The document discusses the five major accounts in accounting:
1) Assets - resources controlled by a business from past transactions that are expected to provide future economic benefits. Examples include cash and inventory.
2) Liabilities - obligations of a business arising from past transactions that are expected to result in an outflow of resources. Examples include accounts payable and loans payable.
3) Equity - the residual interest in the assets of an entity after deducting all its liabilities, known as owner's equity or net assets.
4) Revenue - increases in economic benefits in the form of inflows that result in increases in equity.
5) Expenses - decreases in economic benefits in the form of
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1.pptxRoseBantiyan
HISTORY OF ACCOUNTING Accounting started as a simple recording of repetitive exchanges. The history of accounting is often seen as indistinguishable from the history of finance and business. It has evolved in response to various social and economic needs of men over 5,000 years- its origins can be tracked back to the beginning of time.
Accounting is the process of documenting a company's financial transactions. Accounting entails summarizing, evaluating, and reporting these transactions to oversight organizations, regulators, and tax collecting agencies.
IB Business and Management (Standard Level)
All material taken from the IB Business and Management Textbook:
"Business and Management", Paul Hoang, IBID Press, Victoria, 2007
Must Know Basic Accounting Terms in 2023 | Academy Tax4wealthAcademy Tax4wealth
To understand the basic accounting concept in 2023, you must be familiar with the fundamental accounting terms. You will learn nearly all of the fundamental definitions required when studying accounts from Academy Tax4wealth. Learn more!
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Must Know Basic Accounting Terms in 2023 | Academy Tax4wealthAcademy Tax4wealth
To understand the basic accounting concept in 2023, you must be familiar with the fundamental accounting terms. You will learn nearly all of the fundamental definitions required when studying accounts from Academy Tax4wealth. Learn more!
For more info, visit us at:-
https://academy.tax4wealth.com/blog/basic-accounting-terms
Please respond in 150 with what you understand from the reading bel.docxDIPESH30
Please respond in 150 with what you understand from the reading below
Financial and Business Planning
CHAPTER OVERVIEW
The business planning of startups is often summarized in a document called the business plan. However, it is important to understand that business planning is much broader than the business plan document. This chapter reviews the main aspects of the general business planning process, while emphasizing the factors that are important to early stage companies.
The first part of the chapter discusses the company's business cycle and the manner of presenting information in the financial statements. Understanding the principles underlying the financial statements, the manner of preparing them, and the presentation of the data is essential to anyone involved in the high tech industry in general, and to persons engaged in business planning in particular. The second part of this chapter reviews the main methods of financial forecasting. The last part of this chapter reviews other issues relating to strategic planning and reviews the business plan, which is one of the products of business planning.
The Company's Business Cycle
Understanding the company's business cycle is important for financial forecasting and for understanding the company's cash flow.
Figure 3-1
presents the business cycle of a typical company: The company's equity providers or debt holders infuse money (in the form of capital and debt, respectively) into the company's cash account. This cash is used by the company to pay for services, salaries (human capital), and raw materials for the production process and to purchase production equipment. The human capital and the raw materials are used for the development and production (through means of production such as machinery and computers) of services and products. Products pass through the company's inventory and are sold to customers, and services are provided to customers directly. Customers either pay for the products or services in cash or receive credit from the company that is paid later. At the end of each period (cycle), any cash not returned to the company's debt holders is paid to the tax authorities, distributed to the shareholders in the form of dividends, or is re-invested in the company to allow further business cycles.
Figure 3-1 The Company's Business Cycle
Financial Statements
The company's business cycle is reflected in its financial statements; the main ones are the company's balance sheet, income statement, and cash flow statement. The company's financial statements provide information about its financial condition: The main purpose of the balance sheet is to describe the assets and liabilities of the company on a given date; the main purpose of the income statement is to describe the transactions and changes in the assets and liabilities of the company over a period of time; and the cash flow statement describes the changes in the company's cash flow over a period of time.
The company's fi.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
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A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
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Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
12. -are identification or brief
description of items that fall
to the same kind, class or
nature.
13.
14. -resources controlled by the business as a
result of past transactions and events and from
which future economic benefits are expected to
flow to the business.
15. refer to
by the company.
Example:
- Cash -Notes Receivable
- Accounts Receivable -Unused supplies
16. -are presented obligations of an entity
arising from past transactions or events, the
settlement of which is expected to result in an
outflow from the business of resources
embodying economic benefits.
19. -refers to the increase in economic benefits
during the accounting period in form of
inflows or enhancement of assets or decrease of
liabilities that result in increase in equity
20. -are decrease in economic benefits during
the accounting period in the form of outflows
or depletion of assets.
21. How can you classify
anything in your
household according
to its account types?
