...Advantages and Disadvantages of Convention and Concept Advantages of accounting concepts, conventions and regulations. There are many advantages that accounting concepts have on financial statements. Four important accounting concepts that underpin the preparation of any sets of accounts one of which is going concern that helps an account to assume for any future problems that occur in a business. This helps companies to make future plans and gives them time to gather money to sort out any financial problems. Consistency also has an advantage in helping in accounting by users of accounts can make more meaningful comparisons of financial performance. Prudence helps investors sort out financial performance such as future problems and cost of the business before recognising any signs of profits. Accruals also help financial data to be useful for users by all business revenues and cost are recorded in the appropriate statements and at the appropriate time. Conventions also have many advantages in influences financial statements to be useful for investors. Separate entity is one example this convention seeks to ensure that all private transactions and matters relating to the owners are segregated from transactions that relate to the business. This is an advantage because owner’s transactions are kept private. Also they are not mixed with the business finance so that users can clearly see the business financial state. Also materiality is also an important convention in a business...
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...HAPPY 2ND MONTHSARY BABYLOVE! Time has passed so fast and in just a blink of an eye, it's two months already. Spending everyday with you is just so awesome. I'll never get sick of it cause seeing you just brightens up my day. Baby, thanks for tolerating all my nonsense all these while. I know we need to give and take in a relationship. I'm sorry that you've been the one giving and taking all these while. I once thought I was a good boyfriend/girlfriend but I proved myself wrong. Thanks for giving in to me all the time whenever we quarrel. Thanks for treating me like a prince despite what I've done to hurt you in the past. I feel really blessed to have you in my life, by my side. I really thank God for letting us meet, for letting us get closer to each other and now get together. I may not be that "perfect" boyfriend/girlfriend you've been looking for but just so you know, my love for you is true. My love for you cannot be explained in days, cannot be explained in words. Only actions can show you how much you mean to me and how much I love you. Baby, thanks for showing me what is true love. I've never met someone like you, someone so special, someone so true. Words just can't describe how happy and blessed I am to have you in my life. You made my life colorful, you painted it with your love. Thanks for everything you've done for me throughout these few years. I really appreciate every single thing you have done for me. If I had to leave one day, I'll still find my way back to...
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...Advantages and Disadvantages of Advanced Technology By Jin Sun K., Wellesley, MA Email me when Jin S. contributes work Today, we can’t imagine ourselves without technological advances such as cars, microwaves, cell phones, computers, and televisions. However, technology won’t stop here, but develop further. As technology develops, there are not only advantages, but disadvantages from them. A few advantages of upgraded technology are that one can save time and money and life will be made easier as a result of not having to do all the hard labor. In contrast, the disadvantages of upgraded technology are that people will loose their jobs to machines that will do the work for them. In addition, machines and robots are too complex for most people to use. I personally would want a developed world with advanced technologies. The following are the reasons why I do want a more advanced world with advanced technologies. My major reason is because when you have advanced technologies, life is much easier as robots and machines would take over your daily life chores. For example, daily life chores might be serving your breakfast, cutting your lawn, or cleaning your room. With robots and machines doing one’s chores one has time to relax. Another reason is because unlike humans, robots and machines do not make mistakes when programmed correctly. They always accomplish tasks perfectly so you won’t have to worry about making a mistake and getting trouble. Other reasons why I want advanced...
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...Advantages and Disadvantages Internet is undoubtedly the most crucial technology of the modern world, the useful application has not only made our lives easier than ever before but it also plays a very important role in the future developments. With the introduction of the internet the global communication has become a matter of just the finger tips of the users. The internet has brought about the various different, innovative communication means like the emailing, chatting and the voice conversation system over the internet. These systems have not only made the communication easy but also daily lives interactions following the business of people living on the other sides of the world. The other uses of internet include the games, websites and media access which was never so easy before. Everything has the negative aspect to it and so does the internet, the biggest threat of the internet is in the pornography and the security threats. Pornography is widespread over the internet making it inappropriate to be used by the children below certain age so as to prevent the psychological damage from the early days. These sites are easily accessible and attractive for the teenagers and young kids. The security over the internet cannot be guaranteed due to the major hacking techniques and theories, even the interaction between the two strangers can lead and then serious cases of murders and serial killers plots which have become increasingly popular because of the internet launch. Despite...
