Ridgley, Cooper, and Ross (RCR)
Katie is the CEO of Ridgley, Cooper, and Ross (RCR), a regional accounting firm. RCR 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, RCR could be considered a violator of the Sarbanes-Oxley Act. Katie 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 Ridgley, Cooper, and Ross. In order to be successful in the accounting industry, RCR employees must
A) know all areas of accounting and marketing.
B) have complete human resources training.
C) be able to communicate in multiple languages.
D) know how to do accounting the old fashioned way―using the manual, double-entry system.
E) have a strong background in financial management.

Question

Quizplus · Accepted Answer

To be successful in the accounting industry, employees must have a strong background in financial management as it is a fundamental aspect of accounting. Knowing all areas of accounting and marketing, having complete human resources training or being able to communicate in multiple languages may be helpful in some situations, but they are not essential for success in the accounting industry. Knowing how to do accounting the old fashioned way using the manual, double-entry system may be informative, but it is not necessary or practical in today's technological environment.