Instructions: Write a 200- to 300-word response to the following: You have been hired into a new company to oversee the accounting department. What type of financial reports would you expect to see in your department? How will you use the financial reports available to you to make business decisions?__________________________________________________________The type of reports that I would expect to see is the income statements, balance sheets as well as the profits and losses reports. The other things that I would also expect to see is the accounts payable and the financial reports.
The way that I would use these reports is to analyze consumer buying trends as well as the commitments that have incurred so that way I can see what the future prospects may be. I would also use these reports to inspect the operations and the finances of the company and report any changes or unauthorized charges to the proper chain of command.
The best thing to use these reports for is to help manage the success of the business which would be done by increasing the profits and helping keep the inventory low and making changes where needed.
Some of the other things that these reports can be used for is the monitoring of all of the activity of the business both current and the past. And comparing it to the future plans and goals of the company. This would give the information needed to keep the companyÃÂÃÂs performance on track and heading in the right direction if they were not heading in the right direction, then I would make the necessary changes to get it heading in the right direction. I would then use all of the financial reports to ensure that the records show both current and past numbers and compare it to all of the...