SMG SM 131 Lecture Notes - Lecture 3: Institute Of Internal Auditors, Gigafactory 1, Internal Auditor
13 Mar 2018
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They provide solutions to things we need/want - they are focused on consumers. Accounting got everything to do with this. Equity/credit analyst; investment banking; private equity (better with accounting background) Auditor/cpa; internal auditor; regulator/compliance (starting point and most heard about) Blockchain - early stages of use (accounting system is becoming distributed) What managers need to do (internal perspective) Where to build/how big to make factory. Accounting info is a primary input to these decisions. These are the key components of managerial accounting. To ensure making profit (recover cost from direct materials, etc. ) Trying to create workers that are doing things that are helpful to the company. Most companies adopt stakeholder perspective, about long-term sustainability. Profitability is more than the dollar signs. Senior management: million bonus if achieve earnings of x. Value of firm (and thus options) driven by earnings. Accounting has a major role in managerial decisions [this is ac222] What investors need to do (external perspective)
