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 Derivatives Pricing I 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?