AFM123 Chapter Notes - Chapter 1: Financial Accounting, Financial Institution, Alliedsignal

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM123
• Professor: Hector Gamez

Document Summary

Ensure business is properly guided so that its objectives are achieved. Earning at a certain level of profitability or maintaining a certain level of marke. Manager"s must: plan for the future, implement or execute the plans, and control the. Managers need information that focuses on internal activities. Managerial accounting: provides managers with essential information they can us organizations. Managerial accounting systems are designed to provide relevant information to ass managing processes and activities aimed at achieving the mission the vision. Wholesale and retail outlets (purchases goods from suppliers and resells consumers) Engage in the production and sale of different types of products, ranging from consumer goods to large products. General direction the organization plans to move to achieve its goals and objectives. Managers carry out the three main activities of planning, implementation, and control. Involves selecting a course of action and specifying how the action will be impleme.