Essays on Balance

Business finance and accounting is central to any business operation. While business finance provides the center for operation and management, accounting simply provides an historical background of the performance. Organizations rely on different methods of business finance and accounting to manage their business. However, most of financial reporting largely depends on the classification of the business as defined by its formation and its operations. The classification of business includes corporate, partnership, sole proprietorship, governmental organization or Nongovernmental organization commonly referred to as NGOs. All these operations rely on the balance sheet to indicate the present state of the organization ...

The Maastricht Treaty launched the European Monetary Union in the year 1992. The union comprised of two parts, which included the creation of euro the common currency and creation of the European Central Bank, which coordinates all monetary policies in the Eurozone. The treaty also created the rules for countries willing to join the union. The other element of the treaty was the national central banks of the 16 member countries. European Monetary Union creation has led to price stability and proper management of public finances (McKay Volz & Wolfinger 2011).The final phase of the single currency introduction was ...

English

Introduction New Balance is a privately held athletic footwear and apparel manufacturer in the US. Based in Boston, New Balance was founded in 1906, and is the only major company manufacturing its products in the US and labeling them as “Made in the USA.” The company has 200 stores across the globe and operates through five factories in the US and one in UK. The company is private and is not obliged to commit towards its employees or the society as a whole. But that is not the case. The best demonstration of commitment was during the recession of ...

The concept of the secular saint is continually given meaning as part of an ongoing and wide-ranging philosophical and academic debate. The secular saint is defined by the degree to which he, or she, participates in the debate that shapes meaning and identity. To truly embody the qualities of the secular saint and live a life of meaning, it is important to maintain balance within oneself, to keep in harmony those aspects of the spiritual and secular that give one direction and purpose. By striving to maintain balance, the secular saint creates meaning in life. Some of the greatest philosophers and theologians in history, ranging from Plato to Ernest Becker, have contemplated and given form to this debate.

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Balance Score Card

Ladies and gentlemen, I would like to take this opportunity to discuss with you about the Balanced score card. This paper shall analyse the balance score card approach as used in technology companies. The paper shall also present a coherent and comprehensive comparison between the balance score card approach and the other traditional approaches that were used before. .

The balance score card.

There is no universally accepted definition for a balance score card. The term balance score card means a different thing to different people. However, for the sake of this discussion, the term balance score card is defined as a strategic management ...

Question 1

The United States' economy is ranked as one of the most globalized economies around the world. Improved technology has positively contributed to the globalization of the US economy with the penetration of multinational companies in foreign countries around the globe. Apart from technology, there are numerous factors that have positively contributed to United States' globalization. For instance, favorable social and economic factors have an upper hand in facilitating globalization in the region. Globalization has been characterized by both positive and negative effects. In the United States, globalization has improved economic activities with neighboring countries leading to economic development. The ...

Abstract

The paper articulates the electrolyte and fluid study by describing functions and location of various body fluids and factors that affects variations in fluid compartments. These body fluids involves Body fluids involve blood plasma, mucus and lymphatic fluid, saliva and gastric juice, and other fluids such as tears, sweat, semen and vaginal secretions. The functions, regulation, sources and losses of the main electrolytes in the body are also described. The paper also outlines the basic principles of some of the processes that occur in human body such as osmosis, filtration, active transport and diffusion. In order to understand electrolyte ...

1. Informal Networks Atkinson & Moffat (2005) describes informal networks as a relationship between colleagues that develops after the realization of the gains derivable from such a network. Informal networks keep employees connected in a context that is only well understood among them (members of the same network). As opposed to formal networks which are regulative, informative-instructive, or integrative or innovative, informal networks are inherently are known to change with time (Anderson, Ones, Sinangil, & Viswesvaran, 2001). Research has shown that these networks are less innovative and are by all means not regulative.

Conventionally, the presence of informal networks has always ...

