Accounting Principles - 721 Words

Accounting Principles The primary objectives of accounting is to keep track of transactions and recording revenue and expenses are important business processes often assigned to an accounting department or a financial manager. Accounting is a business discipline that allows companies to record analyze and retrieve critical financial information that can be used to determine a companys financial status and provide reports and insights needed to make sound financial decisions. There are four basic terms in accounting they are assets, liability, revenue , and expenses. Assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic†¦show more content†¦Businesses can track which customers will pay there bills on time and which customers that will be late with payments. Accounting systems may also inform businesses when customers miss payments on accounts. This is particularly important for small businesses where every dollar is of the utmost importance for continued success. Then finally the businesses can use the simplify tax reporting systems shrink the amount of paperwork a business must keep on hand for accounting and tax purposes. The system can hold sales figures and estimated tax obligations, thereby reducing the stress of finding all the necessary documents when its time to pay taxes at the end of the year. All a business owner has to do is print out the necessary information for an accountant to go over and get back to running theShow MoreRelatedThe Accounting Principles Of Accounting1754 Words   |  8 PagesIntroduction Measurement of accounting elements is the most significant factors that entail the process of preparing financial statements. Accounting measurements presents the vital economic objectives for various accounting entities (Horngren, 2009). Fair value refers to a financial reporting approach operating under the accepted accounting principles (GAAP). This accounting method is also referred to as Mark-market accounting practice. In united Sates majority of the public and private companiesRead MoreAccounting Principles And Its Impact On Accounting1210 Words   |  5 Pages revised accounting standards require companies to change accounting methods. The three categories for changes are accounting principles, estimates, and reporting entity. Change in accounting principles happens when a company changes from one generally accepted accounting principle to another. For instance, Company A uses FIFO inventory cost method but decides to uses LIFO instead. Revision of an estimate because of new information or new experience is called change in accounting estimate.Read MoreWalmarts Accounting Principles1090 Words   |  5 PagesFour Accounting Principles Sharon Wallace American Intercontinental University Accounting Principles 2012 Four Accounting Principles ABSTRACT Accounting principles used by Wal-Mart and the core function of its departments. Wal-Mart’s strength and weaknesses will be listed. Wal-Mart’s last two years of accounting statements are also present. FOUR ACCOUNTING PRINCIPLES Read MoreThe Accounting Principles And Procedures927 Words   |  4 Pagesverifiable, consistency, and comparability when applying accounting principles and procedures. The accounting principles and procedures directly affect the company’s balance sheet and it financial statement by depending on hot it’s prepared and interpreted. If there are any changes in the accounting principles and procedures when preparing the financial statements, it should be notified and documented any changes that made to the company’s accounting practices. Therefore, this paper is going to addressRead MorePrinciples And Concepts Of Accounting2338 Words   |  10 Pages Principles and Concepts of Accounting Name Institution Introduction The major accounting principles that guide accounting practices are endorsed on the Generally Accepted Accounting Principles (GAAP). This is an international guidelines that all the companies and organizations are expected to apply in their operations. These principles are further classified into assumption and constraints. The assumption principles include business entity, going concern, monetary unit and time periodRead MoreAccounting Principles Assignment2931 Words   |  12 Pagesexamples,how the major accounting concepts are used in preparing financial statements. Answer : There are several accounting concepts that are used by the accountants worldwide in preparing financial statements.Using these principles one can prepare a fair and accurate financial statement for a period that would reflect the true condition of the business. Among all the accounting principles,there are some very important fundamental concepts.Those major accounting concepts are : Read MoreThe Two Principles Of Accrual Accounting891 Words   |  4 Pages In order to fully understand the accounting cycle and complete all eight steps, an accountant must understand the adjusting and closing process and be able to prepare trial balances. The unadjusted, adjusted, and post-closing trial balances are all prepared during the eight step accounting cycle. In order to maintain the most accurate financial statements, accrual accounting should be used. Accrual accounting is an â€Å"accounting method that records revenues when earned and expenses when incurred withoutRead MoreFoundational Accounting Principles and