Running head: ACCOUNTING PRINCIPLES Generally Accepted Accounting Principles P G HCS 571 June 5‚ 2013 Generally Accepted Accounting Principles Generally accepted accounting principles (GAAP)‚ are standards and guidelines for financial accounting‚ and reporting‚ (Office of Financial Management‚ 2012). There are guidelines in effect for most organizations; GAAP ensures that the finances of an organization are correct. According to Cleverly‚ Song‚ and Cleverly (2011)‚ GAAP describes the “body
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Neighbor Principle The claim on tort of negligence is based on three elements‚ which are duty of care‚ breach of duty and the breach resulted in Damage. The case of Donoghue v Stevenson‚ regarding the snail in the bottle of ginger beer‚ reached the House of Lord in 1932. Lord Atkin formulated a general principle from it to govern the existence of a duty of care and this was the neighbor principle. In order for a duty of care owed there must be reasonable foresight of harm to persons whom‚ it is
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* Bernoulli’s Principle * Vacuum- A space entirely devoid of matter. * Vacuums don’t exist in the Earth’s atmosphere as air molecules are constantly bouncing off each-other. If a vacuum ever existed in the atmosphere it would be filled very quickly because there would be no resistance against the excited air molecules. * This phenomenon is the driving principle behind airplane wings. As wind blows over the wing (see picture below) there is a pressure differential between the
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of the lower-of-cost-or-net realizable value (LCNRV) rule is based on both the expense recognition principle and the concept of conservatism. The expense recognition principle applies because the application of the LCNRV rule allows for the recognition of a decline in the utility (value) of inventory as a loss in the period in which the decline takes place. The departure from the cost principle for inventory valuation is permitted on the basis of
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Unit 9: Interview Analysis Lisa Bowser Kaplan University CJ340: Applied Criminal Justice Ethics Prof: Joseph (Joey) Reynolds August 31‚ 2012 My interviewee was Commander Hamry‚ of the Milton police department in Washington. When interviewing Commander Hamry‚ I found the following to be his impressions of the police force in general: Why are ethics and character so important in the field of law enforcement? Because we represent everything we believe in‚ not only in local and state
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Kevin Clark Sr. Week Five Assignment MAT222: Intermediate Algebra Instructor: Tracy Abram June 26‚ 2013 Compassion and Inverse We will be working the following functions: 1. f (x) = 2x+5 2. g (x) = x2 -3 3. H (x) 7-x3 We have been asked to compute (f-h) (4) To solve the functions we plug in the correct figures f(x)=2(4)+5 = 8+5 =13 =f(4) = 13 h(x)= 7-4 3 = 33 = 1 h(4)=1 (f-4)(4) = 13-1=12 this is our answer Compose two pair into each other A. (f*g)(x)=f (g(x)) f(x2-3)(
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Chapter Two – Closing Case: Five Forces in the Beauty Products Industry In the beauty product industry incumbents such as L’Oreal‚ Nivea‚ Shiseido‚ Elizabeth Arden‚ and Max Factor are leaders of the industry. Incumbents have remarkably long staying power in this industry. Their support comes from the richer‚ aging baby boomers in developed economies and an increasingly more influent middle class in emerging economies. The industry leader L’Oreal was founded in 1909 and other companies
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they tend to be more laid back‚ less goal oriented‚ and less driven by success Agreeableness – Agreeableness is a tendency to be pleasant and accommodating in social situations. In contemporary personality psychology‚ agreeableness is one of the five major dimensions of personality structure‚ reflecting individual differences in concern for cooperation and social harmony. People who score high on this dimension are on average more empathetic‚ considerate‚ friendly‚ generous‚ and helpful. – People
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1)The Principle of Utility is the belief that when a person has a number of options in a moral situation he should chose the one that results in the greatest amount of happiness for the greatest number of people. However‚ the definition of happiness is up to interpretation. I feel as though people should follow this principle in certain situations. For example‚ if you are faced with the choice of playing videogames by yourself at home or going out to dinner with your family you should chose the
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The Big Five Miurell Quant PSYC – 305 Week 3 Dr. Lisa Ortigara After taking the big 5 personality test I am describe as: Scale C: Conscientiousness. People with high scores are described as well-organized‚ responsible‚ and reliable. I guess I do carry all of these traits in my personality‚ the upsides of been conscientiousness is that I have a strong motivation to do anything that I want to achieve either in my workplace or in my personal life. One example of that is that am coming two
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