RSM220H1 Lecture 1: 1 Intro September 11- 2017
Document Summary
What is fr? keep track of company"s assets and liabilities and stu help us to present the information help users to evaluate the rm condition performance. *raise salary, increase expenses, lows net income (all depends on incentives) most of time, managers are intended to boost the net income. Stakeholders anyone who relies on the nancial statements. Nancial analysts major causes who prepares the statements who are the users for what purpose. > standards for safeguarding to make nancial accounting highly regulated. Prepares direction on accounting present fairly the nancial condition an operations of the re to reduce management bias. Users reasonable con dence ensure the information is useful sources. Cpachb part ii (accounting standards and guidelines) other textbooks, industry standards, gaap or standards from other jurisdictions. Cpachb part i other accepted industry practices, pronouncements of tother standard setting bodies, accounting literature.
