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Lecture

BUS 251 Lecture Notes - John Wiley & Sons, International Accounting Standards Board, International Financial Reporting Standards


Department
Business Administration
Course Code
BUS 251
Professor
Anne Mac Donald

Page:
of 36
Prepared by L. de Grace C.A.
a user perspective
Sixth Canadian Edition
FINANCIAL ACCOUNTING
John Wiley & Sons Canada, Ltd. ©2011
CHAPTER ONE
Overview of Corporate Financial Accounting
Overview of Corporate Financial
Reporting
Accounting: an information system in
which the underlying economic conditions
of organizations and individuals are
recorded, summarized, reported, and
understood
John Wiley & Sons Canada, Ltd. ©2011
Corporate Financial Reporting
Financial statements: reports
summarizing a company’s performance
during a particular period.
Annual report: reports the results of the
company’s activities during the year
John Wiley & Sons Canada, Ltd. ©2011