MGMT 100 Lecture Notes - Lecture 16: Cash Flow Statement, Quick Ratio, Accounting Equation

• School: UBC Okanagan, UBC OK
• Department: Management
• Course: MGMT 100
• Professor: Zhu

Document Summary

The role of accounting information: accounting: the recording, classifying, summarizing, and interpreting of financial events to provide management and other invested parties the financial information they need to make good decisions, accounting audiences: managers, government, investors, suppliers, and. Creditors: financial transactions: include buying and selling goods and services, acquiring insurance, paying employees, and using supplies, accounting system: the method used to record and summarize accounting data into reports. Accounting information support decisions: managers: financial reports pinpoint problems/opportunities, investors, suppliers, and creditors: provides a means to analyze business, government: assists with tax collection. Areas of accounting: the accounting profession is divided into five key working areas, managerial accounting, financial accounting, auditing, tax accounting, governmental and not-for-profit accounting. Areas of accounitng: managerial accounting, inside organization, cma, cga, auditing, review and evaluating the records, tax accounting, preparing returns, financial accounting: attest function, audit, taxes, ca, cga, cma, government & not-for-profit accounting.