Questions
Select a company that you can visit in person or interview over the telephone. Conduct an interview with company's accountant or account officer or any other relevant personnal in the company, who helps to prepare the annual financial statements. Based on the interview and your readings, you are required to prepare a detailed write-up which includes the solution for the following questions of the company's accounting cycle:
1.Does it prepare interim financial statements? What time is used for interim statements?
2. Does the company use the cash or accrual basis of accounting?
3. Does the company use a worksheet in preparing financial statements? Why or why not?
4. Does the company use a spreadsheet program? If so, which software program is used?
5. How long does it take after the end of its reporting period to complete annual statements?