Accounts Is More than Just Crunching Numbers
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If you want to opt for business as a career, you are supposed to be aware of each and everything associated with it. Most importantly you need to understand the language of business. Educating yourselves in managing your finances and also making a professional living out of it is always a good choice.
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Chapter 14: Financial Statement Analysis
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Chapter 1- Introduction to Accounting
Question 1: How does the business maintain its financial records? Who does the accounting for the business? What accounting or record system is used?
Business Owner: Keep recording every single income and output in the company and be sure to make everything be legal. The accountant will do the accounting things. Everything would be recorded on the book and then upload into the computer data.
Business Owner answer converted to text-book language: The collection, processing and reporting of data used to make business decisions are critical. Both internal and external users use the accounting information, analysis completed and reports generated. They would use the managerial accounting, income statement, balance sheet, owners equity, cash flow statements, and
Recommendation: Make sure to record every data by some modern technology such as computers and do not only let the accountants do the accounting for you, but also let everyone who engaged into your business understands some concepts of accounting to make some correct business decisions.
Question 2: Who periodically review and analyzes the accounting records? What reports are generated? How are they used to manage the business?
Business Owner: Managers and the superiors will periodically review and analyzes the accounting records. Those reports include all the income and output that has been used in the past time. They are used to record everything and make sure everything be legal.
Business Owner answer converted to text-book language: The internal users include managers, officers, internal auditors, sales staff, budget officers, controllers and employees would periodically review and analyzes the accounting records. The businesses assets, liabilities and owners equity as the last day of an accounting period are generated. They are used to produce the various business analysis and make business decisions.
Recommendation: Everyone in the company should know some knowledge to face some emergency situations. Especially for managers and officers, they should review and analyzes the records every month or even every week because the accounting reports periodically record the profit and deficit that the company made. Those are really important for the owners to control the company’s economy.
Question 3: How well do you understand the financial reports generated by your accounting system? How well do you utilize the information to make business decisions?
Business Owner: I understand that the financial reports clearly record my company’s profit they made in the past. The information that I have will lead me to think more about its back meaning so that I can make decisions.
Business Owner answer converted to text-book language: Accounting is an informative system that.
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The document provides information about a shock price group that aims to provide quality goods and services at preferential prices. It discusses the group's mission statement, customers, and what makes them unique. The group aims to help dreams of affordable luxury become true. Their customers include people of all ages. They are the first group in their field to focus on customers' desires to purchase quality goods and services at low prices.
The document also discusses strategic plans and job descriptions for various roles within the company. It outlines problems with competitors and plans to address these issues by cooperating with smaller competitors. It provides timelines for implementing solutions and outlines goals, responsibilities, and qualifications for accounting, human resources, marketing, and customer service manager positions.
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- Their purpose is to improve clients' lives by taking away stress with cost-effective accounting and helping entrepreneurs build successful businesses.
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Business Evaluation Workshop
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Succession Planning
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Buying a Business
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2) The second part of the document summarizes a presentation on business intelligence warehouses and OLAP (online analytical processing). It describes the process of extracting and structuring data from a data warehouse for analysis.
3) The third part of the document provides notes on changing roles of HR, including talent retention, process improvement, leadership development, and trends like managing a global workforce.
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The document summarizes a portfolio for a class project. It includes the mission statement, action plan, job descriptions, and strategic plans for various roles within the company. The mission is to provide quality products and services at preferential prices. The action plan addresses the main competitor, who has 30% of the market share, and plans to acquire two smaller competitors to strengthen their position. Job descriptions are provided for an accountant role. Strategic plans are given for roles in human resources, marketing, finance, and customer service management. The overall goal is to satisfy customers and achieve the best performance and profits.
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ACC560 Week 10 Homework:
Chapter 14: Financial Statement Analysis
E14-11 Wiemers Corporation’s comparative balance sheets are presented below.
Honghao Lu
February 7 2016
Chapter 1- Introduction to Accounting
Question 1: How does the business maintain its financial records? Who does the accounting for the business? What accounting or record system is used?
