THE ACCOUNTING DEPARTMENT
Answer the following, include references
1. Explain the responsibility of the accounting department.
2. What is one advantage of having 2 costs pools (one for fixed costs and one for variable costs) for each service department?
These links can be used to gather information as well
https://www.investopedia.com/
https://www.economist.com/
Answer preview
- Explain the responsibility of the accounting department
The accounting department in any organization is responsible for the finances of the company. It deals with the cash flow that comes to a company, that is, recording the amount paid for goods and giving invoices to the customer after they have paid for a certain good. They also deal with the cash disbursements, where they give money to suppliers, and then they receive invoices from them. They also work with the HR department to ensure that the employees are paid in good time. The department…
(350 words)