MGT220H5 Lecture Notes - Lecture 1: Management Accounting, Pega, Cash Flow
Document Summary
Pegaap: private entity gaap or (aspe) usually adopted by private. Managerial accounting does not have to adhere to gaap. Financial accounting looks at past, managerial takes historical data and takes it to predict future. Solution: both are concerned w/ communication of financial information. Wrong answer: both culminate in preparation of financial statements wrong because ( financial does this while managerial uses fs to project future) Role: auditor, management, creditor (state what your role and fro is) Executive summary/industry overview key success factors, swot analysis. Eatons = private canadian company experiencing cash flow probems and hired new management to turn firm around. However within months, share price plummeted and sears bought out eaton"s when it was close to bankruptcy.
