GEO 509- Final Exam Guide - Comprehensive Notes for the exam ( 147 pages long!)

• School: Ryerson University
• Department: Geography
• Course: GEO 509
• Professor: Hersch Jacobs

Document Summary

Managerial accounting: the form of accounting concerning providing information to managers for use in planning and controlling operations and for decision making. Financial accounting: the form of accounting concerning providing information to shareholders, creditors, and others outside the organization. The work of managers and their need for managerial accounting information: Planning: developing goals and specifying how to achieve them. Directing and motivating: mobilizing people to carry out plans and run routine operations. Controlling: gathering feedback to ensure that the plan is being properly executed or modified as necessary. Decision making: selecting a course of action from among alternatives. Budget: a quantitative plan for acquiring and using financial and other resources over a specified future time period. Controller: the manager in charge of the accounting department in an organization. Performance reports: detailed reports prepared on a periodic basis that compare budgeted data to actual data.