ACIS Exam Review - ACIS Exam Review Accounting Information...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
ACIS Exam Review Accounting : Information for economic decision making. Financial Accounting : Information for INVESTOR decision making in accountability situations. Decision Making: Diagram 3 Types of Business Organizations: 1. Sole Proprietorship – owned by a single individual. 2. Partnership – Owned by 2 or more individuals. Both responsible for losses. 3. Corporation – a separate legal entity created by the authority of a state government. Each state has separate laws concerning them. Limited liability for stockholders. Continuous life. Easily transferable ownership rights. Ability to raise capital is easy. Some disadvantages include government regulation and corporate double taxation. Corporate Management Structure:
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2 Types of Accounting Information: Financial : Focused on needs of external investors. Managerial : Focused on the needs of internal managers. Financial accounting provides information that is used in the market to answer questions about resource allocation. i.e. should I invest in IBM?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern