Asked by Willow Stevens on May 09, 2024
Verified
Which entity is most directly responsible for the accounting within the firm?
A) Treasurer
B) Controller
C) CFO
D) CEO
Accounting
The methodical documentation, communication, and examination of a company's financial dealings.
Controller
A senior executive responsible for overseeing the accounting operations and financial reporting of an organization.
Firm
A business organization or entity engaged in commercial, industrial, or professional activities.
- Determine the roles and duties of the corporate finance department.
Verified Answer
MB
Manuel Baylon-PadillaMay 12, 2024
Final Answer :
B
Explanation :
The controller is the head of the accounting department and is responsible for overseeing and managing all accounting activities within the firm. The treasurer is primarily responsible for managing the firm's finances, including cash management and investment activities. The CFO is responsible for overseeing the entire finance function of the firm, which includes accounting, but also includes financial planning, analysis, and decision-making. The CEO is ultimately responsible for the overall performance of the firm, but typically delegates the direct responsibility for accounting to the controller.
Learning Objectives
- Determine the roles and duties of the corporate finance department.