The Return of Depression Economics and the Crisis of 2008

The Return of Depression Economics and the Crisis of 2008 is an economics book that was written by Paul Krugman. The book is an analysis of the 2008 financial crisis that followed an economic downturn amid huge economic activity in the financial sector of many economies including that of the United States of America. The book further follows and traces integration of the unfavorable economic conditions into the financial crisis experienced in the year 2008. In addition, Paul Krugman considers the parameters that characterize a relationship in ...

Venezuela is a Latin American country whose one of the main exports is oil. It has rich oil deposits which make a great contribution of to the national income through exports. This oil trade accounts for the largest share of the Venezuela’s exports from the industrial sector. The industrial exports in turn contribute about 60% of the total gross national income. Oil thus forms one of the basic economic generators or foreign exchange earners (Weisbrot, 2). A review of the Venezuelan economic development reveals that the economy has grown by over 94% of the anticipated rate. Though this ...

Introduction

Capital structure management is a crucial aspect of effective cost control. That is because the structure determines a company’s cost, hence determining its performance and ability to create wealth for its shareholders. In that view, this analysis seeks to demonstrate how the structures influence companies’ performance as well as decision making. To achieve that, the analysis evaluates three companies in Hospitality industry. In that respect, this report begins with an overview of the companies’ debt structure and how it influences the companies’ cost of capital. That is followed by overview of how the companies’ long term financing polices ...

Its Impact on the Financial Position and Performance of Australian Companies

Abstract Lease Accounting is an area which currently has different practices proposed in IFRS and US GAAP. Even lease accounting practices are not interpreted in the same way by different companies within IFRS. This causes confusion for the investors as due to different interpretation by different companies leases are accounted for differently in the annual report and accounting books. This causes problem for regulators, government and investors to judge and rate companies uniformly. As an effort to consolidate and bridge the current gaps, IFRS and US GAAP have come up with Exposure Draft –ED 202. There are some sweeping ...

- Introduction: Equal opportunity employment has always been an important topic and concern of multiple organizations and several initiatives in this regard has been taken by United States governments that were applied on different organizations. After the implementation of these laws benefits were encountered in the term of productivity of businesses and increased efficiencies, effectiveness, and capabilities of employees (Mathis, & Jackson, 2011). The objective of this paper is to shed light on the topic of “Equal opportunity employment” . This paper has been divided into 8 sections. The first section describes the concept whereas the second describes the formulation of ...

All rights reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030- 5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions.

Printed in the United States of America.

ISBN 978-0-470-87479-0 Annual Report Project The ...

All rights reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030- 5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/go/permissions.

Printed in the United States of America.

ISBN 978-0-470-87479-0 Annual Report Project The ...

Balance sheet

Balance sheet can be defined as a financial statement which shows the financial position of a business as at a particular time. It has two parts one of them shows all the assets that the company owns and the other side shows the liabilities as well as the shareholder’s equity. (Barry J. & Epstein, E 78).A balance sheet is always prepared as per a certain date. For instance, a balance sheet dated 31st December 2000, shows the financial position of the business for the year 2000.In simple terms, a balance sheet may be defined as a financial statement ...

What People Should Konw About

Credit cards are probably the best type of convenience that the financial world had offered to the people. It is most often regarded as the most valuable plastic material on earth because of its power to get anyone anything within the purchasing capacity of the credit card they own. However, credit card is not always as fantastic as they seem. There are certain things that people don't know about underneath the irresistibly high credit limits and zero interest rate offers. The fine prints at the back of every application forms are often neglected and people doesn't take ...

The National Basketball Association is a professional basketball league in North America (Yong-zhen 10). It is widely agreed that, in the world, the NBA league is the premier men’s professional league. NBA has thirty member clubs, of which twenty-nine are from the United States and one from Canada. Over the time, NBA has been an active member of the USA basketball (USAB), and is well recognized by the International Basketball Federation. FIBA recognizes the USA Basketball as basketball’s governing body in United States of America. Statistics show that players participating in NBA are the best paid sportsmen ...

