Management and Organizational Studies 1023A/B Lecture 1: Management and Organizational Studies 1023A/B Lecture : Management and Organizational Studies 1023A/B Lecture : Lecture 1

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Maria Ferraro

Document Summary

There are two broad categories of users. Internal users: external users, users of financial information. External users people outside the company who need the information to make decisions. Labour unions - trying to negotiate benefits for their members: economic planners, communities will there be jobs for these people, we cannot provide detailed reports for all these users. Instead we focus on presenting the information for our primary users (investors and creditors) Accountants and other professionals have rules or codes of conduct to guide ethical behaviour. Forms of business organizations tend to work in forms that support their best interest. Proprietorship a sole proprietor : owned by one person, simple to set up- may be borrowing money from the bank, but no shares are sold, owner has control over business, unlimited liability. Partnership: similar to proprietorship except owned by more than one person, expand revenue opportunities and resource base/ expertise base, formalized in a written agreement, each partner has unlimited liability.