![]() ![]() ![]() These types of financial transactions have a significant impact on the financial statements and overall business performance. ![]() In the field of finance and accounting, I am likely to generate financial transactions such as revenue recognition, expense recognition, and capital expenditure. I would be responsible for ensuring accurate financial reporting, maintaining compliance with accounting standards and regulations, and providing strategic financial guidance to support decision-making. As a Director of Finance and Accounting, my role would be to oversee and manage the financial operations of an organization. My information: I'm currently pursuing a degree in business administration degree with the hopes of one day becoming the Director of Finance and Accounting at my current place of employment. Every individual that works at the company has to play a part in the assurance of accurate accounting. Especially at a company as large as The Walt Disney Company, there are millions of transactions made every single day, so having accurate accounting details is vital to the success. Financial accounting is particularly important in a marketing career. Revenue would decrease significantly without marketing. Not as many people would be aware of the product or service without marketing. Without marketing, the opportunity for sales is not nearly as high. As for revenue, marketing affects it in many ways. As for wage expenses, they would also be debited on an income statement because Disney has a large marketing department, therefore, they must factor in paying their employees their fair wages. Advertising could be anything from commercials on television to flyers being handed out, and all of those things would be debited as an advertising expense on an income statement. Marketing is always a large part of the total cost of a product, as it is important to advertise the product to reach the most amount of people. Three types of financial transactions that would likely occur in a marketing department would be advertising expenses, wages expenses, and revenue. I did a college program at Walt Disney World, and I intend to return to work for the company in their marketing department once I finish my degree. Peers' information: I plan to pursue a degree in Marketing, as it has always been extremely interesting to me. Explain whether you agree with their assessment of the importance of accounting in their field and why. In response to your peers, discuss any similarities with your chosen field or the transactions that need accounting. Conversely, if the ratio decreases, it would indicate an unfavorable change. Therefore, if the ratio increases from 20Y4 to 20Y5, it would indicate a favorable change. A higher ratio indicates that the company is more effectively using its fixed assets to generate sales. ![]() The Fixed Asset Turnover Ratio indicates how well a company is using its fixed assets to generate sales. Let's calculate the Fixed Asset Turnover Ratio for 20Y4 and 20Y5 using the provided data.
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