Why is team work so important in Accounting?

Question

I am supposed to write a paper about this. Anybody willing to give me some tips?

Answer 1

Unless your company is so small that you can handle the whole a/cs function yourself, chances are you work in an Accounts Department. Usually such a dept will have an Accounts Receivable, Accounts Payable, Inventory, Payroll, etc, sub-depts. If you are the Accountant or Chief Accountant, you will need those working under you to feed you with the figures for your financial statements purposes for reporting to your boss. The teamwork doesn't just stop in the Accounts Dept. At budget time, you need to get the projected sales figures from the Sales Dept, the projected capital expenditure from those in charge of infrastructure or fixed assets, etc. The advertising budget will have to come from the marketing and promotions guys, and so on, so the whole company has to work as one and co-operate with each other.

Answer 2

It's important to be part of the team because you may only be doing a fraction of the accounting work required for the project or task and if your portion is wrong, the whole task will be wrong.