...based off their own perception of it as well as what is socially acceptable. The construct is also measured by a person’s perception and socially accepted concepts of “well-being”. A person’s well-being is what they make of it. The ability to find happiness does not come from outside sources. However, the ability to equate one’s sense of well-being is influenced by outside sources. People have the tendency to trust what is shown to them through advertisements and shows of what is the proper amount of well-being. In truth, this is different for each person. Asking to give a moderation or value to it does have its psychological benefits, but it can also provide for a conflict in a person. We seek to be what we are supposed to be. Part of that is seeking to be happy and have that sense of “well-being”. Quantifying it, or trying to, in any sense will always be subjective because we are all different, having our own perceptions, and our own scales of positive and negative. 2. On p. 18 of your textbook, the authors present the hypothetical possibility of being hooked up to an ‘experience machine’ that would guarantee a constant state of happiness and positive emotion. Would you choose to be hooked up to such a machine? Why or why not? In your response, differentiate between hedonic and eudaimonic concepts of happiness. I had to think about this for all of about two seconds before I had my answer. I would absolutely not want to be hooked up a machined that...
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...ACC 537 Basic Accounting Concepts Sources of GAAP There are four bodies who take part in the creation of Generally Accepted Accounting Principles. The first of which is the Securities and Exchange Commission (SEC). Companies that go public must file financial statements with the SEC. The SEC creates a standard of financial statements that the companies must file. The SEC works with the private sector as well by encouraging resolving reporting problems and may also reject standard proposals. The SEC may also issue deficiency letters and stop orders when they believe a company’s financial statements contain errors. The second group responsible for developing GAAP is the American Institute of Certified Public Accountants (AICPA). The AICPA has introduced boards and committees that help develop GAAP. The Committee on Accounting Procedure (CAP) was founded by the AICPA and issued Accounting Research Bulletins that dealt with accounting issues on a problem by problem basis. CAP was eventually dissolved, and the Accounting Principles Board was developed. Their main goal was to create a conceptual framework. It issued APB opinions and was also later dissolved. The third responsible party in GAAP creation is the Financial Accounting Standards Board (FASB). “Its mission is to establish and improve standards of financial accounting and reporting for the guidance and education of the public, which includes issuers, auditors, and users of financial information (Kieso...
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...Basic Concepts Paper Charles Lloyd Eco/415 October 19, 2012 George Flemming Basic Concepts Paper Circumstances, which are different, can have a major affect on supply and demand. The simulation in this week’s assignment deals with the curves of supply and demand and how they are affected by the changing of situations that happens in the city of Atlantis with the two-bedroom apartments. Changes were supposed to be made depending on the findings and results made within the Atlantis community. The shifts in supply and demand will have an effect on the Goodlife decisions. This simulation has four emphasized key points they are price ceilings, supply and demand, shifts in supply and demand, and equilibrium. This paper will summarize briefly found concepts of each scenario; whereas, it will explain the supply and demand changes and how the changes affect decisions that relate the supply and demand concepts to the testing service department of Aflac’s Software Company. When Goodlife first started the business wanted to see what, he or she would have to charge for the monthly rental of an apartment to receive maximum revenue for the 2,000 available apartments. The results showed that an apartment monthly rent of $900 would have to be charged for the maximum revenue to reach $1.80 million dollars. Although this rate is better than the $1300 that was original asked; whereas, $2,000 apartments were in demand and rented leaving no surplus. This simulation shows that when a lower...
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...Conceptos Básicos University of Phoenix ECO 415 / Applied Economics in Business Conceptos Básicos Los cambios en cualquier ambiente tienen causa y efecto. De igual manera en el área de los negocios cuando hay cambios se ve afectada de una forma u otra la oferta y la demanda. La demanda para un bien o un servicio es definida como cantidades de un bien o un servicio que las personas están listas para comprar a varios precios en ciertos periodos de tiempo dados, otros factores adicionales al precio se mantienen constantes. Estar listos implica que los consumidores están preparados para comprar un bien o un servicio porque están esperando (tienen preferencia por ellos) y están accesibles (tienen el ingreso para adquirir su preferencia). Los cambios en la demanda de los productos se perciben por el cambio en el historial de las cantidades demandadas y la lista de precios o un cambio en la curva de la demanda ya sea a la izquierda o la derecha. Por otro lado la oferta de un bien o un servicio es definido como la cantidad de un bien o servicio que las personas están listas para vender a diferentes precios excepto en ciertas temporadas, otros factores aparte del precio se mantienen constantes. La única diferencia entre esta definición y la de demanda es que en esta es venta y en la demanda es compra. Al igual que en el caso de la demanda, oferta es basado en un termino de tiempo asumido en donde el precio y otros factores pueden afectar la cantidad suplida. En el primer escenario...
