...Lesson 1 Chapter 1 LIFA 1.1 WHAT IS ACCOUNTING? · Accounting- an information system that identifies, measures, records and communicates understandable, relevant, reliable, and comparable information about an organization’s economic activities. · Recordkeeping, or bookkeeping, is the recording of financial transactions, either manually or electronically, for the purpose of creating a reliable bank of data · Primary objective of accounting- to provide useful info for decision-making · Accounting info results from the accounting activities of identifying, measuring, recording, reporting, and analyzing economic transactions. 1. What is the major objective of accounting? · Accounting is an information and measurement system that identifies, measures, records, and communicates understandable, relevant, reliable, and comparable information to people that helps them in making better decisions. It helps people in business to identify and react to investment opportunities, and better assess opportunities, products, investments, and social[->0] and community responsibilities. 2. Distinguish between accounting and recordkeeping. · Recordkeeping is the recording of financial transactions and events, either manually or electronically. While recordkeeping is essential to data reliability, accounting is this and much more. Accounting includes identifying, measuring, recording, reporting, and analyzing economic events and transactions. It involves interpreting information, and designing...
Words: 5455 - Pages: 22
...Requirements for Task 1: A Prepare a summary report in which you do the following: 1) Evaluate the company’s operational strengths and weaknesses based on the following: a) Review the horizontal analysis, analyze the results, and discuss operational areas of concern. “Horizontal analysis of financial statements involves comparison of a financial ratio, a benchmark, or a line item over a number of accounting periods. This method of analysis is also known as trend analysis. Horizontal analysis allows the assessment of relative changes in different items over time. It also indicates the behavior of revenues, expenses, and other line items of financial statements over the course of time.” (Ready Ratios, 2014a) The sections below summarize the results of my horizontal analysis of Competition Bikes, Inc. (CB): Year 7 to Year 8 CB suffered a decrease in Net Sales Revenue of 15% from Year 7 to Year 8, but the course materials explained this as a result of a decline in the overall economy. This is a reasonable explanation and may very well indicate that CB management’s actions or inactions are not to blame for decline. It is encouraging that percentage decreases in Cost of Goods Sold and Selling Expenses, 14.5% and 14.9%, respectively, approximated the 15% decrease in Net Sales indicating no significant change in marginal cost of production and sales. That total General and Administrative Expenses increased by 1.2% is not any cause for...
Words: 10434 - Pages: 42
...particularly a bibliometric study of the contents of the ASCE Journal of Management in Engineering (JME), as a case study of the CEM refereed journals. The JME’s contents were investigated from its onset in 1985 until 2002. The results of the analysis show that 70% of the published papers focused on four main subjects: management and organization of the firm, project management, industry structure and environment, and management of personnel. Considerable changes occurred within the subjects with the emergence of new topics and the decline of others over the eighteen years of publication. The study also analyzed the use of keywords, research methods, and identified authors, and the concentration of knowledge. The JME is mainly concerned with the managerial aspects of engineering, while ASCE Journal of Construction Engineering and Management (JCEM) focuses more on construction and technical issues. Additional studies of the JCEM’s contents should be conducted for a complete mapping of the discipline in the USA. ii Acknowledgements “All praise is due to Allah, the Lord of the...
Words: 24458 - Pages: 98
...au Copyright materials contained herein have been reproduced under the provisions of the Copyright Act 1968, as amended, or with the permission of the copyright owner. This material may not be reproduced in any manner whatsoever except for the purposes of individual study. University Provider Number 00025B © The University of Queensland contents Contents Module 1 Introduction to electronic commerce Objectives Basic elements of electronic commerce (EC) 1 1 3 Differences between electronic commerce and traditional commerce 5 New ways of doing business with electronic commerce History of electronic commerce (EC) Planning an e-commerce project Legal, ethical and international issues Case study guidelines 6 8 10 10 11 Module 2 Business decision-making and planning for electronic commerce 17 Objectives Planning an e-commerce project Economic models Competitive advantage and electronic marketplaces Transaction cost economics 17 18 29 30 34 Module 3 Technologies for electronic commerce Objectives The Internet and electronic commerce The general structure of the Internet Internet protocols 37 37 38 39 40 Internet services Intranets and extranets Internet connection options The World Wide Web 43 45 48 48 Module 4 Creating a commercial Website Objectives Introduction...
Words: 38720 - Pages: 155
...iii Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web Site: www.amacombooks.org This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Belker, Loren B. The first-time manager / Loren B. Belker, Gary S. Topchik.—5th ed. p. cm. ISBN 0-8144-0821-4 1. Supervision of employees. 2. Office management. I. Topchik, Gary S. II. Title. HF5549 .12 .B453 2005 658.3 02—dc22 2004019486 2005, 1997, 1993, 1986, and 1981 AMACOM, a division of American Management Association, New York. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior...
