RSM222H1 Study Guide - Comprehensive Final Exam Guide - Management Accounting, Income Statement, Financial Accounting
Document Summary
A measurement procedure which provides information about an organization"s economic value of its economic activities. It also provides information for managers to facilitate strategy implementation. Managerial accounting: internal, forward looking: these are all the assumptions, relevant information to decision making, timeliness. Because managers need to these information urgently, they need to make decision now and this makes they need to roughly estimate the inventory: it is more on the segment reports. Canadian company, whether is it possible to enter the us market: no rules to follow. Managerial accounting does not need to take the rules like gaap/aspe/ifrs: requirement: not mandatory. Mission and vision statement are communicating purpose to the stakeholders. Goals and objectives: how we can gauge the success. Strategy is a game plan that enables a company to attract customers by distinguishing from competitors. The focal point of a company"s strategy should be its target customers.