Business Owner: Keep recording every single income and output in the company and be sure to make everything be legal. The accountant will do the accounting things. Everything would be recorded on the book and then upload into the computer data.
Business Owner answer converted to text-book language: The collection, processing and reporting of data used to make business decisions are critical. Both internal and external users use the accounting information, analysis completed and reports generated. They would use the managerial accounting, income statement, balance sheet, owners equity, cash flow statements, and
Recommendation: Make sure to record every data by some modern technology such as computers and do not only let the accountants do the accounting for you, but also let everyone who engaged into your business understands some concepts of accounting to make some correct business decisions.
Question 2: Who periodically review and analyzes the accounting records? What reports are generated? How are they used to manage the business?
Business Owner: Managers and the superiors will periodically review and analyzes the accounting records. Those reports include all the income and output that has been used in the past time. They are used to record everything and make sure everything be legal.
Business Owner answer converted to text-book language: The internal users include managers, officers, internal auditors, sales staff, budget officers, controllers and employees would periodically review and analyzes the accounting records. The businesses assets, liabilities and owners equity as the last day of an accounting period are generated. They are used to produce the various business analysis and make business decisions.
Recommendation: Everyone in the company should know some knowledge to face some emergency situations. Especially for managers and officers, they should review and analyzes the records every month or even every week because the accounting reports periodically record the profit and deficit that the company made. Those are really important for the owners to control the company’s economy.
Question 3: How well do you understand the financial reports generated by your accounting system? How well do you utilize the information to make business decisions?
Business Owner: I understand that the financial reports clearly record my company’s profit they made in the past. The information that I have will lead me to think more about its back meaning so that I can make decisions.
Business Owner answer converted to text-book language: Accounting is an informative system that.
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The document provides information about a shock price group that aims to provide quality goods and services at preferential prices. It discusses the group's mission statement, customers, and what makes them unique. The group aims to help dreams of affordable luxury become true. Their customers include people of all ages. They are the first group in their field to focus on customers' desires to purchase quality goods and services at low prices.
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Astronomy is the study of ethereal objects and phenomena that befalls outside the earth’s atmosphere. Astronomy is termed as one of the oldest forms of sciences. The presentation focuses on career paths in astronomy, it’s significance, types of astronomy and labor statistics in the astronomy career field.
LEARN THE INTERESTING ASPECTS OF FINNISH LANGUAGE
Finnish is a Finnic language spoken mainly in Finland and Sweden. Finnish belongs to the Finnic branch of the Uralic language family. The presentation focuses on the importance of learning the Finnish language, some tips to learn the language, some captivating facts about the language, and its on-going demand globally.
SPANISH: A ROMANTIC LANGUAGE
Spanish is a romance language that has been derived from vulgar Latin. Spanish is a Romance language that has enhanced its importance up to a level that today there are nearly 470 million speakers in America and Spain. Watch this presentation to attain significant knowledge of the Spanish language, its importance, its growing demand, some tips to learn Spanish language and, some fascinating facts about the language.
How can Asian studies be a good career option?
Asian Studies is the interdisciplinary study of Asian peoples, cultures, histories, religions, and societies. It has several branches including South Asian Studies, Southeast Asian Studies, East Asian Studies, Middle Eastern Studies, and Central Asian Studies. Studying Asian Studies provides skills in language learning, an understanding of social and economic developments, and knowledge of political and cultural histories that can lead to careers as a translator, international marketer, or advisor working in Asian markets and regions. Salaries in these fields range from $49,930 annually for translators and interpreters to $88,890 for financial advisors and marketing specialists.
WHY IS JAPANESE LANGUAGE SO IN DEMAND?
Japanese language services have become extremely important in social and business settings. More than 130 million people speak Japanese. This presentation highlights the significant knowledge of the Japanese language, its importance, its growing demand, some tips to learn the Japanese language and, the time taken to learn the language.
