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BUSA 100 (17)
Lecture

Accounting with Desmond Tsang notes

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Department
Business Admin
Course
BUSA 100
Professor
Morty Yalovsky
Semester
Winter

Description
Accounting w Desmond TsangWhat is accounting Before known as the art of recording classifying and summarizingToday known as a language of business Why do we need accounting Measuring a companys performance accurately fairly and timelyNecessary to compare income and assets and assess relative risks and returns associated with companies Accountantsomeone who conducts reporting tax planning budgeting for organizations Provide useful and reliable financial information Major Areas of Accounting historical info used by externalinternal usersFinancial Accounting Auditingwhen accountants report financial information how can we make sure theres no bias Auditors are outsiders that govern the profession by verifying the facts historicalfo
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