- Balance sheet A balance sheet is a financial statement prepared by and organization’s financial department that summarizes the company’s liabilities, assets and the equity of the shareholders at a given point of time. These three components of a balance sheet give existing and potential investors a clue as to the financial position of the company, i.e. what it owes and it is owed. In the balance sheet, the assets are listed first in order of their liquidity. The liabilities then follow. The equity is the calculated as the difference between the assets and the liabilities. Another ...

Introduction

Work versus family life conflict starts to occur when there are demands that are incompatible between a person’s work and family life. These demands may include increased work load at both the sides. People may experience increase of work load at their workplace when they are asked to sit for extra hours which are taken from their time of family life. The workload increase at workplace has a pressure of career growth and good evaluation by the management due to which a person tries to cope up with the situation by spending extra hours at the workplace. Similarly, ...

Introduction

In the day of technological revolution when technology has enabled people to bring work home, the fine line between work and personal life has increasingly diminished. Highly sophisticated and easily affordable technologies "have made it more feasible for employees to keep contact with work" through emails, mobile phones and computers that transcend the physical boundaries of their workplace (Olson-Buchanan and Boswell, 2007). Workaholic employees who deem their professional growth as an important part of their identities are more prone to make use of these communication technologies by responding to work related emails or voice mails even after work-hours or ...

- I do believe that polar bears are endangered as a species. The main reason for this is that their number or population is decreasing drastically. Moreover there is a threat to their species itself due to global warming. Wildlife is an extremely important part of the ecology and crucial for the purpose of maintaining environmental balance. In case of there being human intervention it leads to a disruption in the environment and in wildlife. The main impact of global warming on the community and culture is that it is leading to health issues and higher levels of pollution. ...

During recent time you will get to see more and more companies coming up and creating huge competition in the market. The industry of the soft drinks is facing this problem in maximum. All of them need to compete to the extreme level for getting the highest market share in business along with an excellent volume of profit. Here comes the need of comparative financial analysis of the companies to understand the position in the market and the areas of improvement. In present scenario the two most prominent giant companies in the soft drinks industry are Coca Cola and Pepsi Co.

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Discuss the measures that a government can take to improve the balance of trade in the short- term

A depreciation in the value of currency exchange of a country should help boost oversees’ demand for U.S. exports because American firms will be able to supply more cheaply internationally (Keeler, 2007). A country can devalue its currency by a large margin in one or two installments in quick successions so that foreigners can find goods and services of a country cheaper to buy and boost exports rapidly.

Another method that a government can use to improve balance of trade over the short term is to reduce demand in the economy thereby reducing consumer spending in the economy. The ...

Benefits

A balance scorecard has a number of benefits to companies depending on a number of factors. Key among these factors is the use to which the balance score card has been put. A balance score card can be used in operational control and strategic management among other functions.

Used in enhancing the operational control

When used in enhancing the operational control function, the balance score card has several benefits which include increasing the effectiveness with which performance improvement initiatives are monitored; improving understanding of the processes in order to spearhead the process of setting and achieving the organization’s goals. The balance scorecard is very ...

Application of Erikson’s Post-Freudian Theory

Application of Erikson’s Post-Freudian Theory

Introduction

Erik Erikson’s’ views make significant contributions to the field of psychology; this is particularly in the understanding of personality development and related factors. An understanding of his own study of personal development creates an understanding of development of his psychology (Fleming, 2004). Most of Erikson’s psychology work became evident in the post-Freudian era. It was between the 1930s and 1950s; being one of Freud’s students, most of his work exhibit the influence of Freudian views and theories; this was mainly in the field of personality development. However, dissimilar from Freud’ ...

Aristotle’s Ethics

Happiness Aristotle in one of his most influential work, the Nicomachean Ethics, presented a theory of happiness 2300 years ago. In this theory they tried to answer a key question, which is, what was the ultimate purpose of human existence? What should be the end goal towards which we should be directing our energies? In his opinion, everyone is looking for “pleasure, wealth, and a good reputation”. In his opinion, while each of these has some value, neither of them can replace the relevance of chief good for which humanity should aim. The chief good or the ultimate aim ...

