Management and Organizational Studies 1023A/B Chapter Notes - Chapter 1-5: Embezzlement, Management Accounting, International Financial Reporting Standards

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Christina Maco

Document Summary

Internal users of accounting information (plan, organize, and run companies: finance directors, marketing managers, hr personnel, production supervisors, company officers. Investors (buy, hold, or sell: creditors, ie. suppliers and bankers (evaluate risks of giving lines of credit) main, labour unions (increase pay or not, customers, canada revenue agency, regulatory agencies, ie. provincial securities commission, economic planners. To be valuable, financial information must be prepared ethically. Creditor claims are paid before shareholder claims. Investing (cash is not investing, it is a result from or a means by someone invests; investing involves selling or purchasing long-lived assets for operation or securities: operating (transactions that create revenues and expenses) Countries are moving away from individual accounting standards and towards unification. International accounting standards board (iasb) created to unify global standard setting. Canada has its own set of account standards made by the accounting standards board. It recommended that profit-oriented publicly traded companies in canada move to.