This Question Has Two Parts; Be Sure to Answer Both

question 33

Essay

This question has two parts; be sure to answer both.
First, give examples of two forces outside an organization and two forces inside that would be likely indicators of a need for change.
Next, imagine that you run a small downtown store, Games R Us, that specializes in selling board games from around the world. Explain how each of the forces you identified might affect your business.

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Definitions:

Accounting Information Processing Cycle

The series of steps followed in the accounting process to record, classify, summarize, and report a business's financial transactions.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial statement.

Earnings Per Share

A financial metric that measures the net income earned per share of a company's outstanding stock.

Adjusting Entries

Journal entries made in accounting to update the records for expenses and revenues that have been incurred but not previously recorded.