BUS 251 Lecture Notes - Lecture 1: Consolidated Financial Statement, Operating Cash Flow, Canada Revenue Agency

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: Susan Bubra

Document Summary

Is the process by which information on the transactions of an organization is captures, analyzed and used to report to decision makers outside the organization"s management team. Creditors those who have lent money to the organization. Financial statements management reports to the company"s owners that are produced at the end of each accounting period (every quarter, or year) Included in company"s annual report and management discussion and analysis (md&a) of the company"s results for that year. Companies are owned by its shareholders, (1 = private * thousands = public). When there are many shareholders they select a board of directors, which oversee the management team. They all need info to assess how well the management team has been running the company. Creditors are those who lend money, credit to a company rather than investing in it. There are two major groups: financial institutions and other lenders a. i.