Review the following individual accounting system components that contain the skills and capabilities of individuals in Chart A and review the accounting system components that contain the skills and capabilities of individuals in Chart B.
Accounting Systems: Skills and Capabilities Chart A
•Analytical skills
•Verbal and written communication skills
•Accounting and business knowledge
•Teamwork abilities
Accounting Systems: Skills and Capabilities Chart B
•Producing annual and quarterly statements
•Statements prepared in accordance to GAAP
•Statements useful to external users
•Annual financial statements audited by an independent CPA
Which of the following describes the individual required to perform the accounting system skills and capabilities in Chart A and which individual is the responsible individual required to perform the skills and capabilities in Chart B?
A) Chart A: Controller; Chart B: Treasurer
B) Chart A: Audit Committee; Chart B: Cross Functional Teams
C) Chart A: Managerial Accountant; Chart B: Financial Accountant
D) Chart A: Independent Auditor; Chart B: Internal Audit Function
E) Chart A: Cross Functional Teams; Chart B: Treasurer
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