[ACG 2071] - Midterm Exam Guide - Comprehensive Notes for the exam (15 pages long!)
Document Summary
Managerial accounting provides information that helps managers fulfill their three primary responsibilities: planning, directing, and controlling operations. Integrated throughout all of these responsibilities is decision making. Planning setting goals and objectives for the business. Controlling evaluating results of business operations. Managerial accounting emphasizes relevant information that can be used to make business decisions that will positively impact the future operations of the company. Help external users make decisions about the company (investing or lending decisions) Help managers plan, direct, and control their business (help them make good decisions to run their business better) Ethical behavior means doing the right thing, regardless of the consequences. Not all unethical behavior is illegal, but all illegal behavior is unethical. Sustainability, as defined by the united nations, is the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.
