BU387 Lecture Notes - Lecture 1: Revenue Recognition, Income Statement, Bitch Better Have My Money

66 views3 pages
25 Mar 2016
School
Department
Course
Professor

Document Summary

Management accounting internal for users inside the company don"t need to follow rules. Financial accounting - external users a lot of people dependent on this and must follow rules ifrs and aspe. We want to provide information for the users of the financial statements. We want to know if we will pay the person back can you make the payments etc they need information. Use projections if you look at multiple statements you can determine trend. Information is relevant follow along and made projections. Representation faithfulness statements are complete free from error and or bias. Complete not missing any information and all information that should be there is there haven"t failed to record expenses. If you would have known the error was there i would have made a different decision if would make a difference in the decision i am making. You can enhance the statements but it is false representation.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents