Many accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in...
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Many accounting and accounting-related professionals are skilledin financial analysis, but most are not skilled in manufacturing.This is especially the case for process manufacturing environments(for example, a bottling plant or chemical factory). To provideprofessional accounting and financial services, one must understandthe industry, product, and processes. We have an ethicalresponsibility to develop this understanding before offeringservices to clients in these areas.
Question:
- How you would obtain an understanding of key business processesof a company that hires you to provide financial services. Pleasespecify an industry, a product, and one selected process and drawon at least one reference, such as a professional journal orindustry magazine.
Many accounting and accounting-related professionals are skilledin financial analysis, but most are not skilled in manufacturing.This is especially the case for process manufacturing environments(for example, a bottling plant or chemical factory). To provideprofessional accounting and financial services, one must understandthe industry, product, and processes. We have an ethicalresponsibility to develop this understanding before offeringservices to clients in these areas.
Question:
- How you would obtain an understanding of key business processesof a company that hires you to provide financial services. Pleasespecify an industry, a product, and one selected process and drawon at least one reference, such as a professional journal orindustry magazine.
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