AFM131 Lecture 8: Module 8 - Accounting

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AFM131 Full Course Notes
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AFM131 Full Course Notes
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Accounting: the recording, classifying, summarizing, and interpreting of financial events to provide management and other interested parties the information they need to make good decisions. Processing: journal entries (recording), post in ledgers (classifying) and all accounts are summarized output: financial statements. Managerial accounting: provide information and analyses to mangers within the organization to assist them in decision making. Financial accounting: accounting information and analyses prepared for people outside the organization. Annual report: yearly statement of the financial condition, progress, and expectations of an organization. Chartered accountants (ca): met examination, education and experience requirements of the. Certified management accountants (cma): met examination, education and experience requirements of the society of management accountants of canada global competition, company rightsizing, outsourcing, and cost-cutting. Certified general accountants (cga): met examination, education and experience requirements of the certified general accountants association of canada taxation, finance, Private accountant: works for a single firm, government agency, or not-profit organisation (hire firm as a whole)

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