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Measuring
Communicating
Decision Making
Account
Business transactions
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Duties/Responsibilities
Prepare financial reports.
Supervise activities of the bookkeeper.
Prepare and send invoices to debtors.
Assist in the preparation of budgets.
Update and manage the accounting system
for the entity.
Calculate and distribute wages and salaries.
Print financial report and debtor listings.
Establish fund management arrangement
with banks.
Provide assistance to management in
setting prices.
Hi
Hello
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Financial Accounting
Management
Accounting
Regulations
Timeliness
Level of Detail
Main users
Conceptual Framework
Qualitative Characteristics of Financial Information
Relevance (what about
materiality?)
Faithful representation
Comparability
Verifiability
Understandability
Historical Information
Subjectivity of information
Potential Costs of Providing Accounting Information
Information costs
Release of competitive information
Define the following terms:
Assets
Liabilities
Equity
Income
Expenses