WGU C213 Accounting for Decision Makers Study Guide and Review Resource

Western Governors University D 072


WGU C213 Accounting for Decision Makers

, Accounting the recording of the day-to-day financial activities of a company and the
organization of that information into summary reports used to evaluate the
company's financial status


Bookkeeping the preservation of a systematic, quantitative record of an activity


accounting system used by a business to handle routine bookkeeping tasks and to structure the
information so it can be used to evaluate the performance and financial status of
the business




Accounting information Info that is intended to be useful in making decisions about the future.


The balance sheet, the income statement, and the What are the three primary financial statements?
statement of cashflows


External Users Who is financial accounting information primarily prepared for and used by?


Managerial Accounting the name given to accounting systems designed for internal users


Balance Sheet Reports a company's assets, liabilities, and owners' equity


Income Statement reports the amount of net income earned by a company during a period