BUSN 70 Lecture Notes - Lecture 4: Governmental Accounting Standards Board, Accounts Receivable, Indian Anna
3 Nov 2016
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Document Summary
Accounting understand, interpret, and analyzed financial activities, more training. Bookkeeping narrow and mechanical, limited to routine recording of transactions, obtain and record info. Examining source docs recording transactions posting transactions preparing financial statements used by accountants, requires less training. Certified public accountant (cpa): state certified to provide accounting services. Private accountant: employed by large corps, gov agencies, and other organization to prepare and analyze their financial statements. Certified management accountants: private accs. who go through rigorous exams and are certified by. National association of accountants and have some managerial responsibility. >uses of internal accounting information help manage business, those who have managerial positions or have direct financial interests (investors), creditors (banks that you owe money too), gov agencies (irs) >accounting standards different entities have diff standrds for their accounting methods. Gaap: public and priv bus; generally used in us as standard method of accounting. >managers and employees plan, set goals, organize, lead, motivate and control.
