BUSI 2201 Study Guide - Midterm Guide: International Financial Reporting Standards, Earnings Before Interest And Taxes, Internal Audit
3 Feb 2015
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Document Summary
Managerial accounting focuses on providing internal management with the information it needs to run the company efficiently and effectively. Accounting standards for private enterprises (aspe)- reporting guidelines appropriate for organizations that do not fit the definition of publicly accountable. International financial reporting standards (ifrs)- the provincial securities commissions have recently moved to adopt ifrs for all publicly traded companies. Board of directors- the body elected by shareholders to oversee the company. Chief executive officer (ceo)- oversee the company on a daily basis. Chief operating officer (coo)- overseeing the company"s operations. Chief financial officer (cfo)- responsible for all the company"s financial concerns. Treasurer- the position responsible for raising the firm"s capital and investing funds. Controller- the position responsible for general financial accounting, managerial accounting, and tax reporting. Internal audit function- the corporate function charged with assessing the effectiveness of the company"s internal controls and risk management policies.
