What position is typically responsible for financial accounting, managerial accounting, and tax reporting?
A)Controller
B)Treasurer
C)CFO
D)Audit committee

Question

Quizplus · Accepted Answer

The position of a controller is typically responsible for financial accounting and managerial accounting, including the preparation of financial statements and management reports. Additionally, controllers are also responsible for overseeing tax reporting and compliance with applicable laws and regulations. While the CFO may have oversight over the controller, the controller generally has more direct responsibility for these accounting functions. The treasurer is primarily responsible for managing the company’s cash, investments, and liquidity, and may work closely with the controller on cash management and forecasting, but is not typically involved in accounting or tax reporting. The audit committee is a group of independent directors who oversee the company’s financial reporting and internal controls, but do not typically have direct responsibility for financial accounting, managerial accounting, or tax reporting.

What Position Is Typically Responsible for Financial Accounting, Managerial Accounting