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...Arlette Jimenez 0281024 ESL 024 N02 Irma Sanchez 11.04.14 Advantages and disadvantages of computers Nowadays we can find many advantages about how the computers have given us a lot of help, but what happens when these advantages change our way of life and try to harm us destroying little by little our lives. Let us talk about this controversial topic in two important points. First of all, our everyday life has known a very remarkable development in fact the use of computers technologies became indispensable. This excessive use of it has permitted a considerable growth in different fields, study research and industry. But it renders the human factor less creative, more dependents and it is not friable one hundred per cent. For example, because of computers we can store data and make stay in its original state, like pictures, documents and other things. This was not possible in the earlier time. Because of it, we can store large amounts of data and make this data available for usage at any time we needed it. In addition, the computers also help us work efficiently and save time, they are a good entertainment venue where people can play games, watch movies and listen to music. Despite the huge benefits of computers, it can’t be denied that their disadvantages are also a complicated problem. The computers can have a bad effect to our health, especially our eyes. Seeing computers too often in the long run might causes a lot of optic diseases. Besides...
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...Whatsapp messaging platform all around the world. Whatsapp Inc. was founded by Jan Koum and Brain Acton, who was the former employees at Yahoo Inc. Whatsapp Android mobile come over to Windows, Symbian, iOS, Blackberry OS. This further helped it to increase its popularity through out the world. I Advantages of Using Whatsapp Some of the great advantages of using Whatsapp are: You can easily send free messages to any part of the world without any charges. This service is completely free. All tools provided by Whatsapp are very easy to use. It do not have any advertisements on display screen. This app automatically imports the contacts from your phone and tells you that how many of your friends are using Whatsapp. You can share your location, photos, status with your friends. You need not spend any money for chatting and sharing with your friends. It also allows you to send 100 messages a month to any of your friends not using Whatsapp for free. Disadvantages of Using Whatsapp Everything having a plus point also has some negative points too. So here are some of the disadvantages of this brilliant app: You can chat to friends that only have smart phones supporting this application and to friends having their account on Whatsapp. You can just send 100 messages in a month to friends not having Whatsapp on their phone. You must have access to internet to send and receive messages for free and the messages are also not sent to the phone inbox. You need to pay $0.99...
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...Advantages and Disadvantages of Planning Even though planning is very important in achieving the objectives of organizations, it also has its disadvantages. Firstly, the advantages of planning are, the employees will be hard working as they are aware of the directions that need to be achieved. As the planning involves a specific time period and managers are well aware that the objectives will be archived when the time comes. As a result, managers and the employees will work more enthusiastically throughout the period of achieving that objective. With the panning, everyone in the organization knows the objectives, and will be working towards the same direction. When a senior manager sets an objective, the managers automatically starts to establish strategies of achieving that objectives. Planning has a positive impact on both the organization and the individuals. It helps the organization grow and expand while performance of the individuals will improve because of the objectives and work strategies. On the other hand, there are not much disadvantages but it could have negative impact on the organization. As plans some plans are made for a specific time period, existing plans needs to be updated. This would lead to employees to change the strategies as they will be no longer suitable. This could cause an implementation failure in the present plans. Usually plans are made on the assumptions of future occurrence. If the forecast made is wrong, then the planning made based on...
