MGM102H5 Chapter Notes - Chapter 10: Cash Flow Statement, Financial Statement, Balance Sheet
Document Summary
Chapter 10 notes understanding accounting and financial information. Purpose is to help managers evaluate the financial condition of firm so they can make well-informed decisions. Another purpose is to report financial information to people outside the firm (owners, creditors, suppliers, employees) Ma; accounting used to provide managers within an organizations with analyses and info to assist in decision making. Fa; accounting info and analyses for people outside the organization (owners, creditors, lenders) Management must find ways to improve performance. Annual report; yearly statement of financial condition, progress, and expectations of organization. Chartered accountant (ca); accountant who has met examination, education and experience. Fa; new area of accounting that focuses attention on fraudulent activity requirements of canadian institute of chartered accountants. Certified management accountant (cma); accountant who has met examination, education and experience requirements of society of management accountants of canada.
