MGAB01H3 Chapter 1: chapter 1

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26 Oct 2010
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MGAB01H3 Full Course Notes
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MGAB01H3 Full Course Notes
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Accounting j is the information system that identifies and records the economic events of an organization, and then communicates them to a wide variety of interested users. Internal users j they work for the company. These include finance directors, marketing managers, human resource personnel, production supervisors, and company officers. Accounting provides internal reports: financial comparisons of operating alternatives, projections of earnings from new sales campaigns, forecasts of cash needs for next year, analyses of sales costs, and budgets financial statements. External users j investors and creditors are the main external users of accounting information. Investors: is the company earning enough to give me a return on my investment. Creditors: will the company be able to pay its debts as they come due. Labour unions: can the company afford the pay raise we are asking for. Customers: will the company stay in business long enough to service the products i buy from it.

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