ABOUT STATISTICS
Statistics is the scientific and mathematical analysis that uses quantified models, representations, etc. for collecting, interpreting, analysing and presenting empirical data. The presentation focuses on the significance of statistics, statistics as a career choice, varied career paths in statistics, various data types in statistics, etc.
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This document discusses the field of political science. It defines political science as the study of governance, politics, and government. The document outlines the importance of political science in inculcating knowledge about states and global events. It also lists some of the main subfields that make up political science, including comparative politics, political theory, and international relations. Finally, the document discusses some common career paths for political science majors, such as policy analysts, legislative assistants, and political consultants.
The Instruction Manule To Biology
Biology is the scientific study of living organisms which includes their evolution, structure, function, growth, and origin. The presentation focuses on importance of biology, career in biology, labor statistics, the inter-connectedness of biology with other sciences, etc.
UNDERSTANDING OF GEOLOGY
Geology is termed as the study of the Earth, the materials of which it is made, the structure of those materials, and the processes or reactions acting upon them. The presentation focuses on types of Geology, what do Geologists do, career in Geology, employment outlook, etc.
Various aspects of Computer science.
Description: In this rapidly growing world, computer science is running parallel to the developments. Computer science deals with the study of computed data, program, and related applications. In this presentation, we’ll learn about this field and the various professions one can undertake in life. These insights about computer science would make it sorted for you.
How Literature is considered the most creative study?
Literature is a historic and creative fold that helps in the preservation of folklore and extends them to the commoners. The presentation gives a glimpse of how it provides a comparative analysis of the Platonic, Neo-classic, revolutionary, post-revolutionary, and modern times. It also gives an account of how one should major in it, so as to develop a creative psyche.
LEARN THE CONCEPTION OF RELIGIOUS STUDIES
Religious studies revolve around the concepts of ultimate values derived from varied cultures and traditions. It also focuses on the association of these values with our worldly lives. The presentations brings light on the scope of religious studies, its significance, the career paths in religious studies, the things you didn’t know about the course, etc.
Learn about the trends in Accounting
Accounting is termed as the systematic record of recording financial transactions, maintaining financial records and communicating financial information of a business firm. The presentation concentrates mainly on the functions of accounting, fields in accounting, career paths in accounting, labor statistics, accounting ethics, etc.
All about the study of Communication.
Communication is the process of transmission of information and feelings between two individuals or groups through signs, symbols, gestures, sound signals, or written account of it. It is important to learn the various aspects of getting a major in Communication. In this presentation, we’ll learn about the reasons to study communication and its career scopes.
Important concepts about organic chemistry.
This presentation covers the study of organic chemistry. It is a sub-discipline of chemistry which is a property of organic compound which has a unique character and has different classifications. Organic chemistry helps to determine the chemical composition and formula. It includes Physical and chemical properties such as solubility, melting point, boiling point, solid state, etc. The organic compounds are classified into various types including heterocyclic, aromatic, aliphatic, polymers, biochemical, etc.
An account of business study.
In this presentation, we will learn about the study of business. It encompasses the organization of people, working towards the development of both goods and a band of satisfied customers. It is a diverse forum including types such as accounting, Finance, marketing, real estate, business management and administration, human resources management, and business communication. The presentation also covers the various fields in business, their salary and career prospects.
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- 2. What is accounting and Why you should consider achieving expertise in this. www.homeworkminutes.com -Accounting, has been called the "language of business", measures the results of an organization's economic activities & conveys this information to a variety of users, including investors, creditors, management, and regulators. -With jobs in IRS, Fund Accountancy, Charted Accountant & many more to go into, be assured your hard work will reap more benefits than you can think of, these are some of the highest paying jobs one can think of.
- 3. www.homeworkminutes.com Choose accounting, Your Way -Major types of accounting 1.Financial accounting(Financial accounting is primarily concerned in recording and analyzing historical data.) 2. Managerial Accounting(Managerial accounting deals in financial analysis, budgeting and forecasting, evaluation of business decisions. 3. Cost Accounting(Cost accounting analyzes the difference between actual cost with estimated cost and helps in deciding what the budget should be.)
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