Concepts in Accounting and Developing Financial Statements

Concepts in Accounting and Developing Financial Statements There are likely to be various user groups with an interest in a particular organisation, in the sense of needing to make decisions about that organization. User group Competitors they use for: to assess the threat to sales and profits posed by those businesses. To provide a benchmark against which the competitors performance can be measured Employees (non-management) to assess the ability of the business to continue to provide employment and to reward employees for their labour Government to assess how much tax the business should pay, whether it complies with agreed pricing policies and whether financial support is needed. Community representatives to assess the ability of the business to continue to provide employment for the community and purchase community resources. To assess whether the business could help fund environmental improvements. Investment analysts to assess the likely risks and returns associated with the business in order to determine its investment potential and to advise clients accordingly. Suppliers to assess ability of the business to pay for the goods and services supplied. Lenders to assess the ability of the business to meet its obligations and to pay interest and to repay the mount borrowed. Managers to help make decisions and plans for the business and to exercise control so that the plans come to fruition. Owners to assess how effectively the managers are running the business and to make judgements about lively levels of risk and return in the future. There may be conflicts of interest arising between the various user groups over the ways in which the wealth of the business is generated and/or distributed. For example, a conflict of interest may arise between the managers and the owners of the business. Although managers are appointed to act on behalf of the owners, there is always a risk that they will put their own interests first. They may use the wealth of the business to furnish large offices, buy expensive cars or whatever. Accounting information has an important role to play in reporting, the extent to which various groups have benefited from the business. Thus, owners may rely on accounting information to check whether the pay and benefits of managers are in line with agreed policy. A further example of potential conflict is between owners and lenders. There is a risk that the funds loaned to a business will be used for purposes that have not been agreed. Concepts used in financial statement are: a) Money measurement concept accounting normally deals with only those items that are capable of being expressed in monetary terms. Money has the advantage that it is a useful common denominator with which to express the wide variety of recourses held by a business. However, not all such resources are capable of being measured in monetary terms and so will be excluded from a balance sheet. The money measurement concept, thus, limits the scope of accounting reports. b) Historic cost concept Assets are shown on the balance at a value that is based on their historic cost (that is, acquisition cost). This method of measuring asset value has been adopted by accountants in preference to methods based on some form of current value. Many commentators find this particular convection difficult to support as outdated historic cost are unlikely to help in the assessment of current financial position. It is often argued that recording assets at their current value would provide a more realistic view of financial position and would be relevant for a wide range of decisions. However, a system of measurement based on current values can present a number of problems. c) Going concern concept The going concern concept holds that a business will continue operations for the foreseeable future. In other words, there is no intention or need to sell off the assets of the business. Such a sale may arise when the business is in financial difficulties and it needs cash to the creditors. This convention is important because the value of fixed assets on sale is often low in relation to the recorded values, and an expectation of having to sell off the assets would mean that anticipated losses on sale should be fully recorded. However, where there is no expectation of the need to sell off the assets, the value of fixed assets can continue to be shown at their recorded values (that is, based on historic cost). This concept, therefore, provides support for the historic cost concept under normal circumstances. d) Business entity concept For accounting purposes, the business and its owner(s) are treated as quite separate and distinct. This is why owners are treated as being claimants against their own business in respect of their investment in the business. In the business entity concept must be distinguished from the legal position that may exist between businesses and their owners. For sole proprietorships and partnerships, the law does not make any distinction between the business and its owner(s). For limited companies, on the other hand, there is a clear legal distinction the business and its owners. For accounting purposes, these legal distinctions are irrelevant and the business entity convention applies to all businesses. e) Dual aspect concept each transaction has two aspects, both of which will affect the balance sheet. Thus, the purchase of a motor car for cash results in an increase in one asset (motor car) and a decrease in another (cash). The repayment of a loan results in the decrease in liability (loan) and the decrease in asset (cash/bank) f) Prudence The prudence concept holds that financial statements should err on the side of caution. The concept evolved to counteract the excessive optimism of some managers and owners, which resulted, in the past, in an overstatement of financial position. Operation of the prudence concept results in the recording of both actual and anticipated losses in full, whereas profits are not recognised until they are realized (that is, there is reasonable certainty that the profit will be received). When the prudence concept conflicts with another concept, it is prudence concept that will normally prevail. g) Stable monetary unit concept the stable monetary unit concept holds that money, which is the unit of measurement in accounting, will not change in value over time. However, in the UK and throughout much of the world, inflation has been persistent problem over the years and this has meant that the value of the money has declined in relation to other assets. In past years, high rates of inflation have resulted in balance sheets, which are drawn up on a cost basis, reflecting figures for assets, that were much lower than if current values were employed. The value of freehold land and buildings, in particular, increased rapidly during much of the 1970s, 1980s and 1990s, at least partly as a result of reduction in the value of each  £1. Where land and buildings were held for some time by a business, there was often a significant difference between their original cost and their current market value. This led to the criticism that balance sheet values were seriously understanded and, as a result, some businesses broke away from the use of historic cost as the basis for valuing this particular asset. Instead, freehold land is periodically revalued in order to provide more realistic statement of financial position. Although this represents a departure from accounting concept, it is a practice that has become increasingly common. h) Objectivity concept the objectivity concept seeks to reduce personal bias in financial statements. As far as possible, financial statements should be based on objective, verifiable evidence rather than matters of opinion. i) Separate determination concept the separate determination concept refers to in determining the aggregate amount of each asset or liability, the amount of each individual asset or a liability should be determined separately from all other assets and liabilities. j) Substance concept the substance over form holds if legal form of the transaction differs from its real substance, accounting should show the transaction in accordance with its real substance, i.e., how the transaction affects the economic situation of the business.

