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Measuring, classifying, analyzing, and communicating of financial information to help people inside and outside a company make good financial decisions
Concerned with preparing accounting information and analyses for managers and other decision makers inside an organization.
concerned with preparing accounting information and analyses primarily for people outside the organizations such as stock holders government agencies. prepare BS IS and statement of cash flows
Private accountants/ corporate accountants
- in house accountants working for a single organization
- CMA and CIA
Certified management accountants
pass a two day examination held by the Institute of management accountants that test their knowledge of managerial accounting and business
Certified Internal Auditor
bachelor's degree, two years of internal auditing experience, and passed examination given by the Institute of Internal Auditors.
- Providing accounting services to clients on a fee basis.
public accountants who audit, or review, client's financial information to see whether it was prepared under generally accepted accounting principles
CPA trained in tax law concentrates on preparing tax returns and doing tax planning
Management Advisory Services
specialized accounting services that CPAs offer business managers to resolve different kinds of problems
work for governments and nonprofit organizations. perform the same services as for profit accountants except they're concerned primarily with efficiency not profits.
Government Accountability Office
- the investigative arm of Congress charged with examine matters relating to the receipt and payment of public funds.
- Create national and federal research and development agenda for improving cybersecurity
Investigate suspected crimes within the field of finance. Accountant Detectives
- Make sure financial statements are relevant, reliable, consistent, and comparable.
- Legal authority rests with SEC and FASB
Securities and Exchange Commission SEC
federal agency regulates the various stock exchanges
Financial Accounting Standards Board
private, self regulating organization that establishes evaluates, and enforces the principles used in financial accounting.
record book or part of a computer program containing the daily record of the firm's transactions
double entry bookkeeping
format for recording each journal entry
book keeper does accuracy check
reports show where money came from and where is it now
assets=Liabilites + Owner's equity
shows how firm is doing by listing assets liabilities and owner's equity