BUS 082 Lecture Notes - Lecture 5: Andrew Fastow, Financial Accounting Standards Board, Mci Inc.

• School: College of The Sequoias
• Department: Business (BUS)
• Course: BUS 082
• Professor: Tootle

Document Summary

Accounting: the recording, measurement, and interpretation of financial information used in business decisions. Bookkeepers are responsible for obtaining and recording the information that accountants require to analyze a firm"s financial position. Accountants are not only trained to record financial information, but to understand, interpret, and even develop the. Used by the company to report financial performance to any group outside the businesses. Used by stakeholders (stockholders, the government, lenders, competitors, investors, unions, customers) Used by the company in planning and directing the course of organization. Used by managers, owners, partners, board of directors, An independent professional who provides accounting services to the public (individuals or firms) for a fee. An accountant employed by a corporation, government agency, or other organization. In the past couple decades, thousands of economies had to restate their earnings or acknowledge accounting irregularities. Andrew fastow (10 years in jail)- enron cfo.