ADMS 2500 Lecture : lecture 1. Module 1. Introduction

• School: York University
• Department: Administrative Studies
• Course: ADMS 2500
• Professor: Marcela Porporato

Document Summary

a system of measurement: it s a process. communicating: in the same level of understanding. financial position: make money, for investors and decision makers: show me the money. cash flow statement: more incoming rather than outgoing: positive cash flows. So there are income statement: expenses and incomes owner s equity statement positive, balanced, and negative cash flows. Iii. y managers get information for comparing performance and others via information furnished from the accounting department y owners, prospective investors y creditor: bank and others who lend money to business. They look at the cash flow, profits of last years and so on. y government and regulators: taxes and check incomes etc. y unions and advocacy groups y general public: competitors. Purpose of accounting: gather information to help make better decisions. Focus of financial reporting: the final score is the financial statements, each period is the month , the final score is shown within a financial year.