Terminology1060 Words   |  5 PagesRunning Head: Foundational Accounting Principles and Terminology 1 TUI University Eric Bollar Module 1: Case Assignment ACC501 Accounting For Decision Making Dr. Wendy Achilles January 21, 2011 Foundational Accounting Principles and Terminology 2 We all know how important the accounting aspect of any business/organization is. It is basically the most important way to manageRead MoreGenerally Accepted Accounting Principles1314 Words   |  6 PagesAccountants use generally accepted accounting principles (GAAP) to guide them in recording and reporting financial information. GAAP comprises a broad set of principles that have been developed by the accounting profession and the Securities and Exchange Commission (SEC). Two laws, the Securities Act of 1933 and the Securities Exchange Act of 1934, give the SEC authority to establish reporting and disclosure requirements. However, the SEC usually operates in an oversight capacity, allowing the FASBRead MoreThe Basic Principles of Accounting - 11176 Words   |  5 PagesThe Basic Principles of Accounting Cherry Marler ACCT205-1203A-17, IP-1 Instructor Jeffery Bloom June 06, 2012 Abstract Accounting is used for several purposes. Investors, creditors, and individuals use accounting to see whether a business is successful or not. Managers and employees use accounting to make decisions on certain objectives. There are four main statements used in accounting: The balance sheet, income statement, the statement of retained earnings, and the statement of cash

Fast Food Addiction Essay - 1457 Words

In looking below the surface of America’s love affair with fast foods, research finds some revealing manifestations that are propelling increasing obesity rates and are thus pushing us toward a growing health epidemic. The increasingly busy lifestyles of our society along with our overreliance on processed and pre-packaged foods are driving the multi-billion dollar food industry today. The food industries strategy to optimize profits through mass produced and processed foods is creating physically addictive products similar to tobacco, alcohol and illegal drugs with equally predictable consequences. These products need to be more clearly understood, identified and labeled for their potentially destructive nature to consumers.†¦show more content†¦This paper seeks to put information in the readers hand to help make that determination and to better understand if the problem is significantly driven by the dramatic increase, and availability, of highly processed ingredie nts specifically used within the fast food delivery system. In order to reach a valid assessment of this situation, this paper will examine how highly processed foods are created and what evidence exists toward making the case for related food addiction and associated health consequences. The focus will then turn toward understanding the nature and psychology of addiction and how this correlates to food consumption, obesity and how this compares to other common addictions in society today. After the technical and psychological foundations are established, the research will turn toward understanding the statistical data associated with fast food; it will also reveal if there is compelling evidence supporting the growing obesity epidemic and fast food consumption. Finally, if a determination for food addiction, driven by processed foods, is validated, this paper will suggest a strategy to acknowledge the issue and propose first steps toward better protecting consumers. The term or idea of processing food is nothing new after all, we processShow MoreRelatedEssay on Fast Food Addiction667 Words   |  3 Pagesï » ¿Fast Food is Our New Addiction Obesity is increasing rapidly because of the fast food. Showing and telling people how unhealthy to eat the fast food is extremely hard because it is now the popular culture for the societies those are dominated by the fast food industries. High profit and low cost is the primary reason why there are many Burger Kings and McDonald’s in the world (Kenway, â€Å"Junk food: The New Tobacco†). Yet some readers may challenge my view by insisting that the fast food industriesRead MoreDon t Blame The Eater By David Zinczenko962 Words   |  4 Pagesthoroughly about fast food and the companies behind it. Zincozenko also talks about fast food companies have affected him and other in today’s world. Zinczenko ate a lot of fast food when he was younger because that is what his mother could afford. There were many people in this situation then and there are many people in this situation now. People go to fast food restaurants because it is convenient, cheap, and on the go. However, all these ‘restaurants’ do not sell quality food as they advertiseRead MoreThe Western Phenomenon Of Fat And Poor1109 Words   |  5 Pagesweight-related diseases? Many Americans live paycheck to paycheck. After bills are taken care of, the necessity that always suffers because of financial insecurities is food. People are quick to choose the cheap and fast food options over their healthy and time-consuming counterparts. This leaves many Americans to pick up the check for their bad food decisions later in life. At McDonald’s, a cheeseburger is cheaper than a salad, but a triple bypass surgery or a lifetime insulin supply surely costs more in theRead MoreDon t Blame The Eater By Davi d