MEANING OF ACCOUNTING: Accounting is the process of recording‚ classifying‚ summarizing‚ analyzing and interpreting the financial transactions of the business for the benefit of management and those parties who are interested in business such as shareholders‚ creditors‚ bankers‚ customers‚ employees and government. Thus‚ it is concerned with financial reporting and decision making aspects of the business. The American Institute of Certified Public Accountants Committee on Terminology proposed in
Premium Balance sheet Income statement Economics
P5 Explain the legal and ethical issues in relation to the use of business information Definition: Ethics concern an individual’s moral judgments about right and wrong. Explanation: Business information belongs to the business owner and any kind of use of the business related information should be used as per the company policy. There are legal consequences in breaking the rules (code of conduct & code of practice). Staff member needs to use his/her ethical judgement to decide what is
Premium
Ethical and Legal Issues in Nursing Over the last several decades‚ professional nursing has evolved and changed because of the influence of ethical and legal issues. There may be a variety of reasons for the changes. Examples in changes are advances in medical technology‚ legal changes about abortion and euthanasia‚ a push toward patient rights and litigation‚ and ever decreasing resources in which to provide nursing care. With all these influences affecting care‚ it has become increasingly
Premium
The critical concern Political environment has a very important impact on every business operation no matter what its size‚ its area of operation. Whether the company is domestic‚ national‚ international‚ large or small political factors of the country it is located in will have an impact on it. And the most crucial & unavoidable realities of international business are that both host and home governments are integral partners. Reflected in its policies and attitudes toward business are a governments
Premium Political philosophy State Government
Ethical Behavior in Business Ethical Behavior in Business Ethical behavior refers to behaviors that are appropriate. Ethical behaviors are based on morals. An ethical behavior is considered the right way to behave. It involves selecting the right from wrong. People have to conform to the standards set by the organization by choosing what is right and what is wrong. Business ethics is a kind of applied ethics or professional ethics that is aimed at examining the ethical
Premium Ethics Business ethics
Legal and Ethical Issues Relating to Business Information Learning Objectives: I will be able to explain the legal and ethical issues relating to the use of business information (Pass) Legal Issues These are various items of legislation (law) to protect the use of business information. Data Protection Act 1998 Many businesses store and use information about people. The Data Protection Act protects information held about people from being misused. The information stored by businesses on databases
Premium Business ethics Ethics Management
Analysis of Political‚ Economic‚ Legal and Technological Risks in Indonesia By Yohanes Randy Anggoro Student ID: 1004536 Instructor : Mr. Bala Subramaniam N. Module Name : International Trade and Management Module Code : ERCBA-209 Word Counts : 2106 Due Date : 7 November 2012 Content Page Introduction………………………………………………………………………………………………2 Brief Introduction to Indonesia……………………………………………………………………….3 Political Risk……………………………………………………………………………………………..3 Economic Risk…………………………………………………………………………………………
Premium Asia Common law Southeast Asia
3-23 a.2 b.4 c.3 3-24 a.3 b.4 c.1 3-25 a.3 b.2 c. 3 3-26 a. The auditor cannot say the financial statements are correctly stated. Things could change during the audition period. And there are some parts that auditor does not responsible for. Because we cannot audit every single thing. b. It does not say which accounting principles to follow. c. Sorry I don’t know the answer. d. Write down the CPA firm rather than the name of the CPA because it’s the firm to take responsible rather
Premium Auditor's report Audit
creating better futures http://www.uow.edu.au/commerce School of Accounting and Finance ACCY305: Financial Accounting III Subject Outline 6 credit points Subject Information Autumn‚ 2013 Wollongong On Campus Lecture Information: Wednesdays‚ 10:30 - 12:30‚ 67-104 Wednesdays (Repeat Lecture)‚ 17:30 - 19:30‚ 20.4 Pre-requisites: ACCY201 Co-requisites: Nil Restrictions: None Contact Hours: 2 hours lecture and 2 hours tutorial Online Subject Material: http://www.uow.edu.au/student/index.html
Premium Management Strategic management Innovation
Financial Statement Differentiation There are four different types of financial statements; they are balance sheets‚ income statements‚ retained earnings statements‚ and statements of cash flows. Each of these financial statements are important to investors‚ creditors‚ and management in various ways. This paper will provide further insight into these financial statements as well as explore‚ which of these would be of interest to investors‚ creditors‚ and management. Financial Statements
Premium Income statement Balance sheet Generally Accepted Accounting Principles