8/2/2012 Objective of Lecture 2 CLASSIFICATION OF ACCOUNTS & ACCOUNTING EQUATION • By end of lecture 2‚ all students should be able to:(a) Understand the five categories of accounts and able to classify them into the respective categories (b) Understand the accounting equation and the relationship between assets‚ liabilities and owner’s equity. Classifications of accounts • • 1. 2. 3. 4. 5. An account is used to record all information regarding an item. The five major
Premium Generally Accepted Accounting Principles Balance sheet Asset
SUMMARY American companies want to reach the level of Japanese companies on business success. Japan has its own style of management‚ consisting of four main points. From America is the political pressure on Japan to more imports of goods and investing money in American industry. The result is a clash of two styles of managements. PROBLEM Difficulties in applying Japanese management techniques to the American employees. CAST OF CHARACTERS a. CEO 2M Mr.Yoshi Hajima b. Japanese model of management
Premium Management Model Japan
The character in Silver Linings Playbook that is depicted to be mentally ill is Pat Solitano‚ played by Bradley Cooper. Pat was married to a woman name Nikki. However‚ he discovered Nikki in the act of an affair one day‚ with a teacher from his own job. In a fit of rage‚ Pat beats Nikki’s lover. It was determined that Pat was Bipolar and was at a mental facility to get his disorder treated. In the beginning of the film‚ Pat is in the facility with his friend and coaxes his mother to release him after
Premium Bipolar disorder
most important? Explain why. The four basic financial statements are the balance sheet‚ income statement‚ statement of retained earnings‚ and statement of cash flows. The balance sheet shows what it owes and owns. Income statement shows how the company did during a period of time both revenues and expenses. Statement of retained earnings indicates how much previous income was distributed to yourself and other business owners and what was kept for future growth. Statement of cash flows shows where
Premium Balance sheet Income statement Generally Accepted Accounting Principles
statement for the period of January 1‚ 2004 to June 30‚ 2004‚ this idea is not supported. Even though product 103 continued to be unprofitable in 2004‚ Hilton Manufacturing Company did realize a profit of $158‚000 for the first half of the year by keeping it in production. By keeping product 103 in production‚ Hilton Manufacturing Company was able to spread out its fixed costs over three products instead of just two. Furthermore‚ dropping product 103 or any of the products for that matter would not have
Premium Profit Profit margin Marketing
Even if the company reports high profit it is always looking for areas of growth. Last year the Luxottica Group’s Oakley brand and Intel published their collaboration for the launch of Radar Pace to travel-retail‚ an innovative and smart eyewear which coach in real time all the types of athletes with training programs‚ track performances and authentic feedbacks. All this with a hands-free interface powered by Intel Real Speech. Being currently leader in the global market‚ today‚ the company’s main
Premium Marketing Strategic management Customer service
Loblaw Companies Limited Introduction Loblaw Companies Limited were founded in 1919 with two distinct business operations‚ food processing‚ and food distribution. As the leader in the Canada grocery industry‚ Loblaw earned $23.1 billion in 2002‚ improving scale advantages and being different in its stores and products are the two goals of their strategy. On October 1‚ 2003‚ Wal-Mart determined to launch its wholesale brand “Sam’s Club” for changing its weak performance‚ and achieved the objective
Premium Supermarket Brand
medium-sized manufacturing company that has several areas for improvement in its accounting‚ planning‚ budgeting and pricing methods. The group highlighted these weaknesses and gave proposals as to how the company can significantly improve its operations. II. Case Context Stewart Box is a packaging company that manufactures paperboard and cartons. Its paperboard division sells to external customers and supplies raw materials to the carton division. Outlined in the case are the planning and control
Premium Control theory Control system Management
success of the project.” Gordon East‚ IT Manager‚ Timken Business Needs Timken‚ a 109-year-old company‚ is a longtime leader in the production of antifriction bearings and specialty steel. The company began as a carriage maker before the advent of the mass production of automobiles and now has offices in 27 countries and 25‚000 employees. Timken competes in a global marketplace that requires companies to adapt to ever-changing financial conditions. Executives at Timken were anxious to rebuild
Premium Enterprise resource planning Microsoft Office
Whale Printing Company It was Monday morning and Victor Hussey‚ president of Whale Printing Company‚ was considering whether to take on a job at what seemed to him to be a marginal price A half hour earlier Katharine Salter‚ president of Salter Associates‚ had called to say she needed 10‚000 copies of an advertising brochure by Friday noon. She gave Hussey the specifications and said there had been so many delays in getting the copy ready that her regular printer did not have capacity that week
Premium Budget Printing press Cost