Houston Crime Stopper Proposal Essay

Description: This Crime Stopper Awareness presentation will be given to a small group of family and friends. This presentation is based on informing the audience members about the Crime Stoppers Organization in hopes of raise their awareness of Crime Stoppers and to get them more involved in stopping crime in our area. It is an opportunity for the audience members to learn about the many accomplishments of Crime Stoppers, and what makes this organization so successful. The audience will come to understand about how Crime Stoppers is able solve crimes and reduce the crime rates in the area. There will also be a segment focusing on the Safe School Program and how audience members can also get involved to help fight crime. All information in this presentation was obtained from the Crime Stoppers website: www.crime-stoppers.org Crime Stoppers Awareness Presentation The first Crime Stoppers program was implemented in New Mexico in 1976 and they have been growing ever since. Today there are over 3100 Crime Stoppers chapters across the United States, and an additional 1000 more scattered throughout other areas of the world. The Houston Crime Stoppers program was set up by local businesses in 1981 due to the increased level of crime in the greater Houston area. Crime Stoppers is a community-based program that works with law enforcement to solve crimes, ensure safer neighborhoods and schools for our children and also to provide people with the tools they need to help create a safer community. Houston Crime Stoppers has not only had a big impact on Houston, but also on other parts of the world. Thus, 10% of all worldwide arrests have come from tips that came in through the Houston chapter. For example, in 2007 Houston Crime Stoppers was responsible for solving over 30,000 crimes and received tips that led to 25,000 felony arrests. Also, Crime Stoppers has paid out over $10 million in rewards for tips leading to successful arrests. All the money Crime Stoppers has paid out is dependent on the donation from the community and fund raising events held by Crime Stoppers such as their â€Å"Brighter Tomorrow Gala†. Crime Stoppers goal is to create a safer community by helping to capture criminals and get them off Houston streets. In 2012, Crime Stoppers help to led to 684 felons arrests and solve 751 crimes such as: 18 murders, 10 capital murders, 79 robberies and 32 burglaries. Also, there were 34 cases solved in 2012 involving sex crimes against children. In addition, since 2007 Houston Crime Stoppers has assisted in helping to put criminals behind bars, to date the totaling jail time is 10,859 years in prison, 45,018 days in county and 24 life sentences. All these criminals were arrested, taken off the streets, and incarcerated thanks to the tips received from the community trying to stop crime. Another important program sponsored by Crime Stoppers is their Safe School Program that was started in 1997 and their motto is â€Å"Safe School Program is to cultivate and educate the youth of today and prevent the crimes of tomorrow†. This program has helped to remove guns from schools and in 2011 and 2012, Crime Stoppers helped solve 186 school related crimes. The goal is to not only fight the crimes occurring at public schools but also to educate students and thus far, Safe School, has provided over 1,000,000 students with safety training. This not only cuts down on crimes within the schools, it also leads to fewer student dropouts. Safer school led to safer neighborhoods, which increases property values and community job growth in the area. Therefore, protecting your children, schools and neighborhood from crime is an investment to the entire community! Crime Stoppers has been so successful not only because they work with law enforcement, but also due to the support they receive from the community. It is the tips from everyday people that allow the crimes to be solved and for the criminals to be apprehended. For instance, in the past many people had been afraid to contact the police to report information about a crime for the fear of retaliation or from fear of consequences from law enforcement. The key element in reporting tips to Crime Stoppers is that the individuals can remain anonymous; no questions asked. Also, any tip that results in a felony arrest, Crime Stoppers will pay a reward of $5,000 in cash, and again, no questions asked! By offering this reward incentive and allowing people to report their tips anonymously, more information is being reported, and more crimes are getting solved. Crime Stoppers is able to receive tips several way: by phone through their tip line at 713-222-TIPS, and also by text and email. So, Crime Stoppers offers a cash incentive for reporting tips and in doing so, have made it safe from anyone’s identity being revealed and easy for the various channels tips to be reported. In addition, Crime Stoppers has several other active programs in the efforts of making the greater Houston area safer. The newest society is Mothers Against Crime, which started in 2006 in hopes for safer neighborhoods for our children. Also, Crime Stoppers and the Gulf Coast Offenders Task Force have launched a campaign in arresting criminals with outstanding warrants for crimes against children. All that Crime Stoppers are able to do cannot be done without the involvement of the community, and the financial support of local businesses and individuals. Therefore, to help stop crime in our area please join in the fight with Crime Stoppers by getting involved in their local programs and/or donate to Crime Stoppers to help them continue to make Houston a safer place to live. It takes everyone in the community, working together to fight crime! Thank you.