Zinczenko931 Words   |  4 Pagesaffected him. In addition, he speaks about fast food and the companies behind it. Zinczenko ate a lot of fast food when he was younger because that is what his mother could afford. There are countless people in this situation. People also go to fast food restaurants because it is convenient, cheap, and on the go. The problem is that these ‘restaurants’ do not sell quality food as they advertise on TV, radio, and online. They sell cheap, processed foods that cause health problems to their consumersRead MoreThe Article Don t Blame The Eater By David Zinczenko974 Words   |  4 PagesZinczenko shares his experience on how fast food has effect his childhood and teenage years. He explains how teenagers can put on weight with a fast food and part of the problem is the lack in nutritional information about fast food. In addition, he speaks about fast food and the companies behind it. Zinczenko ate a lot of fast food when he was younger because that is what his mother could afford. There are countless people in this situation. People also go to fast food restaurants because it is convenientRead MoreFast Food Is Bad For You1377 Words   |  6 PagesIt is not a secret that fast food is bad for you, however people believe that there is nothing wrong with eating fast food in moderation. It really comes down to ignorance being blissful. Our bodies are like vehicles. You want the best fuel for the car, but does fast food provide the right fuel for your body? The fast food industry gives that option to people, giving regular gas when gas-guzzler’s require premium fuel. The main reason fast food should be foods to avoid is an obvious one: it can leadRead More Were All Dying for a Big Mac Essay1699 Words   |  7 Pages and youve got an hour to eat. No problem; theres a McDonalds a mere five minutes from the office. You could go there-its hot, its fast, and its convenient. Besides, they supposedly have healthy foods like chicken and fish on the menu. Approximately 45.8 million people are served at fast food restaurants every day in America, and why not? Fast foods are pre-prepared meals that are served quickly at several restaurants strategically located throughout nearly every American city. But thereRead MoreAdvantages And Disadvantages Of Fast Food1327 Words   |  6 Pages The prevalence of fast food is growing at a rapid pace in more and more countries around the world. The advantages of fast food such as cost, taste, convenience, and fast service makes eating fast food a convenient and cheap source of food for busy individuals. While fast food has its advantages it also has its disadvantages such as high in fat/calories, weight gain, and serious health risks. In this paper, I will discuss the disadvantages of fast food and why they outweigh the advantages whileRead MoreThe Epidemic Of The United States1668 Words   |  7 Pagesjunk food companies, this outbreak continues to claim thousands of lives each year. In our country today, this epidemic trails tobacco use in the second leading cause of preventable death. Many researchers have studied this horrible plague, and the only cure is the motivation to live a healthier lifestyle. Although the profits from major junk-food companies contribute significantly to America s economy, the nation is blind to the detriment of junk food to their bodies: therefore, junk food shouldRead MoreEssay on The American Fast Food Industry1420 Words   |  6 Pages The fast food industry in America has many drawbacks at the cost of supplying food to the American population. Since many people are ignorant of the process their food goes through in order to become the edible meal they consume, American companies easily take advantage of them. In class, we discussed a â€Å"Food Bill of Rights†. I believe that this is necessary in order to keep the food industry safe for the American public and environment. The main focus of my â€Å"Food Bill of Rights† is to ensure

The wife of his youth free essay sample

After the civil war, racial issues affect society and Charles Chesnutt a regional realist writer tackles the subject. The difference between black and white, which should logically disappear, increases, and the African American community is experiencing exclusion in some societies. Chesnutt through his text The Wife of his youth refers to the problem by showing the contrast between black and white. He does not hesitate to create a character belonging to the two worlds so that embodies the image of a possible unification. The essay begins by the exclusion accentuated by the Blue Veins, followed by the real role of Mr Ryder and what it represents. Will also be discussed, the arrival of Liza character and the consequences it represents and to finish the regional realist style of Charles Chesnutt will be evoked. Blue veins society appears as the symbol of the exclusion of black people, but also as the social ascension of light skin people. In fact it highlights the difference between black and white and the difficulties faced by African Americans to get a place in society. Perceive the blue vein on the arms of the group members is not a criterion in itself, but it excludes people who have dark skin. Belong to this Society provides a sense of superiority over other people, makes them stronger and more important. We may assume that Chesnutt emphasize the words Among