MGTA02H3 Lecture Notes - Lecture 8: Income Statement, Financial Accounting

• School: UTSC
• Department: Management
• Course: MGTA02H3
• Professor: Arif Toor

Document Summary

Operations managers plan and organize the creation of the product. Information: data organized, data analyzed, data put into context. Knowledge: through education and experience, use information to make decisions. Warner music groupsaid nov 2016, it swung into profit in the fourth quarter, but its results fell short of expectations. Profit totaled -million (u. s. ), or 8 cents a share, for the three months ended sep. 30, compared with a loss of million or 21 cents a year ago. Revenue fell 6 per cent to million. Accounting: a system for collecting, analysing and communicating financial information. Measure business condition and performance (revenue, expenses, profits or losses, taxes) To measure and analyse all businesses, we use a common unit of measurement: the dollar. Detailed aimed at internal users high-level aimed at external users. Tells internal users about performance and problems, for planning, decision making and control purposes. Tends to look at individual products, plants or divisions.