The Unusual Mystery Into Environmental Essay Samples

The Unusual Mystery Into Environmental Essay Samples Use of water is an additional important aspect in regard to the environment. Introduction The Environment is the primary resource for tourism. Forests are the principal lungs of the Earth and the most important atmosphere for a wide array of animals, birds and insects. The caliber of the environment, both natural and man-made, is important to tourism. The majority of the living species rely on the water body to call home, therefore it is quite essential to control the water pollution. The contamination of the living environment contributes to the deaths of the whole all-natural ecosystems. Animal and plant biota don't have dates related to them. An environmental problems essay must also concentrate on how best to encourage individuals to safeguard their environment, and the advantages of this kind of endeavor. You can get in touch with your writer through our support department should you need to specify some vital points to earn your work more customized. It is extremely important to be sure it stays clean so as to live healthier and peaceful life. From time to time, you might also be happy to do the job, you have the wisdom and the skills, but you do not have the time. Part of their work is to receive communities prepared to confront the challenges caused by climate change. More than that, the issue needs to be resolved on a worldwide level by the united efforts of the international community. Environmental problems ought to be handled by the united efforts of the international community. There are not any minor remarks. Whenever your deadline is tight, you will likely write us nervously write my essay and think we'll see what you need from 1 sentence. You receive a preview of your essay and ask to create corrections if necessary. Students may seek out professional writers' or writing agencies' help to acquire their essays written in a customized format. The majority of the moment, they are asked to write argument papers that present a particular point of view and attempt to persuade the audience. New Questions About Environmental Essay Samples There are many effective solutions that could help us to fix the problem of pollution in our environment. Ultimately, the general public needs to be encouraged to boycott products created by Palm Oil companies. Some people believe that the very best way to fix environmental problems is to raise the amount of fuel for cars and other vehicles. Today, sustainable materials are somewhat more high tech with fantastic innovation behind them, states Primoz. The New Angle On Environmental Essay Samples Just Released Environmental sustainability is truly about preserving the planet's resources for future generations. The campus is anticipated to grow drastically over t he subsequent ten decades, with a new residence built and a number of other new buildings to be constructed in the forseeable future. Science should serve society, as opposed to corporate and political interests. The Start of Environmental Essay Samples The invasion of private space makes a good deal of people uncomfortable. When it is constantly violated it can cause anxiety for people. Most people in densely populated areas don't have land they can protect. It is extremely important to explore the many different forms of pollution and all probable methods of their prevention as a way to make our planet a safe spot for the increase and development of all living things. Ideas, Formulas and Shortcuts for Environmental Essay Samples There are many environmental issues in cities that it might be hard to pinpoint certain causes of anxiety. Tourism is based on the environment because environment is a significant tourist attraction. Individuals must remember that nature is at th e border of the catastrophe. Also, there are several human diseases brought on by water pollution. The effect of environmental pollution is dependent widely on the kind of pollution that's causing it. For instance, it cannot be fully controlled with the current population. With time, environmental pollution was connected to different kinds of cancer. Ifenvironmental pollution increases at exactly the same pace, it is going to allow it to be difficult for future generation to survive. Type of Environmental Essay Samples The paper must give the impression you know what you're doing. The aforementioned essay can be concluded by saying that it is quite vital to look at the increasing use of technical equipments to boost the caliber of air. Order your paper today and revel in the time spared! Folks feel the need, not just for primary essentials, like a slice of bread and a roof above their heads, but in addition for several facilities and luxuries. Ok, I Think I Understand Environmental Essay Samples, Now Tell Me About Environmental Essay Samples! EU environmental legislatio n confers a selection of substantive and procedural rights to citizens which should be upheld by national courts on the grounds of environmental accessibility to justice. Privacy is harder to attain in a densely populated place. Privacy Privacy is the selection of a person to or not to interact with different folks.

