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Many accounting and accounting-related professionals are skilled in financial analysis, but most are not skilled in...

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Accounting

Many accounting and accounting-related professionals are skilledin financial analysis, but most are not skilled in manufacturing.This is especially the case for process manufacturing environments(for example, a bottling plant or chemical factory). To provideprofessional accounting and financial ¬services, one mustunderstand the industry, product, and processes. We have an ethicalresponsibility to develop this understanding before offeringservices to clients in these areas.

Required: Write a one-page action plan, in memorandum format,discussing how you would obtain an understanding of key businessprocesses of a company that hires you to provide financialservices. The memorandum should specify an industry, a product, andone selected process and should draw on at least one reference,such as a professional journal or industry magazine.

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