AFM 102- Final Exam Guide - Comprehensive Notes for the exam ( 35 pages long!)

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM102
• Professor: Bable

Document Summary

Managerial accounting= provide information to managers for use in planning and controlling operations and for decision making. Financial accounting= provide information to shareholders, creditors, and other stakeholders outside the organization. **managerial accounting concerns determing and developing internal accounting information to help managers make business decisions that satisfy customers while monitoring costs and improving effiencies. Reports on key indicators, orders received, capacity utilization, customer satisfactiom, and sales. Work of managers: planning=establishing goals and specifying how to achieve them. = flow of management activities through planning, directing, and motivating, controlling and back to planning again. Strategy= a game plan that enables a company to attract and retain customers by distinguishing itself from competitors. Customer value propositions fall into three broad categories: customer intimacy, operational excellence, product leadership. Financial accounting: reports to those outside the organization: owners, creditors, tax authorities, and regulators, emphasizes financial consequences of past activities, emp.