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Chapter 15- Accounting 1- Which type of accountant could be involved in litigation support and what does it mean? 2- What is the purpose of auditing and why it necessary? 3- If you were assessing the value of a business which two factors would you take into account and in which financial statement would you find them? 4- Use the accounting equation to determine the net worth of a company with assets of $36.6 million and liabilities of $28.2 million. What does the net worth suggest to potential investors? 5- Interview an accountant at a local business, nonprofit organization, or government entity. How does the firm use budgets? How does budgeting help managers plan business activities? How does budgeting help them control activities? Give examples 6- Discuss the role of a private accountant within large and small firms. 7- Every organization relies on accounting information and financial statements in order to gauge business activity over periods of time. Who uses accounting information and for what purpose do they use it? 8- For what types of organizations do forensic accountants work? 9- Identify the potential users of accounting information 10-Explain fixed assets and how accountants spread the cost of an asset over the years of its useful life

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