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...Basic Concepts Kathy D. Hardy ECO/415 December 8, 2011 Dr. Robert Mupier In this paper the subject to discuss is the supply and demand from the simulation located on the University of Phoenix Student Website. There are several questions that will be answered and discussed such as how the changes in the business environment cause changes in supply and demand, why marginal analysis is important when making business decision, fixed and variable costs, and economic difficulties operating companies face. The subject of this paper will also give examples to these questions as they relate to the simulation to complete the knowledge of basic concepts in applied economics. Basic Concepts The supply and demand concept located in the simulation is key dynamics and basic concepts in applied economics. The main objective of this simulation is for Good Life Management to keep the equilibrium point in the two-bedroom rental apartment market in the city of Atlantis. Customer likes and preference, cost, and the level of the residents have the effect on the demand. The numbers of apartments, the quantity of apartments available and the quantity of apartments rented have the effect on the supply. Additionally, a variety of concerns should be taken into consideration such as the shift in supply and demand, and the process the shift in supply and demand has on the business environment. Furthermore, Management should think about the significance of the marginal...
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...Basic Accounting Concepts and Business Structures David Lickem ACC/537 April 15, 2013 Basic Accounting Concepts and Business Structures The accounting profession as a whole is extremely complex and ripe with regulations and rules. It is also enormously important to any organization, big or small, and thus can be a very intimidating career choice. As with anything else though, reaching a destination requires a starting point, and in accounting, a good starting point is to understand basic accounting concepts and business structures. These basic accounting concepts include but are not limited to the Generally Accepted Accounting Principles, the qualities of effective accounting information, and the differences between accrual based accounting and cash based accounting. The different types of business structure are also an important concept in understanding the basics of accounting. Generally Accepted Accounting Principles: Sources and Hierarchy The stock market crash of 1929, which led to the Great Depression, resulted in a demand for more government regulation in financial institutions and the stock market. The Securities and Exchange Commission (SEC) was established with the goal of developing and standardizing financial information presented to stockholders, and since then the SEC has worked alongside several private organizations to develop the Generally Accepted Accounting Principles (GAAP) Sources of GAAP The American Institute of Certified Public Accountants...
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...Basic concepts in nursing science School of Nursing Medical University March, 2005 Introduction 1. Definition of nursing science 2. Four basic concepts that affect and determine the nursing practice (1) Human being (2) Environment (3) Health (4) Nursing Human being 1. The human being is a uniform whole （entirety） (1) Concept of a whole (2) The uniform whole of human being 1) Physiological 2) Psychological 3) Social 4) Spiritual 5) Cultural 3. The human being is an open system (open whole) (1) Close system (2) Open system 4. The scope of human being in nursing (1) Individual (2) Family (3) Community (4) Society Basic goal of human being: To maintain the balance of organism 1) Balance among subsystems of an organism 2) Balance between organism and its environment (internal environment and external environment) 2. Basic need of human being (1) Definition of basic need 1) Need 2) Basic need of human being (2) Types of basic need 1) Physiological need 2) Social need 3) Affective need 4) Cognitive need 5) Spiritual need (3) Characteristics of basic need 1) Approximately same basic need 2) The importance of each need for each person is different 3) All the basic needs are interconnected and interactive (4) Factors that affect meeting needs ...
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...Basic Accounting Concepts and Business Structures Basic Accounting Concepts and Business Structures The accounting environment is constantly changing to improve so decision-making in the business world will thrive. To be successful in a business, understanding the fundamental concepts are essential to make informed decisions. The federal government formed the SEC to standardize financial information and to keep the financial environment regulated. In the following sections the basic concepts of accounting will be addressed along with the three business structures. Generally Accepted Accounting Principles The framework of guidelines on standards and rules for financial accounting are referred to as the generally accepted accounting principles (GAAP). The American Institute of Certified Public Accountants (AICPA) issued the hierarchy of generally accepted accounting principles as an auditing standard. It has four categories ranging from most authoritative, Category A to least authoritative, Category D. The major sources are FASB Standards, Interpretations, and Staff Positions, along with the ABP Opinions, and AICPA Accounting Research Bulletins. The hierarchy is important because there are times when these sources do not provide the guidance needed by companies. When a company is looking for guidance and there is conflicting information, the company should always refer to the pronouncements in the higher...
