Accounting and finance each have significant responsibilities related to the firm's financial performance; however, the accountant's role is informational, while the financial analyst's role is critical and investigative. Therefore, we can say that:
A) the accountant's job stops at the presentation of information.
B) the analyst must rely on the accountant to assist in analyzing the financial statements because the accountant is more familiar with their content.
C) the financial analyst assesses the information presented in the accountant's financial statements to seek out problems and their ramifications for the firm.
D) financial analysts qualified to practice as CPAs may undertake both responsibilities and eliminate any overlap of similar tasks.
Correct Answer:
Verified
Q2: The principal function of financial statements is
Q3: The principal function of financial statements is
Q4: Which of the following would be classified
Q5: Which of the following activities will not
Q6: The difference between current assets and liabilities
Q7: Changes to net working capital are categorized
Q8: Which of the following activities will impact
Q9: Cash flow from operating activities is increased
Q10: Free cash flow:
A)includes investing cash flows as
Q11: Annual reports are in a sense, evaluations
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