ENTR 1201 Study Guide - Quiz Guide: Planet Money, Asia-Pacific, Positio

• School: Northeastern University
• Department: Entrepreneurship & Innovation
• Course: ENTR 1201
• Professor: Bob Steere

Document Summary

Accounting information system an organized procedure for identifying, measuring, recording, and retaining financial information so that i can be used in accounting statements and management reports. Controller (chief accounting officer) manages a firms accounting activities by ensuring that the ais provides the reports and statements needed for planning, decision making, and other management activities. Financial accounting field of accounting concerned (cid:449)ith e(cid:454)ter(cid:374)al users of a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s financial information. Consumer groups, unions, stockholders, suppliers, creditors, and government agencies. Managerial accounting field of a(cid:272)(cid:272)ou(cid:374)ti(cid:374)g that ser(cid:448)es i(cid:374)ter(cid:374)al users of a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s fi(cid:374)a(cid:374)(cid:272)ial information. Audit s(cid:455)ste(cid:373)ati(cid:272) e(cid:454)pla(cid:374)atio(cid:374) of a (cid:272)o(cid:373)pa(cid:374)(cid:455)"s a(cid:272)(cid:272)ou(cid:374)ti(cid:374)g s(cid:455)ste(cid:373) to deter(cid:373)i(cid:374)e whether its financial reports reliably represent its operations. Gaap a(cid:272)(cid:272)ou(cid:374)ti(cid:374)g guideli(cid:374)es that go(cid:448)er(cid:374) the (cid:272)o(cid:374)te(cid:374)t a(cid:374)d for(cid:373) of fi(cid:374)a(cid:374)(cid:272)ial reports. It"s formulated by fasb (financial accounting standards board) Private accountant salaried accountant hired by a business to carry out its day-to-day financial activities.