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Unformatted text preview: you decrease bad debit the less you will have as a backup for when needed. I believe that it is both a science and an art. It is an art because they do have to be so good and exact at what they do and a science because if they are doing their job exactly then they will be able to determine how well a company has done for that period. If the accountant was to make a wrong estimate where they would need to be specific it could cause all kinds of problems. Some could be statements wrong, misreported information, trouble with the IRS, SEC, ector company falling in financial difficulty. In any circumstance the accountant needs to make sure to make precise decisions and be on top of everything that is going on in their company....
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This note was uploaded on 05/29/2011 for the course EC 2011 taught by Professor Johnson during the Spring '11 term at FIT.
- Spring '11