describe what profit and loss accounts are. PROFIT AND LOSS ACCOUNT By law business are required to provide annual financial statements‚ which will appear in their company report‚ there are two main types of financial statements‚ one is balance sheet and the other is a profit and loss account. A profit and loss account is a record which can be updated regularly and generally shows businesses transactions made over a period of time (usually within 12 months)‚ An example profit and loss account
Premium Balance sheet Generally Accepted Accounting Principles Income statement
Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
Premium Structure Public sector Organization
Phil Kwon Scent of Apples The short story Scent of Apples highlights the class stratification in the Filipino community. In order to illustrate this‚ Santos foils the character of the traditional Filipino farmer‚ Fabia‚ to the main character who is from the Islands. It was interesting to see how blind the Filipinos in America were‚ to the situations present in their own country. It was as if their traditions‚ stories‚ and lifestyles were lost when they moved to the United States. Filipina exemplifies
Free United States Philippines Filipino people
Executive Summary Apple Computer’s 30-year history is full of highs and lows‚ which is what we would expect in a highly innovative company. They evolved throughout the years into an organization that is very much a representation of its leader‚ Steven Jobs. Apple made several hugely successful product introductions over the years. They have also completely fallen on their face on several occasions. They struggled mightily while Jobs was not a part of the organization. Apple reached a point where
Premium Apple Inc. Steve Jobs
Signatures and Apples: Children Claiming Identity A young girl and boy take their first steps toward forging their identities. In Julia Alvarez’s “Dusting‚” a girl decides that she wants to be more than a diligent housekeeper like her mother. In Alberto Rios’s “In Second Grade Miss Lee I Promised Never to Forget You and I Never Did‚” a boy catches his first glimpse of romantic love by listening to his unconventional teacher. Both of these children learn important lessons about life from
Premium Love Rhetorical techniques Boy
INTRODUCTION In 1976‚ Apple Computer‚ Inc. was established and was incorporated in 1977. Apple’s first product was the Apple I which began the personal computer revolution. In 2007‚ Apple Computer‚ Inc. changed their name to Apple‚ Inc. They made this change because they shifted their focus from only producing computers to producing other products for industries such as entertainment and mobile telecommunications. BCG MATRIX iPod iTunes iPod iTunes iPhone iPad iPhone
Premium Apple Inc. App Store
: [ 4 x 5 = 20 marks ] (ii) Anil and Mukesh are partners sharing profit and losses in the ratio of 3 : 2. Govind is admitted for ¼th share of firm. Thereafter Madan enters for 20 paisa in a rupee. Compute new profit sharing ratios under both the admission of partners. (iii) The following Goodwill Account was opened by the partners of R and S‚ on the admission of H as a new partner into firm Om and Sons. Calculate the share of profit agreed to be
Premium Balance sheet Asset Inventory
Each and every person has the potential and free choice to pursue a career as an entrepreneur. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 29 2. The generation of the 21st century may become known as generation E because they are becoming the most entrepreneurial generation since the Industrial Revolution. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 29 3. Determining a person’s “entrepreneurial
Premium Entrepreneurship Entrepreneur
In order for a company to be able to reach its full potential financial management must be in place. This management needs to be aware of at least the basics of financial plans which are revenue‚ cost and profit. These three things can make or break a company. Each of these things must be understood and considered before plans can be laid to create or better a company. Revenue is the amount a company receives (Marginal Revenue‚ 2009). If a company is in the business of sales‚ revenue is the
Premium Marginal cost Variable cost Economics
Week 05 Case Study “Apple introduced the original iPhone back in 2007‚ instantly obsoleting every other smartphone on the planet in every way that mattered” (Ritchie‚ 2013‚ p.1). Within the next two years Apple came out with the iPhone 3G and 3GS which they were able to increase the functionality while simultaneously lowering the price‚ this allowed Apple to take the smartphone fully out of the niche and make them mainstream (Ritchie‚ 2013). Apple was able to bring the iPhone to broader
Premium Mobile phone Smartphone