Do quants need to know Accounting?
In my school's undergrad Quant program, we had Financial Accounting and Managerial Accounting, which were listed as prerequisites for our undergrad Finance subjects.
I am taking grad Quant now, and I have not seen Accounting ever turn up again except in Financial Statements. In fact, our first grad Finance course, Derivatives Pricing I (Chapters 1-11 of Hull's Options, Futures and Other Derivatives), has been added to the new curriculum of the undergrad Quant program, and I know someone who took it at the same time as Financial Accounting. This person did not even yet take Managerial Accounting.
Even though said Finance course can apparently be taken without Financial Accounting, I guess it's possible that Accounting may show up in future courses or in the real world.
If so, in what scenarios for example?