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ACCT 151 Harrisburg Area Community College Peyton Approved Data Questions Paper

ACCT 151 Harrisburg Area Community College Peyton Approved Data Questions Paper

Question Description

  • Provide an overview of the company’s accounting system. What basis of accounting is used? Why?
  • What strategies is the business using to ensure responsible accounting practices? Why have these strategies been selected?
  • Describe the steps in the accounting cycle.
  • Define internal controls and discuss 1-2 controls and how they are relevant to the Peyton company
  • Analyze the results of operations based on the financial statements. What do these results tell a business? e) What do the statements themselves tell about the strengths and weaknesses of the company’s financial position?
  • Discuss the changes in operations that might need to be made to make the company more profitable. Justify why each change may be necessary.
  • What are the company’s financial strengths and weaknesses? What specific changes can be made to alleviate the weaknesses?
  • What opportunities can the company explore because of its strengths? How would these be beneficial?

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