Textbook Notes (380,974)
CA (168,304)
UTSC (19,296)
MGT (1,095)
MGTA02H3 (363)
Chapter 4

chapter 4 textbook notes

4 Pages

Management (MGT)
Course Code
Chris Bovaird

This preview shows page 1. Sign up to view the full 4 pages of the document.
Chapter 4
Accounting: system for collecting, analyzing and communicating financial information
measure business performance, then transform as information for decision making
Bookkeeping: recording accounting transaction
Accounting information system: procedure for identify, measure, record, retain financial
information, use in accounting statement and management report
manager: set goal and budget, develop plan, future
employee: paid and planned, receive benefit
investor and creditor: estimate return for stockholder, determine growth prospect, if is good credit
taxing authorities: tax inflow, tax liabilities, ensure correct amount
government regulatory agencies: duties, provincial securities commission
Controller: manage all firms accounting activities
Financial accounting system: kept inform about financial condition of a firm
external user (consumer, government): focus activities of company as a whole (not individual
Managerial accounting: internal procedure alert manager to problem and aid by planning and
decision making
report in individual unit
distinguish FA and MA by different user they serve
not historical, forwarding looking
Professional Accountant
·chartered accountant (CA): certain experience and education requirement, licensing exam,
outside accountant for other firm
focus on external financial report
·certified general accountant (CGA): education, exam, work in private industry/CGA firm
focus on external, use computer as tool
·certified management accountant (CMA): university, exam, strategic leadership, work in

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
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
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.