Which of the following individuals should possess the greatest knowledge of GAAP?
A)general ledger accounting department manager
B)budgeting department manager
C)financial reporting officer
D)managerial reporting officer

Question

Quizplus · Accepted Answer

The financial reporting officer is responsible for ensuring that the company's financial statements are prepared in accordance with GAAP. They should have the greatest knowledge of GAAP among the individuals listed. The general ledger accounting department manager may have knowledge of GAAP, but their primary focus is on maintaining accurate records of financial transactions. The budgeting department manager and managerial reporting officer may have some knowledge of GAAP, but their primary focus is on budgeting and internal management reporting, respectively, rather than external financial reporting in accordance with GAAP.

Which of the Following Individuals Should Possess the Greatest Knowledge