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    Congratulations! You have been hired by Claire's Antiques as its new accountant. Since Claire's Antiques is a small company, you will responsible for all of its accounting functions related to financial and managerial accounting.

    You are explaining your new role to your friend. After explaining what you do, she expressed surprise about your role. She thought accountants did taxes and just 'did the books' after the real business of the company was over.

    Explain to your friend why accounting is a much broader role and the type of positions available to accountants. Use the Library and the internet as necessary to explain to her the positions and responsibilities of managerial accountants.

    Objective: Use effective communication techniques.
    Discuss the role of performance measures in an organization.
    Describe the functions of managerial accounting and the external uses of accounting.

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    Solution Preview

    The response addresses the queries posted in 449 words with references.

    // Before performing the role of an Accountant in an Organization; it is necessary to be well versed with the concepts of 'Managerial Accounting'. Therefore, accounting is a broader concept. To provide an insight into it, I am providing the Introduction and Role of Accounting.//


    Accounting is a broader service activity that helps in the managerial decision making process by providing the financial information of the company. The accounting process also provides economic information to the society that helps to make appropriate economic decisions. It is the effective business language that helps to understand the financial position of a company. The accounting is used by both the internal and external users in their decision making process. It also helps to monitor the business performance (Decision Making and the Role of Accounting).

    Role of Accounting

    Accounting has a broader role that identifies the records, evaluates and communicates the economic ...

    Solution Summary

    The response addresses the queries posted in 449 words with references.