[BUS 251] - Final Exam Guide - Everything you need to know! (31 pages long)

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: Anne Mac Donald

Document Summary

Accounting: an information system where economic data about an organization is measured, organized, and communicated. Financial information includes economic data that includes things such as transactions with customers, suppliers, bankers, etc. Communication of financial information: company provided information: (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:449)e(cid:271)site, (cid:374)e(cid:449)s release, pri(cid:374)ted fi(cid:374)a(cid:374)(cid:272)ial reports, new media: twitter, google, blogs, external media reports: newspaper stories, magazine articles, tv reports. Data captured, measured, organized, edited financial information. Company management captures, measures, and summarizes the events of financial information. Fi(cid:374)a(cid:374)(cid:272)ial state(cid:373)e(cid:374)ts are ofte(cid:374) part of the (cid:862)annual report which are prepared annually by the company management and are available to all owners of the company (like shareholders) and online for publicly traded companies. Management discussion and analysis (md&a: general discussion of the results, non-technical language, pictures and graphs, future plans. Financial statements: statement of income (i/s, statement of changes in equity, statement of financial position, statement of cash flows.