BU127 Chapter Notes - Chapter 6: Financial Statement, Rieti

• School: WLU
• Department: Business
• Course: BU127
• Professor: James Moore

Document Summary

Regulators: groups that set strict regulations and standards that companies must follow when reporting financial information, csa, acsb, aasb, stock exchanges. Managers: responsible for the accuracy and validity of financial statements, ceo, cfo, accounting staff. Board of directors: elected by shareholders to represent their interests, is responsible for maintaining the integrity of the company"s fi(cid:374)a(cid:374)(cid:272)ial reports. Auditors: auditors provide declarations that the financial statements are fair presentations in all material aspects in conformity with ifrs, called unqualified (clean) audit opinions. Financial analysts: receive accounting reports and other i(cid:374)for(cid:373)atio(cid:374) a(cid:271)out a (cid:272)o(cid:373)pa(cid:374)y a(cid:374)d (cid:272)reate a(cid:374)alysts" reports regardi(cid:374)g the predi(cid:272)tio(cid:374)s of the (cid:272)o(cid:373)pa(cid:374)y"s perfor(cid:373)a(cid:374)(cid:272)e, they create earnings forecasts, predictions of earnings for future accounting periods. Information services: financial statements of canadian companies are available online. Institutional investors: managers of pension funds, mutual funds, endowment funds, and other funds that invest on behalf of others. Lenders: suppliers and financial institutions that lend money to companies.