WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT

WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT bookkeeping - day to day keeping of transcations steps of decision making - identify issue gather information identify alternatives select option that most likely results in desired objective accounting - analysis of events record and report financial effects of business activities where does capital come from (3) - investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting - financial and managerial managerial accounting - gather and analysis of information for internal use and decision making. financial accounting - gather, report, analysis of information for external users- investors and creditors. summary of a business what does managerial accounting review - product cost, breakeven analysis, budgeting, performance analysis, outsource production what does financial accounting review - credit analysis, financial health, estimate value of the company examples of external financial reports for financial accounting - annual report, financial statement, balance sheet, income statement, statement of cash flow balance sheet - reports assets and liabilities. basic. list as of a point in time. as of today, as of yesterday income statement - how much did you ,ake period of time - from nov to jan statement of cash flow - where did the cash come from and where did the cash go period of time - from nov to jan lender - lends money with intend to get it back plus interest. need current income, existing obligations, existing assets, payroll stub, tax return, monthly payments, bank stmts