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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Principles of Marketing Promotion: Overview and Personal Selling Promotion Mix Personal Selling Advertising Publicity Sales Promotion Elements in the Communication Process (Fig. 14.2) Promotion Strategy Strategic Objectives Appropriate Tasks Budget Implementation Evaluation and Control Strategic Issues Integration Relationships Goals: Information‚ Persuasion‚ Reminder Consumer Considerations: AIETA Model Target Integrated Marketing Communications (Fig. 14.1) Advertising Personal
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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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INTRODUCTION: Ikea has appeared as a concept in the 1940s in Sweden‚ but in 1960-1970 Ikea open stores across multiple markets. IKEA logo colors are yellow and blue‚ representing Swedish flag colors. It currently has over 270 stores open in about 38 countries. All Ikea stores are operated under franchise from Inter IKEA Systems BV. (IKEA‚ 2013) The product range is very diverse in Ikea stores customers can find home décor products from plants and furniture to toys and whole kitchens. (IKEA‚ 2013)
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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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Principles of Macroeconomics Coursework Rodoula Makri ECON101-EN Question 1: a) Price of substitute good falls - As seen on the diagram above when price of substitute product A rise‚ then demand for substitute product B rises accordingly. Positive relationship between the two. Shift to the right. b) Taste shifts away from the good - Whe the taste shifts away from the good it becomes less desirable‚ making its demand for it decrease. Shift to the left. c) Price of complimentary good
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R/602/2906 PRINCIPLES OF COMMUNICATION IN ADULT SOCIAL CARE SETTINGS 1.Understand why effective communication is important in adult social care settings. 1.1 Identify the different reasons people communicate. a) They want to express their wishes‚ thoughts‚ believes etc. b) They do not want to be lonely. c) They want their needs to be met. 1.2 Explain how communication affects relationships in an adult social care setting. Good communication helps to meet individual’s needs and improve
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References: Jeffery S. Abarbanell and Brain J. Bushee (1977) “Fundamental Analysis‚ Future Earnings and Sandip Mukherji‚ Manjeet and Kim (1997) “A Fundamental Analysis of Korean Stock Jiang Xia (2000) “Fundamental Analysis of Price on Chinese Steel Products” Doctoral Dissertation issue retrieved on Feb. 12‚ 2013. 2013 issue retrieved on Feb. 12‚ 2013. 14. http://www.slideshare.net “FMCG-IndiaIndustry-Analysis
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