Words: 65840 - Pages: 264
...Responses to Review Questions Answer One What are the factors that influence a company's decision to go abroad? Please explain how these are related to each other. In the discussion on the internationalisation process of a firm, the product life cycle model plays a major role. Please explain and discuss the usefulness this model. (A) Generally, the first decision to go abroad is a specific one. It is a decision to look at the possibility of a specific investment in a specific country, not a general decision to look around the globe for investment opportunities. At this stage the organisation has no experience with the complexities of foreign investment, although it often has had some export experience. There are no standard operating guidelines, which can be given to deal with these complexities. What is needed mostly is a strong push and/or commitment to go abroad. A company benefits from these earlier experiences in the subsequent investment decisions. The organisational factors include: • role of the management • motives of the organisation • success at home Other than these internal forces, a number of factors in the environment, outside the organisation, may also force a company to go abroad. These drivers of internationalisation may include: • unsolicited proposal that cannot be ignored. These may include proposals from a foreign government, distributor or customer • competitive drive or bandwagon effect following other competitors or a general belief...
Words: 8082 - Pages: 33
...www.elsevier.com/locate/worlddev World Development Vol. 30, No. 9, pp. 1539–1560, 2002 Ó 2002 Elsevier Science Ltd. All rights reserved Printed in Great Britain 0305-750X/02/$ - see front matter PII: S0305-750X(02)00058-X Women in Sustainable Development: Empowerment through Partnerships for Healthy Living CLAUDIA MARA VARGAS * I University of Vermont, Burlington, USA Summary. — This article seeks to take partnerships seriously. Specifically, it is concerned with the nature, opportunities, and challenges facing women’s nongovernmental organization (NGOs), which seek to make real contributions to sustainable development. It uses a case study of COFERENE, a successful women’s NGO in Costa Rica, to explore the nature of partnerships, the contextual factors that shape them, the successes that can be realized from their wise use, and the potential problems that may arise. There are lessons, both optimistic and cautionary, to be learned from COFERENE’S experiences. This article analyzes these lessons. In synthesis, partnerships are complex and demanding, though there are cases in which women’s NGOs have used them effectively to foster sustainable development. Ó 2002 Elsevier Science Ltd. All rights reserved. Key words — geographical focus: global, country specific: Costa Rica, sustainable development, partnerships, culture, nonprofits A woman said that her father was a street sweeper. If some people consider this a humble job, her opinion was that a person who has the job of...
Words: 14873 - Pages: 60
...publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2006 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Hardcover-Design: Design & Production, Heidelberg SPIN 11543282 43/3153-5 4 3 2 1 0 ± Printed on acid-free paper Foreword Hans-Joachim Körber Chief Executive Officer of METRO AG In general, retailing is perceived as a...
Words: 158632 - Pages: 635
...Meteorological Instruments and Methods of Observation WMO-No. 8 Guide to Meteorological Instruments and Methods of Observation WMO-No. 8 Seventh edition 2008 WMO-No. 8 © World Meteorological Organization, 2008 The right of publication in print, electronic and any other form and in any language is reserved by WMO. Short extracts from WMO publications may be reproduced without authorization, provided that the complete source is clearly indicated. Editorial correspondence and requests to publish, reproduce or translate this publication in part or in whole should be addressed to: Chairperson, Publications Board World Meteorological Organization (WMO) 7 bis, avenue de la Paix P.O. Box No. 2300 CH-1211 Geneva 2, Switzerland ISBN 978-92-63-10008-5 NOTE The designations employed in WMO publications and the presentation of material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of WMO concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Opinions expressed in WMO publications are those of the authors and do not necessarily reflect those of WMO. The mention of specific companies or products does not imply that they are endorsed or recommended by WMO in preference to others of a similar nature which are not mentioned or advertised. Tel.: +41 (0) 22 730 84 03 Fax: +41 (0) 22 730 80 40 E-mail: publications@wmo.int ...
Words: 216230 - Pages: 865
...TOTAL QUALITY MANAGEMENT AND SIX SIGMA Edited by Tauseef Aized Total Quality Management and Six Sigma http://dx.doi.org/10.5772/2559 Edited by Tauseef Aized Contributors Aleksandar Vujovic, Zdravko Krivokapic, Jelena Jovanovic, Svante Lifvergren, Bo Bergman, Adela-Eliza Dumitrascu, Anisor Nedelcu, Erika Alves dos Santos, Mithat Zeydan, Gülhan Toğa, Johnson Olabode Adeoti, Andrey Kostogryzov, George Nistratov, Andrey Nistratov, Vidoje Moracanin, Ching-Chow Yang, Ayon Chakraborty, Kay Chuan Tan, Graham Cartwright, John Oakland Published by InTech Janeza Trdine 9, 51000 Rijeka, Croatia Copyright © 2012 InTech All chapters are Open Access distributed under the Creative Commons Attribution 3.0 license, which allows users to download, copy and build upon published articles even for commercial purposes, as long as the author and publisher are properly credited, which ensures maximum dissemination and a wider impact of our publications. After this work has been published by InTech, authors have the right to republish it, in whole or part, in any publication of which they are the author, and to make other personal use of the work. Any republication, referencing or personal use of the work must explicitly identify the original source. Notice Statements and opinions expressed in the chapters are these of the individual contributors and not necessarily those of the editors or publisher. No responsibility is accepted for the accuracy of information contained...
Words: 105584 - Pages: 423
