You Have Recently Been Appointed as Head of the Nine-Person

question 178

Essay

You have recently been appointed as head of the nine-person accounting department in a large oil company.The accounting offices are located on the 6^th and 3^rd floors of head office.The three accounting employees on the 3^rd floor use extra office space in the purchasing department.Two accounting employees were hired a few months before you took over the unit;one was offered a job at the time she submitted her application form (i.e.hired without an interview or careful review).The employees possess the skills and resources (e.g.new computer systems)to perform effectively if they work together as a team.However,you sense that this department lacks the necessary esprit de corps that would help it achieve the highest performance.Describe four distinct strategies you would use to build the accounting department into a more cohesive unit and explain how these strategies would increase cohesiveness.

Differentiate between cash basis and accrual basis accounting methods.

Recognize the differences between voiding and deleting transactions in QuickBooks for correcting errors.

Understand the adjustments for specific items like office supplies and their impact on financial statements.

Distinguish between depreciation methods on tax returns vs. financial statements.

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Definitions:

Infratentorial

Refers to the region of the brain below the tentorium cerebelli, including the brainstem and cerebellum.

Bradycardia

A slower than usual heart rate, typically defined as fewer than 60 beats per minute in adults.

Confidential

Information kept secret or private, often within the context of a professional relationship or legal agreement.

Home Health Nurse

A registered nurse who provides direct care, including treatments and medications, in a patient's home, often for those recovering from illness or surgery.