ARBUS102 Lecture Notes - Lecture 1: Income Statement, General Ledger, Promissory Note
14 Jan 2016
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Making sure factory runs well (material when needed) Hr (b/c they deal with salaries, and the accountant has to deal with. Sales (b/c the accountant needs to know how much of the product was. Marketing (b/c they need to know how much they spend on. Factory (b/c they need to know what they bought, what they sold, what payrolls as well) sold) advertising) they need, etc. ) An accountant needs to talk t a lot of people and then they take the data collected and record the information. Their main role is to record all business transactions. Want to know if the business is profitable. The government wants to know if you have made money or not (tax return) Liquidity (how quickly an asset can be changed into cash) Compare with other companies in the industry as well as ourselves (how we did this year vs. how we did last year) Ratio analysis, inventory turnover, and account receivable.
