ACCT1101 Lecture Notes - Lecture 5: Cash Flow Statement, Financial Accounting, Management Accounting
Document Summary
Click on the logo below to find all the study documents for your courses. The process of identifying, measuring and communicating economic information to permit informed judgement and decisions by users of the information. It is implied that information has value in the decision making process. Investors: current & future profitability, growth, risk, return, etc. Employees: potential to pay wages, job security, etc. Used internally by management for planning, etc. Deals with both historical and projected data. Detailed and tailored to specific management needs. Difference between actual and projected figures can be considered favourable or. Accounting measures the increase in value created by transforming one resource unfavourable. into another. Organizations are a group of people who work together to develop, produce, and/or distribute goods or services. They exist because their goals are too complex, too large or too expensive to achieve without cooperation. The purpose of an organization is to transform resources from one form to another,
