Select a company that u can visit in person or interviewon the telephone. Call ahead to the company to arrange a time whenyou can interview an employee (preferably an accountant) who helpsprepare the annual financial statements. Inquire about the following aspects of its accounting cycle:
1) Does the company prepare interim financial statement? What reporting period is used?
2) Does the company use the cash or accrual basis ofaccounting
3) Does the company use a work sheet in preparing financialstatements? Why or why not?
4) Does the company use a spreadsheet program? If so, whichsoftware program is used?
5) How long does it take after the end of its reporting period to complete annual statements?