Textbook Notes (368,089)
Canada (161,636)
MGTA02H3 (363)
Chapter 4

chapter 4 textbook notes

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Management (MGT)
Chris Bovaird

Chapter 4Accounting system for collecting analyzing and communicating financial informationmeasure business performance then transform as information for decision makingBookkeeping recording accounting transactionAccounting information system procedure for identify measure record retain financial information use in accounting statement and management reportmanager set goal and budget develop plan futureemployee paid and planned receive benefitinvestor and creditor estimate return for stockholder determine growth prospect if is good credit risktaxing authorities tax inflow tax liabilities ensure correct amountgovernment regulatory agencies duties provincial securities commissionController manage all firms accounting activitiesFinancial accounting system kept inform about financial condition of a firmexternal user consumer government focus activities of company as a whole not individual departmenthistoricalManagerial accountinginternal procedure alert manager to problem and aid by planning anddecision makingreport in individual unitdistinguish FA and MA by different user they servenot historical forwarding lookingProfessional Accountantchartered accountant CA certain experience and education requirement licensing exam outside accountant for other firmfocus on external financial reportcertified general accountant CGA education exam work in private industryCGA firmfocus on external use computer as toolcertified management accountant CMA university exam strategic leadership work in industrywwwnotesolutioncom
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