including definitions and relationships 3. The four basic financial statements 4. The effects of revenues, expenses, and dividends on the financial statements 5. The difference between net income and cash flow including the way each is shown on the financial statements (You know that the owner is already confused about this.) 6. The paper must have a closing statement that summarizes and brings your paper to a conclusion. 7. Cite all resources in proper format (APA or MLA). 8. Plagiarism content should be 10% or less. Turnitin is embedded in iCollege. After you submit your document review your submission to check your plagiarism content. You can resubmit until you reach the 10% threshold.

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