Lo que hay que saber sobre la mayoría de edad en EEUU

En Estados Unidos, cada  estado establece la edad de mayorà ­a de edad. Es importante saberla porque  a partir de la misma se considera a una persona como adulta. Si bien hay importantes excepciones para determinados cosas e incluso para efectos migratorios. Por su importancia legal, en este artà ­culo se informa sobre las distintas edades de mayorà ­a segà ºn los estados y cuà ¡ndo, a pesar de ser menores de edad, pueden ser juzgados como adulto. Ademà ¡s, cuà ¡les son los actos que un menor de edad puede hacer con efectos legales y cuà ¡les le està ¡n prohibidos a pesar de ser mayor de edad y, finalmente,  cuà ¡les son los casos en los que la edad determina derechos desde el punto de vista migratorio. Ademà ¡s, se resalta el tema de la edad para consentimiento sexual, ya que si no se respetan las reglas de cada estado, podrà ­a haber problemas. Edad de mayorà ­a de edad en Estados Unidos por estados y Puerto Rico Este es un asunto que regula cada estado. 47 de ellos y el Distrito de Columbia -la ciudad de Washington D.C.- han decidido que la mayorà ­a de edad es a los 18 aà ±os. Sin embargo hay tres importantes excepciones: dos estados han seà ±alado que se alcanza la mayorà ­a de edad a los 19: Alabama y Nebraska. Y uno a los 21: Mississippi. Con independencia del estado, todos los ciudadanos americanos mayores de 18 aà ±os pueden votar en elecciones federales, porque asà ­ lo establece la Constitucià ³n. En el estado libre asociado de Puerto Rico la edad de mayorà ­a de edad quedà ³ fijada en 18 aà ±os. En quà © casos menores de edad pueden actuar como si fueran personas adultas Hay que consultar con las leyes de cada estado, a que hay grandes diferencias entre ellos. Un buen nà ºmero de estados considera que en determinadas circunstancias los menores de 18 aà ±os son mayores de edad, generalmente en casos de: emancipacià ³n judicialmatrimonioestar alistado en el Ejà ©rcito, lo cual es frecuente por sus ventajas. Ademà ¡s, algunos estados conceden capacidad para decidir por sà ­ mismo a los menores en ciertos asuntos. Pero puede darse en situaciones relacionadas con: edad para contraer matrimonio. Si se tienen los aà ±os requeridos en el estado para contraer matrimonio legalmente y se tienen recursos econà ³micos suficientes entonces se puede solicitar la green card para el esposo/a extranjero.capacidad para celebrar cierto tipo de contratosCapacidad para demandar en corte por medio de representante (guardià ¡n, next friend, etc)Capacidad para decidir sobre tratamiento mà ©dico. Edad mà ­nima para puede ser juzgado como juvenil y juzgado como adulto En Estados Unidos, dependiendo de su edad los menores de edad que cometen un delito  pueden: no ser juzgados porque se considera que no tienen capacidadser juzgados como un juvenilser juzgados como un adulto No todos los estados establecen una edad mà ­nima para excluir a los nià ±os de todo tipo de responsabilidad criminal, lo cual significa que pueden ser juzgados independientemente de su edad. Sin embargo, una veintena de estados sà ­ que han establecido una edad mà ­nima. Asà ­ non pueden ser juzgados los menores de 10 aà ±os en Arkansas, Colorado, Dakota del Sur, Kansas, Lousiana, Minesota, Mississippi, Pennsylvania, Texas, Vermont y Wisconsin. Los menores de 8 aà ±os no tienen responsabilidad penal en Arizona, Nevada y Washington. Dicha edad se rebaja a los 7 aà ±os en los casos de Connecticut, Dakota del Norte, Maryland, Massachusetts y Nueva York. Finalmente, los nià ±os pueden ser juzgados en Carolina del Norte a partir de los 6 aà ±os. Los menores de edad, cuando son juzgados, pueden serlo como juveniles o como adultos, es decir, en corte criminal ordinaria. Como