This website uses cookies to ensure you have the best experience. Learn more

None Essay

639 words - 3 pages

Basic Accounting Principles and Concepts
Accounting is called the language of business that which communicates the financial condition and performance of a business to interested users, also referred to as stakeholders.
 
In order to become effective in carrying out the accounting procedure, as well as in communicating the financial information of the business, there is a widely accepted set of rules, concepts and principles that governs the application of the accounting procedures, and it is referred to as the Generally Accepted Accounting Principles or GAAP.
 
In this article, you will learn and familiarize yourself with the accounting principles and accounting concepts relevant in ...view middle of the document...

Thus, any non-financial or non-monetary information that cannot be measured in a monetary unit are not recorded in the accounting books, but instead, a memorandum will be used.
4. Historical Cost
All business resources acquired should be valued and recorded based on the actual cash equivalent or original cost of acquisition, not the prevailing market value or future value. Exception to the rule is when the business is in the process of closure and liquidation.
5. Matching
This principle requires that revenue recorded, in a given accounting period, should have an equivalent expense recorded, in order to show the true profit of the business.
6. Accounting Period
This principle entails a business to complete the whole accounting process of a business over a specific operating time period. It may be monthly, quarterly or annually. For annual accounting period, it may follow a Calendar or Fiscal Year.
7. Conservatism
This principle states that given two options in the valuation of business transactions, the amount recorded should be the lower rather than the higher value.
8....

Other Papers Like None

None Essay

7387 words - 30 pages PROBLEMS: Standard setting Raw Materials . Shampoo Company is a chemical manufacturer that supplies industrial users. The company plans to introduce a new chemical solution and needs to develop a standard product cost for this new solution. The new chemical solution is made by combining a chemical compound (Nyclyn) and a solution (Salex), boiling the mixture; adding a second compound (Protet), and bottling the resulting solution in 20

None Essay

305 words - 2 pages Of the 3 options provided, I would choose to implement Anderson’s key account program for several reasons: 1. It will help align employee compensation with overall corporate profit objectives. CSC managers are currently compensated based on their CSCs profit performance. This gives managers the incentives to employ their own CSC consultants on projects from the region, regardless if there are better-suited ENSR consultants working under

None

1154 words - 5 pages The term “Bully” is defined as a form of aggressive behavior manifested by the use of force or coercion to affect others (Citation?). It comes in different styles and degrees. It can happen during many stages of life and between cultures, sexes, and the list goes on. It occurs due to sexuality, size, color, creed and religion. It is in our schools, colleges, Universities and workplaces. I guess we can say the Bullying is not discriminatory

None - 4145 words

4145 words - 17 pages What is shared parental leave and why it is being introduced? Shared parental leave is a new way for parents to share statutory leave and pay on the birth of a child. It replaces the current additional paternity leave regime. However, it is separate from the right to unpaid parental leave and does not replace the current maternity leave and pay regime. Similar rights apply to adoptions. The intended parents in a surrogacy arrangement are also

None - 4002 words

4002 words - 17 pages CHAPTER 4 Leadership Behaviors, Attitudes, and Styles The purpose of this chapter is to provide the reader with an understanding of basic leadership behavior and attitudes, as well as styles. Some of the information goes back to classic studies conducted in the 1950s and 1960s, and some is recent. Several other topics are featured: servant leadership, and how leaders use 360-degree feedback to fine-tune their behaviors, entrepreneurial

None - 567 words

567 words - 3 pages Personal Reflection #2 By: Taylor Mollon Should humans resurrect extinct species through de-extinction science? In my opinion this depends on many things. Will the species be able to coincide with current species? Where will these species live? Can this species be a danger to another species whether it be us as humans or any other species? Will the species be able to adapt to our current world? Lastly will it be able to reproduce

Slim to None Diet

945 words - 4 pages Slim to None Jessica Sommerville Self-image is a huge part of our daily lives. The way we perceive ourselves reflects our emotions and actions towards others but more prominently, in most people’s lives, is the way others see us. Society has cornered us into believing that the people we see on T.V, celebrities etc. are the pure staples of how men and women are supposed to look. As time has progressed, not only has technology advanced, but so

None at This Point

828 words - 4 pages | | | Meena Durairaj | [ International Labor Standards] | | Summary This paper focuses on the International Labour Organization (ILO) responsible for drawing up and overseeing international labour standards. History of international labour standards The International Labour Organization (ILO) was founded in 1919 as part of the Treaty of Versailles that ended World War I. the ILO was created as a branch of the League of Nations

None at This Time

1611 words - 7 pages Legal Analysis & Writing II Arderlius Boan Exercise IV Contracts Subject: Option Contract & Assignment -------------------------------------------------------------------------------------------------------------------------------- BUYER vs. SELLER: For Breach of Contract (1) What are buyer's rights against seller and what remedies, if any, are available to

I Have None

599 words - 3 pages Exercise 1 (25 points) a) You need some money today and the only friend you have that has any is your ‘miserly’ friend. He agrees to loan you the money you need, if you make payments of €20 a month for the next six month. In keeping with his reputation, he requires that the first payment be paid today. He also charges you 1.5 percent interest per month. How much money are you borrowing? b) You borrow €149,000 to buy a house

A Biography On John Lawrence Wargrave From Agatha Christie's And Then There Were None

588 words - 3 pages Lawrence John Wargrave, sane... or insane? Many people would think Wargrave, "the hanging judge." (Christie 262) as insane, but the truth is he was perfectly sane. His choices were made thinking they were logical, though some weren't. His age and occupation was affecting his judgment and he thought of himself as the only one who could inflict justice to those outside laws reach. He chose his ten victims by talking to people, and asking the right

Related Essays

None Essay 558 Words

558 words - 3 pages consumers may qualify for an “Independent Foreclosure Review” (2012). According to The Board of Governors of the Federal Reserve System, there is no cost for this review and the consumer might even be entitled to compensation. The deadline for submission of a consumer’s request was recently extended to July 31, 2012. I know people who are going through foreclosures and after contacting them regarding the possibility of a review, none of them had

None Essay 5555 Words

5555 words - 23 pages “Internal Use Only” data classification standard of Richman Investments. Write this report addressing which IT infrastructure domains are affected by the standard and how they are affected. In your report, mention at least three IT infrastructure domains affected by the “Internal Use Only” data classification standard. Your report will become part of an executive summary to senior management. Required Resources * None Submission

None Essay 473 Words

473 words - 2 pages Dunne, Kimberly A., Popp, Karen A., Franklin, Kathleen M., Levick, Richard. “The Top Five Tips Every Executive Needs to Know About Sarbanes-Oxley and Corporate Ethics.” Exec Blueprints (2008): Print. The authors are law experts from various law firms who share their insights into corporate ethics, as it relates to Sarbanes-Oxley. The article begins by detailing how the Sarbanes-Oxley legislation now holds top executives criminally

None Essay 262 Words

262 words - 2 pages A nurse is a healthcare professional, who in collaboration with other members of a health care team is responsible for the treatment, safety, and recovery of acutely or chronically ill individuals. Nurses are also accountable for the health promotion and maintenance of families, communities, populations, and the treatment of life-threatening emergencies in a wide range of health care settings. Nurses perform a range of clinical and non-clinical