SlideShare a Scribd company logo
400–500 words including a chart (APA Format)
Knowing that the company's former CFO and CEO not only got
in trouble for fiduciary responsibility violations but IRS issues
as well, you plan to write a report with your senior accountants
to go over the main differences between the roles of financial
accounting, cost accounting, and tax accounting as some of the
prior accounting department misdeeds seemed to come from not
keeping these separate.
In chart form, distinguish between these 3 segments of the
accounting function, each of them along these 4 criteria:
The legal or regulatory bodies and guidelines that must be
abided by.
Typical kinds of reports created and the stakeholders interested
in each report.
Issues that, if not addressed properly, could land the company
in trouble again.
The particular kinds of training/education that employees in
each of these departments should have.
In paragraph form, explain why it is important to understand the
different needs of the different stakeholder groups for each
functional area.

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