RSM100Y1 Lecture Notes - Lecture 15: International Financial Reporting Standards, International Accounting Standards Board, Management Consulting
31 Mar 2016
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Document Summary
Both people inside and outside an organizaion use accouning informaion. Major users of accouning info are managers, government agencies or not-for-proit organizaions. Some companies want employees to understand how their work afects the company"s botom line and therefore share their inancial statements with them; this is called open- book management. Any company that is traded publically on the stock market must report its inancial results on a regular basis. Accountants play an important role in business and in many other aspects of society. An accountants work inluences all aspects of business. Accountants provide important info that helps managers deal with compeiive economic environments. Natural progression of a business begins with inancing. Accouning professionals work in many areas in and for business irms, government agencies, and not-for-proits. They can be classiied as public accountants, management accountants, government accountants, and not-for-proit accountants. A public accountant is an accountant who provides accouning services to other organizaions.
