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Answered) 1. You outlined some specific examples of the accountant's role in the planning process - how does the accountant relate the activities described in


1. You outlined some specific examples of the accountant’s role in the planning process - how does the accountant relate the activities described in your response with their primary responsibilities which is to provide information which is useful, relevant, reliable and consistent? What specific actions would you suggest in the situations cited in your reply to the DQ - especially the contingency planning phase of the planning process?

2. Good reply - in the discussion of the operational planning activities I'm a bit unclear what the accountant’s responsibilities are in the activities described in the reply to the DQ - consider the following commentary on operational planning - does this discussion validate the comments in the reply to the DQ - assuming that you concur with the following comments?

3. How does the commentary from the reply to the DQ relate to the comments listed below? Please clarify. Generally strategic planning takes into consideration the following factors:

"Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action."

Generally, strategic planning deals with at least one of three key questions:

"What do we do?"

"For whom do we do it?"

"How do we excel?

Comments?

4. How would you recommend that the accountant respond to a situation where management is contemplating a merger, acquisition or strategic alliance which is two or three years in the future? What specific data bases would you consider for research? Would the approach outlined in the reply to the DQ remain the same? Should you take into consideration the convergence of U.S. GAAP and the IFRS pronouncements in your recommendation to management? Comments?

Responses should be in own words with a minimum of 90 words per question.

 


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