ACC 406 Lecture Notes - Lecture 1: Lean Accounting, Cost Leadership, Product Differentiation

• School: Ryerson University
• Department: Accounting
• Course: ACC 406
• Professor: Anthony Chan

Document Summary

Intended for internal users: not subject to rules for external financial reporting (ex. Gaap and ifrs regulations: subjective, able to use both financial and nonfinancial measures of performance, able to give a broader, interdisciplinary perspective, financial accounting is, directed toward external users, subject to externally imposed rules (ex. Gaap and ifrs regulations: able to provide audited, objective financial information. Identify and explain the current focus on managerial accounting. It supports management focus on customer value, total quality management, and time based competition.