MGMT 1P93 Lecture Notes - Lecture 17: Accrual, Investment, Capital Expenditure
14 Oct 2015
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Chapter # 6, chapter # 7, chapter # 8 and chapter # 9. Loans- business development bank of canada, export development. Lack of knowledge and experience- might have knowledge about area but not running a business. What service or product does your business provide. Who are the potentional customers for your product or service. Per capita income- ppl start business in low income places cause no other option. Oppritunity costs- entrepreneur rates are lower in places that have high job security. Cultural political environment- regulations can hinder entrepenurship by raising daunting barriers. Suppliers government agencies what do accountants do: development of budgets, cost management, assest management. Prepare reports for managers and financial statements for owners. Branch of accounting that addresses the needs of external stakeholders including shareholders,creditors,and government regulations. Intrested in the financial performance of the firm as a whole. International financial reporting standards ( ifrs)- guide the practice of financial accounting.
