MGMT 1 Chapter 17: Ch. 17
Document Summary
Accounting: recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and other interested parties the information they need to make good decisions. Processing: entries made into journals, effects of journal entries are transferred into ledgers. Managerial accounting: accounting used to provide information and analyses to managers inside organization to assist them in decision making. Certified management accountant: professional accountant who met certain educational and experience requirements, passed qualifying exam, and been certified by institute of certified. Financial accounting: accounting information and analyses prepared for people outside the organization. Annual report: yearly statement of the financial condition, progress, and expectations of organization. P(cid:396)i(cid:448)ate a(cid:272)(cid:272)ou(cid:374)ta(cid:374)t: a(cid:272)(cid:272)ou(cid:374)ta(cid:374)t (cid:449)ho (cid:449)o(cid:396)ks fo(cid:396) si(cid:374)gle fi(cid:396)(cid:373), go(cid:448)"t age(cid:374)(cid:272)(cid:455), o(cid:396) (cid:374)o(cid:374)profit organization. Public accountant: accountant who provides accounting services to individuals or businesses on fee basis. Certified public accountant (cpa): accountant who passes series of exams established by american institute of certified public accountants (aicpa)
