Chap1MAF3ePartI

Chap1MAF3ePartI - Financial and Managerial Accounting...

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Financial and Managerial Accounting Chapter 1 – Part I McGraw-Hill/Irwin
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Identifies Records Communicates Relevant Reliable Comparable Importance of Accounting Accounting is a system that information that is to help users make better decisions. 1-2
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Identifying Business Activities Recording Business Activities Communicating Business Activities Accounting Activities 1-3
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Users of Accounting Information External Users Lenders Shareholders Governments Consumer Groups External Auditors Customers Internal Users Managers Officers Internal Auditors Sales Staff Budget Officers Controllers 1-4
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Accounting Information for Specific Users External Users Financial accounting provides external users with financial statements. Internal Users Managerial accounting provides information needs for internal decision makers. 1-5
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Opportunities in Accounting Financial Preparation Analysis Auditing Regulatory Consulting Planning
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Chap1MAF3ePartI - Financial and Managerial Accounting...

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