BUS 254 Lecture Notes - Lecture 4: Financial Statement, Fixed Cost, Variable Cost

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 254
• Professor: Hwee Cheng Tan

Document Summary

Provides economic and financial information for managers and other internal users. Managerial accounting information is produced for users within the organization. Financial accounting information is produced for users outside the organisation (shareholders, creditors, government) Planning: defining goals, establishing strategy/objectives, and developing sub plans to coordinate activities. Organizing: determining what needs to be done, how it will be done and who will do it. How to coordinate departments to ensure we achieve sales target. Leading: directing and motivating involved parties and resolving conflicts. What monetary rewards will ensure employees perform best, how to encourage employees to take initiatives. Controlling: monitoring activities to ensure that they are accomplished as planned. North american economy in general has shifted toward an north american economy in general has shifted toward an emphasis on providing services. Today, over 50% of u. s. and canadian workers are employed by service companies. Trend is expected to continue in the future.