Classical Realism, or Traditional Realism (Waltz, 2003: 21), and Neorealism, or Structural Realism (Jakobsen, 2013), are “two of the major approaches” in the study of international politics (Waltz, 2003: 21). Robert Keohane (1986: 159) considers Classical Realism as the “central tradition” in the study of international politics, while Jo Jakobsen (2013) considered Neorealism as the “bedrock theory of International Relations.” Despite the efforts of their respective proponents to distinguish one theory from the other, commonalities between Classical Realism and Neorealism do occur. First, both would agree that changes in policymaking among states “happen” more than making it happen (Rynning, ...

Income Statement:

The income statement reports the revenue and expenses of the firm over a period of time. The income statement is sometimes refered to as the statement of operations or Profit and Loss Statement. The income statement relies on the equation:

In other words, Income Statement serves the purpose of providing the investors and other users of financial statements with most appropriate profitability of the entity net of expenses incurred by the company. In an elaborated manner, income statement helps an investor to assess as how the business has performed by giving a summary of how the business incurs its ...

Executive Summary

Company A and company B have very similar as well as very different financial statements. Both the companies are showing positive sales growth. While company A seems to be growing at a very high pace, company B is growing at a steady but slow pace. However, even upon growing at a higher pace company A’s profit has declined due to not being able to manage the input cost for production appropriately (cost of goods sold). On the other hand company B is also feeling the impact of the increasing input cost but it has managed it better than ...

Introduction

Norway has a mixed economy structure with government controlling the crucial sectors of the economy. The economy growth is majorly sustained by its natural resources. For a long time, the economy export had been supported by shipping. The key industries in the Norwegian economy are the petroleum and natural gas, food processing, textile, and shipping, among others. Norway’s currency is referred as the Norwegian Krone (NOK). Its current GDP stands at $499.98, and the GDP per capita is 53,293. The paper addresses the macroeconomic elements of the Norwegian economy, by looking into the present economic condition, as ...

Company Information

i) NAME OF COMPANY:

The company we are analyzing is Under Armour ii) INDUSTRY - What, specifically, does your company do:

The company is engaged in the business of sports clothing, accessories and is leading supplier of casual wear and sports wear. Company also engaged in footwear business in 2005.iii) What is the address of your firm? Under Armour is headquartered both in USA and Europe. In US, company is based in Maryland and in Europe the headquarters are based in Amsterdam. For Maryland headquarters following is the complete address of the company: 1020 Hull Street

Baltimore, Maryland 21230

iv) Does your firm have a web site? If so, what is the address? Attach a copy of the home ...

Conventional versus Islamic

Y M

Fin399-P

Dr. N E Abstract: The current paper relates financial analysis of commercial and Islamic banks in UAE. The aim of this paper is to evaluate financial performance of commercial and Islamic banks in UAE and make appropriate conclusions regarding comparative advantages and disadvantages of the two groups of the banks. The evaluation between commercial and Islamic banks was carried out with the help of financial analysis. Analysis of financial ratios was used as the main technique of financial analysis in this paper. There were four groups of financial ratios analyzed, namely: liquidity ratios, solvency ratios, profitability ratios, ...

Facilitator:

Role of work-life balance in management The environment at work may hinder or develop life of an individual depending on how the individual handles the whole complexity. Clancy & Tata (2005) argues that if the reaction to the work challenges is positive, life development becomes easy which enables individuals establish an ideal work-life balance. For managers, efficiency at work motivates desire to ensure that all activities of employees run as per plans. However, personal commitments ought to exist and compete for time with the employment roles. Such competition can never be desirable as it creates a state of divided loyalties ...

Personal Development Plan

Introduction I feel very fortunate to undertake this assignment. A Personal Development Plan (PDP) is a great tool that puts into context the things that I have to plan for to reach my goals in life. The internet resource Self Development Mentor (2012) explains that the PDP is a static document in that there will be things that would change for me that would shape my career beyond my current vision. According to the internet resource Effective Positive Thinking (2012), a PDP forces one to examine the goals and aspirations in a systematic, logical and realistic manner. With the ...

