CONTENTS

INTRODUCTION AND
OVERVIEW
USERS OF BUSINESS INFORMATION..................................
FINANCIAL & MANAGERIAL ACCOUNTING.........................
COURSE FORMAT..............................................................

ET 0.5 h

USERS OF BUSINESS INFORMATION

Users of accounting information include:
Managers
Employees
Lenders
Suppliers
Investors (Stockholders)
Directors
Regulators and Tax Agencies
Investment Analysts and Brokers
Auditors

Introduction
and Overview
2

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FINANCIAL & MANAGERIAL

ACCOUNTING
Two aspects of accounting:
Financial accounting external focus
Managerial accounting internal focus

Orientation
Example
Users
Emphasis

Guidelines

Introduction
and Overview
3

Financial

Managerial

Outside the entity

Bankers
Stockholders
Regulators
Labor Unions
Solvency
Liquidity
Profitability

Inside the entity

Managers
Employees
Internal Auditors

Generally
Accepted
Accounting
Principles

Pricing
Cost control
Efficiency
Planning
Performance
Internal
requirements of
management

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COURSE FORMAT
PART 1

FINANCIAL ACCOUNTING

General Topics
GAAP Formation
Financial Statements
Transactions and Accruals

Assets
Accounts Receivable
Inventories
Long Term Assets

Equities
Lenders Equity - Liabilities
Stockholders Equity

Special Topics
Financial Analysis
Income and Inflation
Taxes

PART 2

MANAGERIAL ACCOUNTING

Decisions Using Costs

Cost Behavior
Cost-Volume-Profit
Relevant Costs
Job Order and Process Costing
Allocating Indirect Costs

Managerial Planning
Pricing
Budgeting

Introduction
and Overview
4

WPasewark 2017