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...Basic Accounting Concepts Vai Ma’ake University of Idaho Financial Accounting ACCP/537 March 19, 2011 Introduction To identify and describe the sources of generally accepted accounting principles (GAAP). Also identify the source hierarchy and explain why the hierarchy is important. Describe effective accounting information using the qualities of accounting information and how an accrual basis of accounting system is different from a cash basis of accounting. Finally, describing the different types of business structures and the defining features of each structure (University of Phoenix Syllabus, 2011). Basic accounting concepts In successfully running and operating a business, business structure and basic accounting concepts must be present to operate well. The generally accepted accounting principles also known as the (GAAP) set standards to the financial statements. The standards set by the GAAP must also include effective accounting information. Companies do have the option either to use accrual basis of accounting or cash basis of accounting. However, under the GAAP it does accept cash basis accounting. Companies will determine the type of business to do business in. However, these decisions do makes the difference in how successful a company is. [pic]GAAP The GAAP are standards, which are universally practiced and generally accepted in accounting. These standards and rules are for accountants to use in compiling...
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...RANULFO ALEJADO ACC/537 Financial Accounting Basic Accounting Concepts and Business Structures Executive Summary Most businesses nowadays either sole proprietorship, partnership or corporation should prepare financial statements in accordance with the Generally Accepted Accounting Principles (GAAP). Financial statements are the major source of financial information that would help management, creditors, and investors in their decision making. Financial reporting is one of the responsibilities of the company in communicating financial information, which guides in investment and credit decisions, assessing cash flow prospects, and about company’s resources, and claims to its resources. Accrual and cash basis of accounting are the methods employed in recording financial transactions, which affect the credibility of its financial information. Generally Accepted Accounting Principles Generally Accepted Accounting Principle (GAAP) is a helpful guide in financial reporting. For the past half a century, less than 50% of the GAAP issued are still effective today. These were reviewed and revised in accordance to the investors, and creditors information needs (Fisher, 1998). GAAP are set of standards and procedures that have substantial authoritative support. The organizations responsible in its development are the Securities and Exchange Commission (SEC), American Institute of Certified Public Accountants (AICPA), Financial Accounting Standards Board (FASB) and Government...
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...Basic Skills and Concepts 21-28 Determine which of the four levels of measurement (nominal, ordinal, interval, and ratio) is most appropriate. 21. Voltage measurements from the author’s home: Interval 22. Types of movies (drama, comedy, adventure, documentary): nominal 23. Critic ratings of movies on a scale from 0 stars to 4 stars: Ratio 24. Actual temperatures (in degrees Fahrenheit): Interval 25. Companies (Disney, MGM, Warner Brothers, universal, 20th Century Fox): Nominal 26. Measured amounts of greenhouse gases (in tons per year) emitted by cars: Interval 27. Years in which movies were released: Ordinal 28. Ranks of cars evaluated by Consumer’s Union: Ordinal Collecting Sample Data: 9-20 Identify which of these types of sampling is used: random, systematic, convenience, stratified, or cluster. 9. Ergonomics: A student of the author collected measurements of arm lengths from her family member: Convenience 10. Testing Echinacea: A study of effectiveness of Echinacea involved upper respiratory tract infections. One group of infections was treated with Echinacea and another group was treated with placebos: Cluster 11. Exit Polls: On the day of the last presidential election, ABC News organized an exit poll in which specific polling stations were randomly selected and all voters were surveyed as they left the premises: Convenience 12. Sobriety checkpoint: The author was an observer at a Town of Poughkeepsie Police sobriety...
