GAAP‚ generally accepted accounting principles‚ are the rules for preparing the financial statements. There are specialized professionals FASB‚ SEC‚ AAA‚ FEI‚ IMA‚ AIMR and others for developing GAAP. There are 13 principles for preparing Financial Statement. Business Entity Principle requires business to be separated from owner of the business. Going Concern principles requires the business to assume that the business will for long time. Revenue Recognition Principle considers business’s actual
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series of innocent new stories that we treasure all our lives. The circle of the family grows and is strengthened with every addition of a voice‚ and who understands it better than PTCL. For sixty years it has been the one and only connection between families and the voice of the little ones who share thousand stories with the world. From the first faltering “hello” to the most eloquent speech‚ PTCL has given voice to many little angels of Pakistan and today it has become one strong voice of
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Sample Balance Sheet: Example Company Balance Sheet December 31‚ 2011 ASSETS | | | LIABILITIES | Current assets | | | Current liabilities | | | Cash | $ 2‚100 | | | Notes payable | $ 5‚000 | | Petty cash | 100 | | | Accounts payable | 35‚900 | | Temporary investments | 10‚000 | | | Wages payable | 8‚500 | | Accounts receivable - net | 40‚500 | | | Interest payable | 2‚900 | | Inventory | 31‚000 | | | Taxes payable | 6‚100 | | Supplies | 3‚800
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Unit 14 The different types of employment contracts Permanent – is a contract that has no defined termination date other than retirement at 65‚ permanent contracts are always more that a year Temporary is a contract that only last for a period of time (6months or less) this is normally done for a replacement of the staffs on maternity or sickness leave or on training. Part time is a contract that allows someone to work fewer hours than a full-time worker. There is no specific number of hours
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The Different Types of Management Styles by Brick Jackson There are several different types of management styles when it comes to managing in the workplace and choosing the right type of style to lead with could have a big impact in terms of how your staff produces for you. But knowing the four different leadership styles in management does not mean that you can simply pick one and then that is going to work because you are then in essence trying to fit a square peg into a round hole. In most
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is the business run by Ted. He is a sole trader. He wants to convert his business from sole trader to company to take the benefit of limited liability and other benefits as well. He wants advice for forming a company which is the most appropriate for him. Proprietary company unlimited by shares capital‚ public company unlimited by shares capital‚ public company limited by guarantee and public company with no liability are the companies which are not appropriate for Ted. As‚ the companies have unlimited
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Everybody has his or her own type of personality. We all act in a certain way that makes us who we are. It is believed that our parents‚ peers and‚ the environment we grow up in‚ shape us. Personality is describes as a combination of emotions‚ attitude‚ and behavioral patterns of an individual. There is a reason that we are the way we are and there are many theories that go along with that. Different theorist present their own definitions of the word personality
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1. Q:Collect Balance Sheet of five different companies. Try to analyse it in your own words. Analysis can be in terms of change in profit‚ asset‚ liabilities. Etc ZYNGA [pic] The First comapny we’ll be looking at is Zynga. Let’s jump right into it. Across the board‚ the Total Current Assets is less than the previous year‚ more more than other earlier years. This could indicate that the company may have liquidized some of their assests within the year. Total Assests is greater than the
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APPLE THREE-YEAR FINANCIAL HISTORY Results of Operations (in $ millions‚ except shares in thousands‚ per share amounts) Net sales: Domestic International Total net sales Costs and operating expenses: Cost of sales Research and development (R&D) Selling‚ general and administrative (SG&A) Total operating expenses Operating income Other income/(expense)‚ net Income before provision for income taxes Provision for income taxes Net income Diluted earnings per share Shares used in computing diluted earnings
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Financial Statements IFRS vs. GAAP Kathrine D. Nepon Strayer University John Ware ACC 401 November 27‚ 2011 ABSTRACT For those in the business world‚ particularly in the accounting field‚ a major issue has surfaced in recent years relating to the differences between Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS). Currently‚ the majority of countries in the world follow International Financial Reporting Standards guidelines; however
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