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How does the time value of money have an effect on the role of an accountant? What are the key items that an accountant must understand around present and future value concepts, annuities, and compound interest?288). The time value of money is simply the relationship between time and money, whereas a “dollar received today is worth more than a dollar promised at some time in the future” (Kieso, D., Weygandt, J., & Warfield, T., 2013, p.289). As an accountant, responsibility is placed on them to