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MGT120H5 (39)
Lecture

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Department
Management
Course
MGT120H5
Professor
Catherine Seguin
Semester
Winter

Description
Lecture 1 Jan 7,2014 Accounting Information in Decision Making ABusiness 1. Owner & Creditors provide the funds 2. Funds used by managers of company to buy equipment, inventory and other assets 3. Managers develop plans and set goals (e.g. to make profit) Financial Accounting Purpose: to provide financial info for decision making. Financial statements summarize acting info Financial Statements Income Statements: revenue and expenses Balance Sheet: assets, liabilities, and equity Cash Flow: operating, investing and financing Income Statement Revenue: sale of product Less: expenses – cost of running business (salar
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