I chose my essay to be ‘an argument for making the death penalty mandatory for murders’ because it has been a dilemma in the society. There have been sections advocating for its abolishment and those for its reinforcement. However, statistics show that murder rates are increasing and break outs in prison increase due to advanced technology, hence there have been calls to make the death penalty for murder mandatory so as to rid offenders from the society and prevent the crime reoccurring. To make my essay stronger for the portfolio, I did revisions in the four sections of the ...

Should the death penalty be mandatory for people that kill other people?

The saying goes do unto others what you would have them do unto you. Therefore, the price for taking away life should cost the offender his or her life. Different kinds of punishment have been used to discourage criminals from unlawful actions, and the greater the criminal act the greater should be the punishment. The death penalty is a controversial issue and people base their arguments for or against death penalty on practical, emotional, religious or practical grounds. People in favor of the capital punishment argue that it improves peace in the society by ensuring that such people do not offend again, it is a just retribution and less expensive.

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GAAP and IFRS have some inherent differences in their approach towards valuation. One of the differences is seen in the valuation of intangible assets (Porter & Norton, 2011). Under the GAAP, intangible assets are valued at fair value. Unlike the GAAP, the IFRS recognizes the assets which will have future economic benefits as well as measured reliability. The other difference is seen in the valuation of inventory costs (Porter & Norton, 2011). The IFRS does not allow the Last-in, First-out (LIFO) approach towards the account of the costs associated with inventory. The GAAP allows the use of the First-in, First-out (FIFO) ...

An accounting cycle is defined as a process of identifying, collecting and analyzing financial transactions. The process of accounting cycle ends with the analysis of financial statements which includes income statement, balance sheet and cash flow. The process of accounting cycle is repeated during each reporting period. The entries are first posted to a journal and then posted to respective accounts. With the advent of accounting software, a lot of posting has been reduced and the double entries are managed by the software. The accuracy of the software reduces efforts of an accountant. The various steps of an accounting ...

Section 1 Part a: Name of company

The name of the company for this project is Dunkin Donuts. Part b: Industry The company is in the industry of franchising quick service restaurants (QSRs). Dunkin Donuts serves hot and cold coffee, baked goods and hard serve ice cream. The company focuses on menu innovation, marketing and franchisee coaching and support. Dunkin Donuts operates in four segments; Dunkin Donuts US, Baskin-Robbins International, Dunkin Donuts International and Baskin-Robbins US (Dunking Donuts Annual Report, 2012, p 1). To add onto this, Dunkin Donuts generates revenue from five main sources. The first source is royalties and fees from franchised restaurants while ...

Introduction

According to Khantipalo (1977), Buddhism cannot be explained without explain the 4 Noble Truths and the Eightfold Noble Path. The basics of Buddhism lie in these two philosophies by Buddha. The noble truths are that life means suffering, the suffering is due to attachment, suffering can be eliminated, and there is a specific path to cessation of suffering which lies in self improvement. Moreover, the Noble Eightfold Path consists of having right view, having right thought, having right speech, doing right actions, following right livelihood, doing right effort, having right mindfulness, and maintaining right concentration. According to Paonil and ...

Introduction

The currency of a nation is used as a medium of exchange and reference in all domestic financial transactions of a country. With globalisation and integration of economies, international business has become a common phenomenon. International business requires buying, selling and exchange of money between two nations. Since, economies across the world have their own currencies and value of each of these currencies vary at any given point in time, relative value of one currency with respect to another becomes an important aspect during international financial transactions. This has concerted international focus on the concept of ...

International Finance

A floating currency refers to a system of currency valuation where by the exchange rate of a country’s currency depends on the supply and demand of that currency relative to foreign currencies. Floating rates of exchange usually vary freely because they are determined by trade activities in the forex market. A floating system of currency valuation is the complete opposite of the fixed rate of exchange. The fixed rate of exchange regime is where by the rate of exchanging the currency in relation to other foreign currencies is set at a constant rate. Countries can either choose the ...

