Billing for goods sold or services provided to clients. Recording receipts from customers. Verifying and recording invoices from suppliers. Paying suppliers. Processing employees’ pay and the related governmental reports. Monitoring individual accounts receivable. Recording depreciation and other adjusting entries. Objectives of accounting Permanent Record Any business firm needs a permanent record of the transactions that it indulges in. These records could be vital for internal purpose
Premium Management Business Bookkeeping
issues. Q15-4. In a contribution income statement‚ costs are classified according to behavior as variable or fixed‚ and the contribution margin (the difference between total revenues and total variable costs) that goes toward covering fixed costs and providing a profit is emphasized. In a functional income statement‚ costs are classified according to function (rather than behavior)‚ such as manufacturing and selling and administrative. This is the type of income statement typically included in corporate
Premium Variable cost Costs Contribution margin
In the past half-decade‚ income inequality has increased significantly in Western Australia. As shown in Figure 3‚ that if Western Australia were a country it would be as unequal as Portugal (although much richer)‚ and slightly less unequal than the United States (US). On the other
Premium Economics Unemployment Inflation
of Kenya Ministry of Justice‚ National Cohesion and Constitutional Affairs NATIONAL COHESION AND INTEGRATION POLICY January 2012 Table of Contents Abbreviations and Acronyms 1 1 Preamble 2 1.1 Background 2 1.2 Rationale for National Cohesion and Integration Policy 3 1.3 Defining National Cohesion and Integration 4 1.4 Dimensions of National Cohesion and Integration 5 1.5 Formulating the National Cohesion and Integration Policy
Premium Millennium Development Goals Poverty Sociology
After doing this assignment I realized some of the reason that low-income families do what they do. It is very hard for a family to live off of a minimum wage salary; it doesn’t matter if it is a single parent or a two-parent household. The more people are in a household‚ the more expenses there will be‚ I never really thought about that concept until doing this assignment. Something’s that some people might take for granted can actually be a luxury to others. A car for example‚ I never realized
Premium Bus stop Train station Public transport
Presentation of Comprehensive Income By: Logan Bell October 3‚ 2012 The Accounting Standards Update (ASU) 2011-05‚ Comprehensive Income: Presentation of Comprehensive Income was issued to increase the importance of items reported in other comprehensive income. The FASB‚ along with IASB‚ worked jointly to improve and converge the reporting and presentation requirements for items contained in other comprehensive income. At the same time FASB issued ASU 2011-05‚ IASB issued an amendment to IAS
Premium Income statement Generally Accepted Accounting Principles Financial statements
Last year many famous pop and sports stars earned millions of dollars each. Many other entertainment and sports personalities also have very high incomes. On the other hand‚ most people in ’ordinary’ professions like nurses‚ doctors and teachers earn only a small fraction of the income of these ’stars’. What do you think about stars receiving very high salaries? Is it fair that jobs that directly help people are paid much less? Some people may argue that while those pop and sports stars are earning
Premium Celebrity Income People
In addition to its direct effect on poverty‚ inequality also effects poverty indirectly through its impact on growth. Initial cross-country studies found that greater initial income inequality actually reduces future growth even after controlling for initial levels of GDP and human capital. Evidence predominantly suggests that inequality is bad for growth. The World Development Report 2000/01 concludes that better distribution is possible without a reduction in economic growth. In other words there
Premium Economics Economic inequality Economic development
chapter 1 accounting information systems: An overview Suggested Answers to Discussion Questions 1.1 The value of information is the difference between the benefits realized from using that information and the costs of producing it. Would you‚ or any organization‚ ever produce information if its expected costs exceeded its benefits? If so‚ provide some examples. If not‚ why not? Most organizations produce information only if its value exceeds its cost. However‚ there are two situations
Premium Accounts receivable Mobile phone Balance sheet
Gender Income Gap Diane Smith ENG 122 English Composition II Instructor Stephanie Derisi August 30‚ 2014 Gender Income Gap In American society today there is an imbalance in the gender income gap between men and women in the work force. Many factors such as discrimination‚ productivity‚ educational background and disproportional hours worked contribute to this ongoing challenge. While many are skeptical‚ others remain to have strong beliefs that women and men are treated equally. In most
Premium Gender Discrimination