Maddie is the CEO of Stevenson,Ross,and Warner (SRW) ,a regional accounting firm.SRW offers services in most areas of accounting,including auditing and consulting services.The firm must follow the GAAP rules,just like any other accounting firm.If there are information gaps that are not addressed and resolved by the firm,SRW could be considered a violator of the Sarbanes-Oxley Act.Maddie understands what must be done and wants every employee of the firm to understand that they have to follow all the rules and regulations.Like any other industry,accounting is a competitive industry and employees of accounting firms must be productive,progressive,and well trained.
-Refer to Stevenson,Ross,and Warner.One of SRW's clients is ABC Electronics.SRW develops ABC Electronics' statements and reports for ABC's stockholders,financial analysts,and bankers.These services can be classified as which of the following?
A) Non-accounting services
B) Tax accounting
C) Financial accounting
D) Managerial accounting
E) Cost accounting

Question

Quizplus · Accepted Answer

The services provided by SRW for ABC Electronics can be classified as financial accounting, as they involve the preparation of financial statements and reports for the company's stakeholders. Non-accounting services would refer to services that are not related to accounting, such as IT consulting or marketing. Tax accounting, managerial accounting, and cost accounting all relate to specific areas of accounting, but do not encompass the services described in the scenario.

Maddie Is the CEO of Stevenson,Ross,and Warner (SRW) ,A Regional