Card Set Information
areas acct types
Areas of Accounting
Used to provide information and analyses to MG w/in the orgz to assist them in D-M
What are the functions of managerial accounting for MG?
Measuring and reporting costs
of production, marketing, and other functions
-Preparing budgets (
-Checking whether or not units stay w/in their budgets (
-Designing strategies to
CERTIFIED MANAGEMENT ACCOUNTANT
Professional accountant who has met certain educational and experience requirements, passed a qualifying exam in the field, and been certified by the Institute of Certified Management Accts
Why is Managerial Acct important?
-Growing emphasis on global competition, outsourcing, and orgz cost-cutting
Accounting information and analyses prepared for people
the orgz, but also seen by ppl w/in (company owners, MG, EE)
Who are the primary users of financial accounting information?
-Creditors and lenders
ANNUAL REPORT (FA)
Yearly statement of financial condition, progress, and expectancies of an orgz
What does the annual report do?
Answer questions to interested ppl outside of the orgz, such as stakeholders
1) Is the orgz profitable?
2) Is orgz able to pay bills?
3) How much debt does the orgz hold?