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...Advantages and Disadvantages of a Union Abstract This work will describe the advantages and disadvantages of a union for a cashier at Wal-Mart. It will present some ways a union could benefit the cashiers and also ways a union could be harmful to them. Unions could protect the cashiers from the abuse of the company. On the other hand, unions could also abuse in their demands hurting all the employees. Finally, this paper will show my viewpoint on the unions as beneficial or not to cashiers at Wal-Mart. Advantages and Disadvantages of a Union The word union evokes strength. However, when people talk about labor unions, the effects can be both positive and negative. Mathis and Jackson (2011) state, “union is a formal association of workers that promotes the interest of its members through collective actions” (p. 540). Cashiers at Wal-Mart have a lot of responsibility. First of all, they work with cash, products, prices, and, the most important, they work directly with customers providing service. They have a key role in the store. The advantage of having a union at Wal-Mart for a cashier would be that the union would negotiate better pay and benefits for them. Some of the benefits for the cashiers are: 1. Cashiers have to deal with different type of customers and sometimes they encounter difficult situations. With these risks and conditions, a union can protect them from those working conditions and request to keep their work. (Not sure what you mean)Union...
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...Plus, you share the risks and liabilities of company ownership with the new investors. Since you don't have to make debt payments, you can use the cash flow generated to further grow the company or to diversify into other areas. Maintaining a low debt-to-equity ratio also puts you in a better position to get a loan in the future when needed. Equity Disadvantages By taking on equity investment, you give up partial ownership and, in turn, some level of decision-making authority over your business. Large equity investors often insist on placing representatives on company boards or in executive positions. If your business takes off, you have to share a portion of your earnings with the equity investor. Over time, distribution of profits to other owners may exceed what you would have repaid on a loan. These are basic terms which are related to Debt to Equity ratio. How to calculate debt/equity ratio Definition The debt-to-equity ratio (debt/equity ratio, D/E) is a financial ratio indicating the relative proportion of entity's equity and debt used to finance an entity's assets. This ratio is also known...
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...Advantages and disadvantages of gm crops The continuously growing human population poses a great challenge to the farming industry. For centuries humanity has selected the best and most suitable crops for the environment they were living in, nowadays with over 800 millions of people being undernourished the pressure to find a better way to feed the population has never been higher (FAO, IFAD and WFP. 2014). Since the first genetically modified crop was introduced in the market in 1994 (James, C. and A.F. Krattiger. 1996.) the debate over GM crops has never stopped. Among the numerous advantages of a genetically modified crop the possibility to engineer a crop to be resistant to pests, bacteria, and fungi stands out, this allows to reduce the use of harmful pesticides, to increase the yield of the crop and the monetary income related to the crop which could help developing economies. Another important advantage of GM crops is the possibility to enhance the content of nutrients in the plant, such is the case of Golden rice a variety of Oryza sativa rice specifically engineered to biosynthesise beta-carotene to address the problem of Vitamin A deficiency in the diet of the population of many developing countries (Ye, X; Al-Babili. 2000). Besides the many advantages the scientific community has often questioned both the environmental and the health risks related to genetically modified crops. The two major concerns regarding GM are the toxicity and the allergenic properties that...
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...Advantages and disadvantages of technology. In the last century many people did things by hand but nowadays more and more tasks have become automated. For example, many people have washing machines, clothes driers and dishwashers, so the amount of energy needed to wash and dry clothes and wash dishes is greatly reduced. As technology progresses, more and more of these tasks will be automatic, for example, vacuum cleaning or cutting the grass. In addition to this, improvements in technology have given us 24-hour a day entertainment from digital TV to video games. This means that there are fewer tasks to do, more time to do nothing and more opportunities to sit around and be entertained without moving very much. As we can see, there are both advantages and disadvantages to this. I will deal with the advantages firstly. I think, there are at least two positive effects of this. First of all, we don't need to do repetitive and uninteresting job like washing-up and this gives us more time to do other things. What we do with this time depends upon the individual. Secondly, for people, who are less able to do these jobs, like elderly or disabled people, these machines are a great help. Future developments may be able to help them even more. I think, this is the most positive side of technology. Now I will look at the disadvantages. As I mentioned, it is up to the individual what they do with this extra time. Unfortunately, instead of doing everyday tasks people tend to watch television...
