🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →

HomeClass Notes1,200,000CA670,000

Management and Organizational Studies 1023A/B Lecture Notes - Retained Earnings

45 views5 pages

fuchsiasea-lion533

23 Jan 2012

School

Western University

Department

Management and Organizational Studies

Course

Management and Organizational Studies 1023A/B

Professor

For unlimited access to Class Notes, a Class+ subscription is required.

castroariane563 and 39059 others unlocked

MOS 1023A/B Full Course Notes

MOS 1023A/B Full Course Notes

Document Summary

Statements are standardized -> same format regardless of organization. Not everything in a business is recorded (because they"re not economic transactions) Impact of pricing strategies on bottom line & company image. Secondary users (everyone other than investors and creditors) In canada, income statement has to follow standards by accounting board, which doesn"t follow same rule as cra (two sets of income statements are required, one that shows slightly higher in expenses for. Cra, and slighter high in income for shareholders) Customers want security/warranty on large-ticket items them buy. Labour unions will use financials to bargain for employee wage rights. Communities want to know if large local industry is going to close. Proprietorship is common for small start-ups or independent contractors. Even though they may create financial statements for their economic entity, they are not legally separate (unlimited personal liability) Profits are reported to cra as personal income.

Related Documents

Management and Organizational Studies 1023A/B Lecture Notes - Lecture 1: Sole Proprietorship, Legal Personality, Internal Financing

harlequinmuskrat123

Management and Organizational Studies 1023A/B

Management and Organizational Studies 1023A/B Final: MOS 1023 Course Review: Professor Barry Hawn (INCLUDES ALL NOTES FROM WHOLE COURSE, DON'T NEED ANYTHING ELSE TO STUDY)

Management and Organizational Studies 1023A/B Lecture Notes - Lecture 4: Opportunity Cost, About The Money, Fixed Cost

Related Questions

Which of the following factors help determine a manager's span of control?

A)the number of global competitors

B)the level of standardization of the work to be done

C)method of accounting for production

D)form of business ownership

Two key management functions that need particular attention when starting a business are:

A. human relations and accounting.

B. planning and financing.

C. marketing and public relations.

D. staffing and controlling.

olivesquirrel267

Which of the following statements about cultural differences in the workplace is most accurate?

A. The best way to deal with cultural differences in the workplace is to treat everyone the same way

B. Cultural differences were once a major problem, but television, telecommunications, e-mail, and the Internet have brought people closer together and greatly reduced cultural differences

C. Managers must be very aware of cultural differences and recognize that different employee may respond best to different management and motivational styles

D. Only firms that hire a lot of foreign-born workers are likely to have problems dealing with cultural differences. Workers born in the United States tend to have a common set of values and attitudes, regardless of age or social background

ceruleankangaroo217