MGTA02H3 Chapter Notes - Chapter 4: Earnings Before Interest And Taxes, Quick Ratio, Gross Margin
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MGTA02H3 Full Course Notes
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Document Summary
Accounting: a comprehensive system for collecting, analyzing, and communicating nancial information. Accounting information system (ais): an organized procedure for identifying, measuring, recording, and retaining nancial information so that it can be used in accounting statements and management reports. Controller: the individual who manages all the rm"s accounting activities. Financial accounting system: the process whereby interested groups are kept informed about the. Managerial (management) accounting: internal procedures that alert managers to problems and aid them in planning and decision making. Audit: an accountant"s examination of a company"s nancial records to determine if it used proper procedures to prepare its nancial report. Forensic accountant: an accountant who tracks down hidden funds in business rms, usually as part of a criminal investigation. Generally accepted accounting principles (gaap): standard rules and methods used by accountants in preparing nancial reports. Management consulting services: specialized accounting services to help managers resolve a variety of problems in nance, production scheduling, and other areas.
