Several Actions That an Organization May Take Are Not Recognized

question 21

Essay

Several actions that an organization may take are not recognized or entered in the accounting records.While not entered into the formal accounting system, several such actions are exceedingly important to the organization.
Required:
Comment on the current and future implications that the hiring of a new president may have on the organization's accounting records.

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Definitions:

Lamella

Thin layers or plates, such as those found in bone, making up the concentric rings in the structure of compact bone.

Canaliculus

Small, channel-like structures in bone and dental tissue, facilitating nutrients and waste exchange between blood vessels and osteocytes.

Lacuna

A small cavity or space within tissue, especially in bone or cartilage, where cells reside.

Circumferential

Pertaining to or measuring the perimeter of a circle or other rounded object.