Management Accounting Notes

• Faculty of Law and Business
• Murdoch Business School
• MBS513 - Mangement Accoutning

Resource Sample

Chapter 1 Introduction to Accounting The process of accounting assists users in the allocation of this scarce resource (money Accounting: Identifies business transactions an event that affects the financial position of a business that can be measured and recorded ie wages measuring of information analysis, recording and classifying of business transactions (an exchange of something of value between 2 or more entities it affects assets, liabilities and equity. Can be reliably measured and recorded) The communication of relevant information (makes a difference to decision making) through accounting reports in an aim to aide decision making Decision making used for a range of decisions by external and internal users Book Keeping: recording and summarising of financial transactions and the preperation of basic financial statements (part of the accounting process Accountin...

Resource Topics

• Accountancy
• Balance sheet
• Book value
• Business
• Cash flow statement
• Finance
• Financial ratio
• Generally Accepted Accounting Principles
• Historical cost
• Income statement
• International Financial Reporting Standards
• Labor
• Law
• Operating cash flow
• Social Issues
• Technology
• War
• Working capital

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