AFM131 Lecture Notes - Lecture 8: Retained Earnings, Accounts Receivable, Preferred Stock

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Accounting disciplines: accounting is divided into five key working areas, managerial accounting, financial accounting, auditing, tax accounting, government and non-for-profit accounting. Financial accounting: financial accounting information and the analysis it generates are people primarily outside the organization, annual report a yearly statement of the financial condition, progress, and expectations of an organization. 2: private accountant an accountant who works for a single firm, government agency, or not-for-profit organization, public accountant an accountant who provides his or her accounting services to individuals or businesses on a fee basis. In canada, the ontario securities commission (osc) introduced bill 198: ceos and cfos are required to certify reports, auditors required to be part of canadian public accountability board oversight. Program, reviews audited financial statements: standards for the independence and education experience of audit committees were defined. Auditing: auditing reviewing and evaluating the records used to prepare a company"s financial statements.