ADMS 2500 Final: ADMS 2500 Financial Accounting Notes.docx
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ADMS 2500 Full Course Notes
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Document Summary
They engage in auditing activities, including governmental agencies, private firms that do business with governmental units, act as consultants to clients. Requires license to practice by their professional association. Employers include manufacturers, wholesalers, retailers; job includes data keeping, reporting, designing edp systems. Assist management in planning and controlling the firm"s operations. Controller is the head of the accounting department; interacts with executive management. Internal auditing staff reports to a management officer ; found in large companies. Internal auditor investigates policies, provide reliable info, promote operational efficiency. Managers need the accounting records to use the data to summarize accounting reports. Serves both people in and out an org; detailed accounting info is often needed to be reported to different levels of government. Helps measure management"s performance, compares investments, make decisions on loans. Accounting- process of recording, classifying, reporting, interpreting financial data of an organization. Bookkeeper is a job, accountant is a career.