ACTG 2020 Chapter Notes - Chapter 1: Canada Revenue Agency, Triple Bottom Line, Management Accounting
Document Summary
Managerial accouning: the provision of accouning informaion for a company"s internal users. Since it is for the managers of the company, it does not have to follow a certain criteria like. Managerial accouning"s three broad objecives: to provide informaion for planning the organizaion"s acions, to provide informaion for controlling the organizaion"s acions, to provide informaion for making efecive decisions. More irms are bringing the idea of releasing their csr (corporate sustainability reports) because they would rather manage their reputaions by releasing informaion about themselves than having the public make esimaions and assumpions of their company. Managers and empowered workers need comprehensive, up-to-date informaion for the following aciviies: Planning (ex: which desinaion to go to on a road trip) Controlling (ex: making sure the driver is following the speed limit) Usually achieved by comparing actual performance with expected performance. Decision making (ex: deciding which route to take)
