Asked by Madison Bradford on Jul 06, 2024
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Accounting and finance each have significant responsibilities related to the firm's financial performance; however, the accountant's role is informational, while the financial analyst's role is critical and investigative. Therefore, we can say that:
A) the accountant's job stops at the presentation of information.
B) the analyst must rely on the accountant to assist in analyzing the financial statements because the accountant is more familiar with their content.
C) the financial analyst assesses the information presented in the accountant's financial statements to seek out problems and their ramifications for the firm.
D) financial analysts qualified to practice as CPAs may undertake both responsibilities and eliminate any overlap of similar tasks.
Financial Analyst's Role
A professional position responsible for analyzing financial data, market trends, and investment opportunities to advise businesses and individuals on financial decisions.
Accountant's Role
Responsibilities include preparing financial records, ensuring their accuracy, and providing insights based on financial information to help in strategic decision-making.
Financial Statements
Documents that provide an overview of a company's financial performance and condition, including balance sheet, income statement, and cash flow statement.
- Understand the distinct roles and responsibilities of accountants and financial analysts within a firm.
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Learning Objectives
- Understand the distinct roles and responsibilities of accountants and financial analysts within a firm.
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