What causes differences between available balances and book balances?

Available balance refers to the cash balances that a firm has as the bank statements. This is the ending balance of a firm reflected on bank records of its bank. It represents the maximum amount a firm can withdraw without taking an overdraft. Book balance refers to the bank balance as per the firm’s books of account. Normally, the available balance and book balances do not agree for the reasons discussed below. The first reason is outstanding checks. Some checks received by a firm may have not ...

Introduction

Weighing is the process through which the mass of an object is determined by the use of a balance, for example the analytical balance. This balance is used for the purposes of measuring gravitational mass in the laboratory. Weight on the other is measured by the use of a spring balance. The analytical precision of using balances is to achieve accurate measurements of masses and weights in the lab so as to consequently achieve the desired results in the experiments being conducted.

Accurate Reading on an analytical Balance

The features of an electronic ...

Introductory section

- Does this material define the primary government? The document has defined the primary government in which the city operates under as the council manger form with six members who are elected for a four year term. - Does the introductory section discuss the government’s financial condition at the balance sheet date? The introduction briefly discusses the financial position of the government where it states that on a government wide basis, the city’s net assets grew by $19.6 million in that fiscal year which was generated by governmental activities it continues to state that the city’s ...

Introduction

I chose this image because it symbolizes important things that are slowly fading in this world such as the interrelationship between humanity and nature, the essence of beauty, and the significance of culture among others. All these symbols, combined with a minimalist use of color and elements, make the image so appealing to me. On a more emotional note, this particular image gives me a feeling of peace. It has a calming factor. Looking at it makes me feel at ease and sentimental thoughts tend to arise. Though not exactly the best or the most unique, this image stirs ...

Amongst the various sources of finance, like sale of financial instruments, or even borrowing loans from banks and other financial institutions, a very popular method is lease or lease financing, that is defined by the Leases Exposure Draft of the International Accounting Standards Board (IASB) & Financial Accounting Standards Board (FASB) as “a contract in which the right to control the use of a specified asset (the underlying asset) is conveyed to a customer, for a period of time (throughout the lease term), in exchange for some consideration (periodic rental payments), if the customer has the ability to direct ...

After the financial crisis which peaked in the year 2008, the United States economy has seen several changes. One of the changes has been on the international economic activities. There have been notable changes in the balance of trade and the international capital flows. During the financial crisis, the level of imports reduced at a faster rate compared to exports, this resulted in almost a surplus balance of payment.

However, with the crisis over, the imports for the United States have recovered significantly resulting in a high level of imports compared to exports. This has resulted in a deficit ...

In the hospitality industry, communication and participation of management and employees to consult with relevant stakeholders are crucial to sustaining the organization’s effective performance as instrumental to financial success. As explicitly defined, employee participation is disclosed as the “process of employee involvement designed to provide employees with the opportunity to influence and where appropriate, take part in decision making on matters that affect them” . Likewise, communication is the process by which management and employees send important messages regarding the products and services offered by organizations. The methods of communication are noted to entail downward and upward flows. Downward ...

Abstract

Presented in this report are the results and the discussion of results for static and dynamic balancing. Static and dynamic balancing of rotating element in a machine is very important. The report has shown that the disks may be statically balanced but dynamically unbalanced. In the second part of this experiment, the arrangement required to balance the rotating shaft dynamically was obtained. The observations and results obtained in this experiment were consistent with our expectations. The second part of the experiment-involved determination of parameters needed to balance shaft and dynamically. The parameters determined in this case in order to ...

Summary

This particular section sheds light on the measures used to assess the quality of financial reporting. The framework looks at a company's risk and success factors. The quality of the analysis depends on the inputs put into it. In addition, the quality of the measures used to assess financial reporting varies between companies, and can also be different for a single company for a period of time. Measures that are based on inventory suit retail businesses, measures that are based on depreciation suit capital intensive companies, and measures that are based on off balance sheet reporting are best suited ...

