THE ROLES OF ACCOUNTING ON BUSINESS AND OUR SOCIETY By QUINISIA HILL-WILSON MARCH 4‚ 2014 ACC 100 MR. TIMOTHY CARR STRAYER UNIVERSITY WINTER 2014 1. Describe the purpose of each financial statement. Determine which one (1) is the most effective in communicating the financial health of an organization. Defend your position. Income Statement presents revenues and expenses and resulting net income or net loss for a specific time period. Owner’s Equity Statement is a summary
Premium Certified Public Accountant Balance sheet
CHAPTER 1: ACCOUNTING AND THE BUSINESS ENVIRONMENT Objective 1 - Use accounting vocabulary. Accounting is a system that measures business activities‚ processes that information into reports‚ and communicates the results to decision-makers. There are many users of accounting information. Individuals use accounting information to make decisions about purchases and investments and to manage their bank accounts. Businesses use accounting information to set goals for their businesses and to evaluate
Premium Generally Accepted Accounting Principles Balance sheet Double-entry bookkeeping system
Accounting Information System(AIS) - is a structure that a business uses to collect‚ store‚ manage‚ process‚ retrieve and report its financial data so that it can be used by accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers (CFOs)‚ auditors and regulatory and tax agencies. Components of AIS a. People - the system users - professionals who may need to use an organization’s AIS include accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers
Premium Computer Management Computer program
evaluation process‚ I have also referred to some academic text and books for some guidance on accounting and business techniques. All data that I gathered for this research and analysis project are secondary data. I have categorised the sources of these data into two categories‚ which is books and internets. Books There are some books that I referred for some guidance on accounting and business techniques which I have used in the analysis and evaluation process. Some of the books are borrowed
Premium Research Gather Data
BUSINESS ACCOUNTING (GBB/GCB 1013) SEMESTER JANUARY 2013 TITLE: ___________________________________________ LECTURER: HEZLINA BT M HASHIM GROUP MEMBERS: No. | Name | Student ID | 1 | | | 2 | | | 3 | | | 4 | | | 5 | | | DATE RECEIVED: __________________________ INTRODUCTION: Charitable organizations are NGOs whose purpose of existence is to benefit the public. The mission of a charitable non-profit expresses the particular way in which the organization will fulfil its public benefit
Premium Balance sheet Charitable organization
|[pic] | | Question 1: Accounting concepts A. The owner of Computer World‚ Heath is confused about the depreciation expense for building in the income statement and the carrying amount in the balance sheet‚ and would like you to explain the following to him: i) Why is depreciation expense recoded in the income statement for the building as
Premium Generally Accepted Accounting Principles Balance sheet Asset
Recommendations & Conclusions We had looked at all the characteristic of the business environment together with the market segment of Indonesia. We studied the marketing mix such as product‚ pricing‚ placement and promotion. These are the recommendations and conclusions that we have conclude in our proposal. Java is the most populous and the most developed island in the Indonesian archipelago. The island is politically divided into the provinces of West Java‚ East Java and Central Java. The
Premium Indonesia Southeast Asia
Conclusion Managers in the 21st century are encountering extremely significant challenges in their process of management in an organisation such as hiring and keeping the right employee‚ building a strategic mindset‚ crafting an innovative culture and organisation‚ developing system thinking and also getting rid of short term mentality. An organisation will need to have a caliber HR manager in order to own a team of committed employees. It is HR managers’ responsibility to make sure
Premium Strategic management Management Goal
Explaining Basic Accounting Concepts and Business Structures To understand accounting there are several key concepts and terms to be familiar with. One must know where Generally Accepted Accounting Principles came from as well as how businesses form. Sources of Generally Accepted Accounting Principles The Securities and Exchange Commission (SEC)‚ American Institute of Certified Public Accountants (AICPA)‚ Financial Accounting Standards Board (FASB)‚ and the Government Accounting Standards Board
Premium Financial Accounting Standards Board Decision making
Explaining Basic Accounting Concepts and Business Structures Laurie D. Melvin ACC/537 – Financial Accounting May 9‚ 2011 James Neuner‚ MBA One of the most important decisions to make when one chooses to start a business is knowing the type of legal organizations to select because the decision affects many aspects of the business. What can be affected are the amount and type of paperwork required‚ tax payments‚ possible personal liability
Premium Corporation Limited liability company Types of business entity