MGIS 317 Lecture Notes - Uptodate

• School: University of Calgary
• Department: Management Information Systems
• Course: MGIS 317
• Professor: Ronald Schlenker

Document Summary

All businesses have to keep detailed records of purchases, sales and other financial transactions. If financial records are not kept, then some rhetorical questions affecting certain group of people, for example: How much did we buy from our suppliers and have they been paid yet?- group affected: managers and suppliers. Did we pay to the workers group affected: managers and workers. It is common to divide the users of accounting information into internal and external users. The managers of a business are termed internal suers and they will have access to much more detailed and up-to-date data than other groups. External groups include the banks, government, employees and shareholders and other stakeholders of the business. To measure the performance of the business to compare against targets, previous time periods and competitors. To help them take decision, such as new investments. To control and monitor the operation of each department and division of the business.