Professional Documents
Culture Documents
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Economic Activities
Accounting links decision makers with economic activities and with the results of their decisions.
Accounting Information
Actions (decisions)
Decision Makers
Financial
Tax
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Accounting Systems
An accounting system consists of the personnel, procedures, technology, and records used by an organization to develop accounting information and to communicate this information to decision makers.
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Information System
Information Users Investors Creditors Managers Owners Customers Employees Regulators -SEC -IRS -FTC
Decisions Supported Performance evaluations Stock investments Tax strategies Labor relations Resource allocations Lending decisions Borrowing
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Provide information useful in assessing amount, timing and uncertainty of future cash flows.
Historical in Nature
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V.P Ethics
Plant Managers
Plant Managers
Controller
Treasurer
Plant Accountants
Plant Accountants
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Institutional Features
Generally Accepted Accounting Principles (_____) Financial Accounting Standards Board International Accounting Standards Board Securities and Exchange Commission Public Company Accounting Oversight Board Audits of Financial Statements Legislation
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Professional Organizations
American Institute of Certified Public Accountants Institute of Management Accountants Institute of Internal Auditors American Accounting Association Committee of Sponsoring Organizations of the Treadway Commission (COSO)
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Careers in Accounting
Public Accounting Management Accounting Governmental Accounting Accounting Education
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Professional accountants are involved more with the interpretation and use of accounting information than with its actual preparation.
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