Describe the Structural and Managerial Changes and Challenges Experienced by a Firm

question 18

Essay

Describe the structural and managerial changes and challenges experienced by a firm as it moves its operations from domestic to global (globalization process).

---

Definitions:

Equity Accounts

Accounts that represent the owner's interest in the company, including capital stock, retained earnings, and sometimes dividends.

Accounting Process

The systematic approach to recording, classifying, summarizing, and reporting a business's financial transactions.

Journal Entry

A record in accounting that notes the details of a financial transaction, showing which accounts are affected and by what amounts.

Ledger

A book or database in which financial transactions are recorded systematically.