MA9902C00 Lecture : Importance of Communication and Its Process

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mahimaajith0204

13 Mar 2023

School

Mahatma Gandhi University

Department

Accounting

Course

MA9902C00

Professor

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Document Summary

The word correspondence (got from the latin "communicare" it signifies "to share") is the demonstration of sharing thoughts, feelings, and sentiments between at least two individuals. We know about the requirement for and significance of correspondence as it is an overall peculiarity. These days correspondence is assuming a fundamental part in each stroll of a person. There are many changes occurring in the corporate world; it has turned into a significant apparatus in the administration examination and administrative cycle. While thinking about this large number of viewpoints, the outcome of any business/calling relies on appropriate correspondence. 70-80 percent of working time is spent on a correspondence of some sort or another. We are perusing, composing, and paying attention to our collaborators, or having one-tone discussions with our managers. To have dominance in correspondence that specific individual ought to know about language abilities in particular tuning in, speaking,

Related Questions

The following is monthly budgeted cost and activity informationfor the four activity centers in the billing department of OregonPower Company:

Activity Center	Variable	Fixed	Cost Driver
Account inquiry	$82,314	$170,000	3,400 labor hours
Correspondence	$9,396	$21,000	2,700 letters
Account billing	$156,000	$88,000	2,600,000 lines
Bill verification	$12,040	$77,000	21,500 accounts

In September, actual costs and activity were as follows:

Activity Center	Total Costs	Driver Amount
Account inquiry	$253,269	3,430 labor hours
Correspondence	$30,726	2,740 letters
Account billing	$246,137	2,630,000 lines
Bill verification	$89,416	21,320 accounts

Required
Compute the flexible-budget variances for the following twoactivity cost items (round all answers to the nearest dollar andenter favorable variances as positive numbers and unfavorablevariances as negative numbers):

Account inquiry ?

Account billing?

The IRS has issued a summons for the tax file held by CPA, AnnWhitman for her clients, the Harberts. The file consists of paperand electronic spreadsheets in which Whitman detailed some taxcomputations using assumptions that the IRS would find to be "tooagressive." In addition, the file includes notes from meeting withthe Herberts, income and balance sheet data as to thier personalassets, and other technical correspondence, including emailmessages. In a memo to the tax research file, summarize the currentstatus of the law as to whether the privilege of confidentialityprotects these documents from the government.

Social and Digital Media

Electronic communication has all but replaced traditional means of communication in our lives and work. As a result, we have experienced a great many rewards and time no longer has the same meaning as it once did. Now our thoughts and ideas can be transmitted almost instantaneously. CPA firms have no doubt reaped the benefits of being able to streamline communication between clients and the firm and marketing is facilitated through websites that contain volumes of information that can assist in gaining clients, recruiting talent and promoting the profession.

However, there are also many risks associated with social media and the CPA and firm are not immune to those. Therefore, it is of utmost importance if you as going into public accounting that you are aware of the risks that are involved in using social and digital media to perform your work as well as risks that your personal information could be used against if you were to become involved in litigation. The following are some examples of where you could run into problems:

Increased Risk for Break of Client Confidentiality â CPAs are given confidential information, such as W-2s, tax returns, social security numbers, credit and debit card information, in order to do their work. You could unintentionally disseminate this sensitive information to others if you press the wrong button or choose the wrong recipient on an email.

Boasting can threaten Credibility â If a CPA firm were to be involved in litigation, an attorney will first seek out the free information that can be found online. If the firm or CPA were to have posted information on Facebook, LinkedIn or some other site that could be shown to be indefensible or inflated, this could be used to call into question the integrity of the firm or CPA.

Independence and Objectivity Issues â If an attorney representing shareholders who lost money due to a company presenting false financial information due to fraud can find information to indicate that the CPA lacked objectivity or independence as required for an audit, then that could be used against the CPA in a legal case. Correspondence between a CPA and a client that shows too familiar a relationship, no matter how innocent it may have been, could be used to assert a claim against the CPA for not discovering fraud due to a lack of objectivity or independence.

Discuss some internet and digital policies that would be beneficial for a CPA or a firm to institute to avoid having their employees or the firm encounter the type of problems discussed above.

Discuss your answers to the question at the end of the case with the class. Keep the discussion going all week.

Source - http://www.journalofaccountancy.com/issues/2016/mar/social-media-risks.html?utm_source=mnl:twtcpa&utm_medium=email&utm_campaign=09Mar2016

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MA9902C00 Lecture : Importance of Communication and Its Process

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