BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The answer is option C. Hard assets are the company’s tangible assets, like land, buildings, and equipment. Accounting for those assets is not a significant challenge since these can be easily identified and recognized.

Detailed explanation-2: -So, what are the biggest challenges facing accountants today? Cash flow, hiring new talent, adapting to new tax and regulatory changes and continuing to adjust to remote work remain some of the largest hurdles for accounting teams.

Detailed explanation-3: -What are some of the major challenges facing the accounting profession? customer satisfaction indexes, backlog information and reject rates on goods purchased.

Detailed explanation-4: -Client relations Adjusting to setbacks caused by COVID-19 continues to be one of the biggest challenges facing the accounting profession in 2022. Therefore, it’s crucial for companies to address these setbacks to keep their customers happy and ensure the customer experience doesn’t suffer as a result.

Detailed explanation-5: -Management accounting challenges usually involve collecting, recording and reporting financial information from several divisions or departments. Cost allocation methods require information for direct materials, production labor and manufacturing overhead. This information is needed for multiple production departments.