Lesson 1- Overview

Lesson 2 -Financial Accounting Basics and Income Statements Lesson 3- Balance Sheets and Cash Flow

Overview

- Health care finance versus business finance It is important to study health care fiancé exclusively because health care conducts financial transactions, which are different from a normal business. Health care finance embraces a series of reimbursement protocols which do not exist in a non-health care business entity. Precisely, health care business is subsidized either by the state or through health insurance coverage. With business financing the capital structure is different, which is the way the organization finances its assets. For example, in health ...

Introduction

Companies today face the challenge of measuring their performance appraisal since managers want to make sure that they are following the strategic objectives that have been set for te company in a particular time period (Stimpson, 2002). One of the tools that have become increasingly popular to measure performance is a balance scorecard. It is a management system and a strategic planning tool which helps different companies like hospitals, hotels, nonprofit organizations to match their business activities with their vision and strategies, assists in monitoring the company’s performance against its goals and helps to evaluate the internal and ...

There are several objectives that guide the setting up of these standards. Below is brief discussion on the importance of accounting standards and especially in the New Zealand context. These include: Accounting standards usually set the minimum level of disclosure of financial information. This ensures that all interested parties and stakeholders are adequately informed of the financial happenings in a company. Well prepared financial statements will serve all stakeholders and thus they will be able to make informed choices guided by the financial statements. These standards remove variations that may arise in the treatment of several aspects of accounting. ...

Task

Introduction Accounting is a very important subject both to the followers of the profession and also to all institutions that carry on business. For any financial statements to make sense they must be prepared in a standardized manner, allowing for quick comparison between the financials of a company in different periods, the company and other players in the industry, a company in different countries etc. This requires the adoption of standards that will allow for this to be possible. The International Accounting Standards Board prepares and issues the International Financial Reporting Standards (IFRS) that have been widely adopted by ...

Artemis and the Sanctity of Balance

The Feminine Divine: Artemis and the Sanctity of Balance

Artemis is a divine representation of nature’s primal force and its capacity for self-preservation. Her archetype is, as Ginette Paris has said, connected to global ecology through the cycle of life and death, and of sacrifice in the sense that death itself plays a necessary role in maintaining the natural equilibrium (Paris, 2009). A feminist goddess, she is suppliant to women in childbirth in which she holds power over life and death. Through Artemis’ intervention, as Paris asserts, abortion becomes a sacred act ...

Answer 1)

Recording of transactions of financial nature is the basic/core objective of the accounting world. All the transactions which are of financial nature, either, transacted fully or partly are recorded in sequential way. Before preparing some rough drafts of any additional transactions, The official initial step of Book Keeping is to record all the transactions in journal, as and when they occur, following rules of debit and credit.

After posting these entries into journal, they are the then posted into different accounts of ledger. Objective of preparing ledger is to group similar transactions into one book and ascertaining ...

The Generally Accepted Accounting Principles – GAAP and International Financial Reporting Standards – IFRS are the set of standards used in various countries. GAAP is generally followed in the US while the IFRS was established in 2001 and is used in most countries around the world for financial reporting. GAAP is mainly based on rules while IFRS mainly relies on principles. Albeit the functioning philosophy and viewpoint behind both GAAP and IFRS is quite similar there are several key differences which are explained in this paper. The first difference is with respect to inventory costing as the LIFO or Last in ...

Introduction

A balance sheet is a financial document that gives a summary of the company’s assets, liabilities and shareholders’ equity for a specified period of time. It is used by investors to gauge the financial health of companies. Most companies use financial software and applications to prepare balance sheet. However, it is also possible to prepare balance sheet in Microsoft Excel. Definition This is a manual for making balance sheet in Microsoft Excel 2007. The Manual contains procedures used to develop a fully functional balance sheet template based on specific financial items.

The balance sheet is automated by the ...