BUSED 101 Chapter 8: Chapter 8
7 Oct 2016
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Document Summary
All around the world is the same for easy comparison. Used by managers, stockholders, employees, creditors, suppliers, government agencies. Work within a company and provide analysis, prepare reports and financial statements, and assists managers. Perform accounting functions for local, state, or federal government agencies. Prepares financial statements for use by owners. Reports the financial position of a firm by identifying and reporting the value of firm"s. Liabilities: claims that outsiders have against firm"s assets. Owner"s equity: claims a firm"s owners have against their. Net income: difference between revenue and expenses in a given period of time. Horizontal analysis: compares account values reported on statements over two or more years to identify changes and trends. How will a firm acquire and allocate the resources to achieve goals. Encourages communication and coordination among managers and employees. Out-of-pocket: direct payment of money for resources. Direct: incurred directly as a result of specific cost object.
