Financial Accounting

Topics: International Financial Reporting Standards, Financial statements, Income statement Pages: 3 (789 words) Published: June 3, 2014
1.Business
United Small Business Telecom (USB Telecom) is a telecom company that offers mobile services to medium businesses. This company develops products to help small business owners in their day to day activities; the applications will enable them to do their business efficiently with speed, and reliability. Mobile consumers have grown enormously and most of the business is done via mobile and its going to expand heavily in future. USBT customers will be able to report any service outage issues or create repair tickets for their equipment or request information. USBT caters mainly to mobile consumers. This company has a native application that customers have to download on their mobile or tablet and can use it instantly wherever they are and get faster service response. The company consists of vendors who manufacture mobile devices, employees who are developing software native application that customers have to subscribe and download the app, and actual consumers of its service. The company has around 300 small business customers and 500 employees who develop various interface systems, native applications and services required for customers. It has a yearly revenue of 200$ billion.

Principal Members
Lalitha Battina: Founder, CEO
Mark Gates: Chief Technology Officer, CTO
Lowell Stratton: Chief Financial Officer, CFO, responsible for financial checks and balances And verifies financial statements produced by accounting department Simone Jobs: Chief Operating Officer, COO

Cyrus Bailey: Chief Marketing Officer, CMO
Board of Directors: Steve Wells, Tim McCarthy, David Holmes, Sonia Dietz, Joan DeCath, Kim Horner, John Stewart Angel Fund Investors: Golden Seeds, Who it Helps
USBT Accounts
1) Equipment and Licenses: This category covers equipment, building lease payments, annual depreciation for equipment purchased.

2) Recurring Expenses – Contracted: This category includes telecom contracts (voice, mobile, data), managed...
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