MAA261 Lecture Notes - Lecture 1: Sustainability Reporting, Internal Control, List Of The Shield Episodes
Document Summary
What is accounting: defined as: identifying, recording and communicating economic information to permit informed decisions by users. Why is accounting important: accounting is a communication tool and helps people make decisions: How to ensure the quality of financial reporting: corporate governance is a system in which the business is controlled or managed. It influences how the objectives of a company are set and hence the decisions made by the management to ensure their goals are aligned with those of shareholders. Good corporate governance protects investors from managers who may not always act in the best interests of stakeholders. Eg increased disclosure of information, effective monitoring of information. External users: managers who plan, organize and run a business. Ethical behaviour: ethics are defined as: the standards of conduct by which your actions are judged as right or wrong, honest or dishonest, fair or not fair.
