Accounting and Control The Controller of a Small Private College Is Complaining About

question 1

Essay

Accounting and Control
The controller of a small private college is complaining about the amount of work she is required to do at the beginning of each month.The president of the university requires the controller to submit a monthly report by the fifth day of the following month.The monthly report contains pages of financial data from operations.The controller was heard saying,"Why does the president need all this information? He probably doesn't read half of the report.He's an old English professor and probably doesn't know the difference between a cost and a revenue."
Required:
a.What is the probable role of the monthly report?
b.What is the controller's responsibility with respect to a president who doesn't know much accounting?

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Definitions:

Individualistic Society

An individualistic society emphasizes personal independence and the self over social cohesion and collective well-being.

Ghana

A country located along the Gulf of Guinea and Atlantic Ocean, in West Africa.

Behavioral/Social Learning

Behavioral/social learning theory posits that behaviors are learned through observing and imitating others, as well as through environmental reinforcements and punishments.

Environmental Determinants

Factors within one's surroundings that significantly impact an individual's development, behavior, and wellbeing.