regla general, en todos los estados se establece que ninguna persona mayor de 18 aà ±os puede ser juzgada como juvenil. Ademà ¡s, se establece una edad menor a partir de la cual una persona es juzgada como adulto. En los estados de Georgia, Michigan, Missouri, Texas y Wisconsin dicha edad es 16 aà ±os y en todos los demà ¡s estados la edad mà ­nima para ser juzgado como adulto en corte criminal es 17 aà ±os. Resaltar que a partir de octubre de 2020, en el estado de Nueva York los menores de 16 y 17 aà ±os no serà ¡n juzgados automà ¡ticamente como adultos, como està ¡ sucediendo en estos momentos. En todo caso, los 50 estados que componen la Unià ³n Americana tienen leyes que se conocen en inglà ©s con el nombre de transfer laws que permiten que los menores que cometan delitos muy graves, como por ejemplo, asesinato, puedan ser juzgados como adultos con independencia de la edad que tengan. Las modalidades de las transfer laws y sus requisitos varà ­an de estado a estado. Quà © no se puede hacer hasta los 21 aà ±os de edad A pesar de haber alcanzado la mayorà ­a de edad, los menores de 21 aà ±os no pueden comprar bebidas alcohà ³licas, excepto en el caso de Puerto Rico. Sin embargo,  las reglas sobre la presencia de menores en bares o tiendas de licor o consumo en privado,  por ejemplo, en una cena familiar, depende de cada estado. Ademà ¡s, segà ºn las leyes federales, los menores de 21 aà ±os no pueden comprar pistolas a ningà ºn comerciante. Sin embargo, pueden adquirirlas a partir de los 18 aà ±os si es a travà ©s de una persona privada. Asimismo, pueden comprar rifles y escopetas a un comerciante a partir de los 18 y no hay là ­mite de edad cuando se trata de adquisiciones privadas. En el tema de compra de armas, ademà ¡s de las leyes federales hay que respetar las leyes del estado en el que se vive. Varios de los estados imponen un mà ­nimo de 21 aà ±os de edad para comprar y/o poseer pistolas, por ejemplo California, Connecticut, Delaware, Hawaii, Illinois, Iowa, Nebraska, Nueva Jersey, Nueva York, Rhode Island, Washington, Wyoming y la ciudad de Washington D.C. Consecuencias de la edad en asuntos migratorios A efectos migratorios, son varios los casos en los que se considera a una persona como infante (child) mientras es menor  21 aà ±os de edad y està ¡ soltero. Por ejemplo, en las peticiones de sus hijos  por parte de ciudadanos o residentes permanentes. Ademà ¡s, los ciudadanos sà ³lo pueden pedir a hermanos y padres si ya han cumplido los 21 aà ±os de edad.   Otro caso donde importa la edad es el de los indocumentados menores de 21 aà ±os que no està ¡n casados y que han sido abusados o abandonados por uno de sus padres, ya que podrà ­an obtener papeles si califican para el Estatus Especial de Inmigrante Juvenil.   Se trata de casos en los que las leyes migratorias protegen mà ¡s allà ¡ de los 18 aà ±os de edad.   Sin embargo, en el caso de los muchachos que pueden ser protegidos por la Accià ³n Diferida (DACA, por sus siglas en inglà ©s) sà ³lo està ¡n amparados los que llegaron a Estados Unidos antes de cumplir los 16 aà ±os de edad. El consentimiento para actos sexuales y la edad Cuando un adulto mantiene relaciones sexuales fuera del matrimonio con un menor de edad, aunque sean consentidas, puede ser considerado un delito, lo cual podrà ­a tener consecuencias penales y tambià ©n migratorias. Para evitar problemas serios hay que tener en cuenta cuà ¡l es  la edad para el consentimiento sexual en cada estado  Y es que como regla general, la mayorà ­a de edad y la de consentimiento para actos de naturaleza sexual no coinciden y es fundamental tener en cuenta la edad de las 2 personas que realizan el acto à ­ntimo. Este es un artà ­culo informativo. No es asesorà ­a legal.