Responsibility accounting/reporting model

1.What are the primary functions the GL/BR process performs?

2.What, in your own words, does BR entail?

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3.What are the fundamental responsibilities of each of the following positions or departments: BR department, budgeting department, financial reporting officer, managerial reporting officer?

4.What, in your own words, are a performance report and the responsibility accounting/reporting model?

1. With the convergence of U.S. GAAP and IFRS standards moving forward, there is the possibility of the elimination of the LIFO inventory valuation method. If this happens, what will be the impact on manufacturing operations?

2.Compare and contrast a part created using a computer numerical control (CNC) machine and a 3D printer. Make sure to include the differences related to accounting.

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