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...Explaining Basic Concepts and Business Structures Kristin Elam ACC/537 March 24th, 2014 Rebecca Kime Topic 1: Identify and describe the sources of GAAP. Identify source hierarchy and why it is important. “Although principles and practices continue to provoke both debate and criticism, most members of the financial community recognize them as the standards that over time have proven to be most useful.” (Keiso, et all, 2007, (2007). Financial Accounting, Ch. 1). Defining standards for financial reporting is critical to creating a financial playing field that enables us to to evaluate and make sound business decisions as individuals, companies, a nation, and global economy. The major sources of influence that define the guidelines of generally accepted accounting principles (GAAP) are Financial Accounting Standards Board (FASB) Interpretations, and their Staff Positions; Accounting Principles Board (APB) Opinions, and American Institute of Certified Public Accountants' (AICPA). The guidelines followed in the financial industry begin with the most authoritative source, defined as the “GAAP hierarchy”. At the top are FAS statements and AICPA opinions, FASB staff questions and answers and AICPA interpretations. If decisions and information can’t be ascertained by these sources, common practices, opinions, and other publications would fall on the bottom resources of the hierarchy. (Keiso, et all, 2007) Topic 2: Describe effective...
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...Decision Support Systems The material has been prepared by considering the prescribed textbook, internet and assignments given by the students (BBM 2011-2014 Batch). The material can be further improved by adding more insightful examples and explanation. The material may not be exhaustive and should be taken as a guide to help in better learning of the subject. ALL THE BEST Unit – I: 1. What is DSS? Explain the Characteristics, Benefits and Limitations of DSS. Definition: A decision support systems is a system under the control of one or more decision makers that assist in the activity of decision making by providing set of tools intended to impose structure to the decision making situation and improve the effectiveness of the decision outcome. Characteristics of DSS: * Employed in semistructured or unstructured decision contexts * Intended to support decision makers rather than replace them * Supports all phases of the decision-making process * Focuses on effectiveness of the process rather than efficiency * Is under control of the DSS user * Uses underlying data and models * Facilitates learning on the part of the decision maker * Is interactive and user-friendly * Is generally developed using an evolutionary, iterative process * Can support multiple independent or interdependent decisions * Supports individual, group or team-based decision-making Situation of Certainty Structured Unstructured Situation...
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...Basic Accounting Concepts and Business Structures Accounting is referred to by many as the language of business. Accounting is used throughout the business world and around the globe. Business accounting starts with (GAAP) which stands for Generally Accepted Accounting Principles; “These are guidelines or, more precisely, a group of objectives and conventions that have evolved over time to govern how financial statements are prepared and presented” ("What Are Generally Accepted Accounting Principles? | Government Bodies & Offices from AllBusiness.com," 2010). Those who report financial statement information must be aware of GAAP. The Federal Accounting Standards Advisory Board (FASAB) is responsible for establishing and maintaining GAAP. GAAP Hierarchy The hierarchy of GAAP is broken into four categories consisting of A, B, C and D. Category A holds the most authority. This category establishes the principles set forth by the Federal Accounting Standards Advisory Board (FASAB). Category B consists of technical bulletins, audit and accounting guidelines which adhere to the American Institute of CPA’s standards and are cleared by the FASAB. The C category consists of “technical releases from the Accounting and Auditing Policy Committee of the FASAB” ("Generally Accepted Accounting Principles," n.d.). The last category is D; this category consists of implementing guides which are published by the FASAB. These guides also provide practices which are common and...
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...Basic Accounting Concepts and Business Structures ACC/537 August 13, 2012 Sources of GAAP and Source Hierarchy According to our textbook Financial Accounting, “General Accepted accounting principles (GAAP) have substantial authoritative support. The American Institute of Certified Public Accountants (AICPA’s) code of professional conduct requires that members prepare financial statements in accordance with GAAP. Specifically rule 203 of this code prohibits a member from expressing an unqualified opinion for financial statements that contain a material departure from general accepted accounting principles” (Kimmel, Weygandt & Kieso, 2007, p. 12). According to (Kieso, Weygandt, & Warfield, 2007), General Accepted Principles (GAAP) are an established common set of accepted accounting principles procedures, and standards made over time by the AICPA, a national professional organization of practicing Certified Public Accountants (CPA’s). Because of the industrial growth, its capital markets and after the great depression of 1929, the federal government established the Security and Exchange Commission (SEC) to protect stockholders investments. However, the SEC discovered that many non-public trade organizations did not fall under their security laws and their jurisdiction and they developed a two part sectors, AICPA, and the Financial Accounting Standard Board (FASB) to establish, and improve accounting standards and principles. The FASB is working on a standard that defines...
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