people, their circle and envious outsider (Chesnutt 27) to show that belonging to the group is to belong to a â€Å"better† world. The Blue Veins embodies the symbol of exclusion, as is clearly shown this sentence; no one was eligible for membership who you was not white enough to show Blue veins (Chesnutt 27). The Society encourages clearly the difference between black and white. Through this real fact using black and white people contrast, we recognize the regional realist style of Charles Chesnutt. After the war, people have the desire to move forward and the blue veins is maybe seen by Charles Chesnutt as a step backwards, knowing that one of the aims of this war being to obtain freedom and recognition in society. The fact that Mr Ryder is the head of the Blue Veins society can be seen as a contrast that Chesnutt tries to evidence throughout the text. In fact, although Ryder is a member of this society, he is nonetheless different from others; While he was not as white as some of the Blue Veins his appearance was such as to confer distinction upon them† (Chesnutt 28). In addition, knowing his past and the fact that he was married to a black woman shows that he makes no difference between black and white people. One can assume that Chesnutt presents Mr Ryder as the figure of unification between white and African American. However we note that there is a contrast between his past and his future. He plans to get married with Mrs Dixon, who is his opposite at every level; she was whiter than he, and better educated (Chesnutt 28) She was much younger than he (Chesnutt 28). While he is different from others, but he must act like them because he represents the society, so you can interpret his desire to marry Mrs Dixon as a desire to confirm his membership in Blue Veins. Also, Mrs Dixon is presented as the whitest woman in the group and in comparison to Liza we find the contrast that Chesnutt developed throughout his text. Mrs Ryder represents the spirit of change and unification but he acts at odds with his thoughts. The arrival of Liza Jane marks the change in Blue Veins. As a member and leader of society Mr Ryder is constantly seeking their approval. Before the return of Liza, he obtained a degree of legitimacy within the group and was exactly like the others. At the end of this story, it is a dilemma; or he chooses the society and at the same time Mrs Dixon, or he runs the risk of presenting the black woman to the society of white people. Even if he is loyal and takes his responsibilities toward his wife, he needs the opinion of the members during the party. So the guests become witnesses and take part in the story. Mr Ryder tells the story as an exterior character, we can note the use of the pronoun he throughout its history. He raises many questions to guests to make sure they understand the situation and that they approve of his decision; Suppose That he was young, and she much older than he, that she was light, and she was black (Chesnutt 35), Suppose, too, that he made his way to the North (Chesnutt 35). He does not seek to prolong the suspense, but to test and measure the reaction of the members. This attitude shows that despite his loyalty to his wife, he is none the less attached to his current status. He unveils the truth when he feels that the members approve the eventual choice; And now, ladies and gentlemen, friends and companions, I ask you, what he should have done? (Chesnutt 36). Presumably Chesnutt put his character in a dilemma in order to show that unification is possible because at the end members share the opinion of Ryder knowing that Liza is black. This is more than an approval; it is a step forward. Charles Chesnutt uses some specific techniques of regional realist. First, he plays with the tone of his characters by using the regional dialect, but he describes some real facts, as in many others of his writings. For example in The Goophered Grape Vine (26), the narrator is an old black and the story is written in African American dialect. In The Wife of his youth, the realist is marked by racial issues raised by Charles Chesnutt, it is a real problem faced by the people of his time. He plays with the contrast between black and white. More he plays with the tone of Liza, for example, I s ben lookin fer im eber sence (Chesnutt32). Through her tone, we can say that she is humble, simple and she shows a real sincerity. But some things seem unrealistic. The fact that the woman has waited and looking for her husband during all this time seems unrealistic because even if she is faithful to him, it is something difficult to conceive in todays society. In addition, the story has a romantic side because ultimately everything ends well, but the fact that he renounces all for the love of an old woman shows his loyalty towards her, but seems a bit unrealistic. Chesnutt describes a real fact perhaps in order to change things, to challenge racial problems through this story. Charles Chesnutt uses this story to raise an issue that affects the society of his time. The fact that the main character is a white married previously to a black woman is not a coincidence. Its a way to show that cohabitation, unification between black and white is possible. Mr Ryder represents the figure of change, progress; he represents the world, which aspires Charles Chesnutt and many African Americans in that era.