Unit 10 K & U questions

funnyclaire

Can anyone please suggest any ideas on how to answer the following knowledge and understanding supplementary questions for unit 10?

1. How are the accounting systems influenced by the organisation of the company?

2. What is the purpose of the accounting function and what relationship does it have with other departments?

3. Who controls the supply of information?

4. Who controls the supply of people?

My mind has just gone blank!

Thanks in advance.

(BTW my workplace is a firm of Chartered Accountants).

sdv

1 in a large company you may be reqiued to have different accounting function departments. Those accounting departments may also be segregated,though not necessary but certainly most of the top 100 ftse company will have sales ledger in one part of the country, purchase ledger in onother part and general ledger somewhre else. in this way no manger will have a full picture of the company's financial position except for the chosen few (ceo)

2 surely you know the purposes of 1- sales ledger, 2 purchase ledger, 3 payroll, 4 general ledger, 5 costing dept etc

2a- what relationship does the payroll department have with other accounting departments. or purchase ledger and sales ledger or sales ledger and costing, or general ledger and the financial accountant

3 who would the bank manger contact if he/she requires information to help process the loan application.

4 if you are a sales ledger clerk and you are asked to chase all the customers to get as much cash into the as possible and at the same time this is a busy period for the company sales and all the slales invoices need to be produced and delivered with the delivery notes. What would you do and whom would you approch to resolve this problem.- controller of the company's resources