ACC 117 Lecture Notes - Lecture 11: Cash Flow Statement, Financial Accounting, External Auditor
Document Summary
Describe the key differences between financial accounting and managerial accounting. creditors, and bankers. Other differences: flow statement. including budgets, cost reports, and performance evaluations. appropriate to the decision being made. It is also useful for nonprofit organizations such as universities, charities, and hospitals. achieve them. adjustments. Describe the role of ethics in managerial decision making, the sarbanes-oxley act, and sustainability accounting: ethics refers to the standards for judging right from wrong, honest from dishonest, and fair from unfair. Managers confront ethical dilemmas that do not have clear-cut answers. Sox requires managers to issue a report that indicates whether the: incentives. Sox imposes stiffer penalties, including jail time and monetary fines, for: character. Sox emphasizes the importance of individual character in preventing: the sarbanes-oxley (sox) act of 2002 increases managers" responsibility for creating and maintaining an ethical business and reporting environment.