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...Advantages and Disadvantages of the EHR Over the historical decade, every major business invested heavily in computerization. Comparative to a decade ago, today more Americans buy airplane tickets and check in to air flights online, buy things off the internet, and some people earn degrees online. In spite of these developments in our civilization, many patients are given handwritten prescriptions, and not many patients are able to email their doctor or even schedule an appointment to see a physician without speaking to a live receptionist. Electronic health record (EHR) systems has changed the healthcare system from a mostly paper-based industry to a computerized system to assist providers in providing higher quality of care to their patients. The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, which is part of the American Recovery and Reinvestment Act (ARRA) (aka “stimulus package”), was signed into law with an unambiguous purpose of incentivizing providers to adopt EHR systems. The HITECH Act requires that providers adopt EHRs and use them in an eloquent way, meaning using certain EHR functionalities associated with error reduction and cost containment. Some advantages of technology in our society today regards clinical, organizational, and societal outcomes. Clinical outcomes consist of enhancements in the value of care, a decrease in medical mistakes, and other advances in the number of patients that describe the relevance of...
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...Advantages and Disadvantages of Outsourcing Outsourcing is an allocation of specific business processes to a specialist external service provider. Most of the times an organization cannot handle all aspects of a business process internally. Additionally some processes are temporary and the organization does not intend to hire in-house professionals to perform the tasks. Once the task is outsourced to the service provider, he will take the responsibility of carrying out the tasks and maintaining the organization’s assets. However prior to outsourcing any component of your business to a third-party vendor, it is essential to understand the advantages and disadvantages of outsourcing. Although outsourcing presents a variety of benefits to your organization, it could also pose difficulties if not outsourced to the right service provider. In this essay I will demonstrate on advantages and disadvantages of outsourcing tasks to a third party. Most of the times, companies outsourcing their tasks to vendors who are specialized in their field. The outsourced vendors also have specific equipment and technical expertise, most of the times better than the ones at the outsourcing organization. Effectively the tasks can be completed faster and with better quality output. As you evaluate your choices and decisions in outsourcing different components of your operations, you will need to consider the advantages of outsourcing. When done for the right reasons, outsourcing will actually help...
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...A. Advantages from the Franchisor’s point of view: Financial: Franchising creates another source of income for the franchisor, through payment of franchise fees, royalty & levies in addition to the possibility of sourcing private label products to franchisees. This capital injection provides an improved cash flow, a higher return on investment and higher profits. Other financial benefits that the franchisor enjoys are reduced operating, distribution and advertising costs. Of course that also means more allocated funds for research and development. Additionally, there will always be economies of scale with regard to purchasing power. Operational: The franchisor can have a smaller central organization when compared to developing and owning locations themselves. Franchising also means uniformity of procedures, which reflects on consistency, enhanced productivity levels and better quality. Effective quality control is another advantage of the franchise system. The franchisee is usually self motivated since he has invested much time and money in the business, which means working hard to bring in better organizational and monetary results. This also reflects on more satisfied customers and improved sales effectiveness. Strategic: To the franchisor, franchising means the spreading of risks by multiplying the number of locations through other people’s investment. That means faster network expansion and a better opportunity to focus on changing market needs, which in its turn means...
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...ADVANTAGES & DISADVANTAGES OF TOURISM Advantages 1. Tourism provides foreign exchange (US dollars) which allows: i) The government to pay bills such as: a) Allows government to pay foreign debt. b) Allows the Bahamian dollar to stay on par with the US dollar. c) Allows government to pay the thousands of persons employed in government their monthly salaries. d) Allows government to have money to do road works, school construction and all other governmental works. ii) Allows Bahamians to go shopping abroad to buy goods and send their children to school, as long as the US dollars are floating in the Bahamian economy easily. iii) Foreign Exchange allows for the easy importation of goods and food. 2. Tourism provides jobs for thousands of Bahamians both directly and indirectly. If tourists do not come to the Bahamas, those persons directly involved in tourism for example, the straw vendors, the taxi drivers, retail storeowners etc., could be unable to pay their bills. If they are unable to make money they could be unable to pay their landlords, their mortgages (the banks), etc. For example, persons indirectly involved in tourism such as landlords, could have trouble obtaining their rent. 3. Tourism plays an important role in ensuring that Bahamians are employed. If tourists do not come to the Bahamas for a period of time, persons employed directly in tourism could begin to lose their jobs and this...
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