(Solution Download) 1 How might a poor set of recording procedures affect


1. How might a poor set of recording procedures affect the flow of information to management?
2. Why should management be concerned about the efficiency of a firm's procedures for journalizing and posting transactions?
3. Why should management insist that a firm's accounting system have a strong audit trail?
4. The owner of a new business recently questioned the accountant about the value of having both a journal and a ledger. The owner believes that it is a waste of effort to enter data about transactions in two different records. How would you explain the value of having both records?

 







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