Accounting is the compilation of financial information for use in making economic decisions.
BOOKKEEPING provides the basic accounting data, by systematically recording such day-to-day financial information as revenue from the sale of products or services; expenses of business operations such as the cost of merchandise sold; and overhead expenses such as rent, wages, and so forth. Accounting principles determine which financial events and transactions should be recorded in the bookkeeper's ledgers, journals, and computer printouts.
The analysis and interpretation of these records is the primary function of accounting. The various financial statements produced by accountants then furnish business and other types of organizations with the basis for their financial planning and control, and provide other interested parties (investors, the government) with information they can use to make decisions about these organizations.
FUNCTIONS OF ACCOUNTING Accounting provides informational access to a firm's financial condition for three broad interest groups. First, it gives the firm's management the information to evaluate financial performance over a previous period of time, and to make decisions regarding the future. Second, it informs the general public, and particularly the firm's stockholders or those interested in buying stock, about the financial status of the firm over the previous quarter or year. Third, accounting provides reports for the tax and regulatory departments of the various levels of government. Accountants also perform many of the same functions for agencies of the government, nonprofit organizations, and other entities. Financial
Accounting Large corporations maintain their own internal accounting departments; small firms may hire the services of an outside accountant. In either case, the accountant's principal duty is to gather the figures that relate to such financial matters as profits, losses, costs, tax liabilities, and other debts, and to present them to the firm's management in a form that is logical and readily understood. For publicly traded companies--those which offer stocks and bonds for sale to the public--accountants also prepare regularly published reports of interest to those outside the organization who are concerned with the company's financial condition: investors and potential investors, creditors, and the general public. At ...
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...own on the profession--especially on the
Big Six firms--a number of liability suits. The auditing industry is largely responsible for disciplining itself to ensure the independence of its auditors; and where an auditor differs from management as to the appropriate reporting principles, the auditor will require adherence to generally accepted accounting principles. The American Institute of
Certified Public Accountants (AICPA) has developed standards of performance for auditors designed to ensure both independence and that adequate audit work is performed. When financial statements are issued a "clean opinion" but later are found to be misleading, the independence of the auditor may be challenged. Although the auditor's task is not specifically to uncover fraud, courts have found auditors liable when their audit work was insufficient or lacked an adequate level of independence.
William J. Oliver Bibliography: Blensly, D.L., and Plank,
T.M., Accounting Desk Book, 9th ed. (1989); Briloff,
A.J., Unaccountable Accounting (1972); Meigs, W.B. and
R.F., Accounting: The Basis for Business Decisions, 8th ed. (1989); Weinstein, G.W., The Bottom Line: Inside
Accounting Today (1989).
Sparta, also called Lacedaemon, was a city in ancient Greece, and one of the most famous ancient Greek cities of the Peloponnesus. Found in the hills of Mount Taygetus many would consider was a brutal group of militaristic people. Although, this to some extent may be true most of the written information was derived from the ancient city-state of Athens, who were great enemies of the Spartan society.
Firstly, the rejection of luxury and avarice invariably results in a focus on military pursuits. Secondly, the apparent equality belies a vast slave network (common in antiquity, but the unique brutality of the Spartan kind can only bring to mind the Gulag). Lastly, intellectual sterility sets in. Sparta, intellectually, seems to be only good at cracking jibes (Athenian: “I can imitate a sparrow” Spartan: “So what, I have heard the real thing” upon approaching the walls of a city, a Spartan said, "What kind of women live here?"). Their poetry is stale and militaristic; their women are absolutely free; children are encouraged to steal; sex is made to resemble rape; parents mourn when their children return safe from war, and celebrate when they die: this is the weirdest state ever. The book “On Sparta” is a well written book as well is most of Plutarch’s
Sparta was a war-like Greek city-state that had 2 main ranks of society. There were the Spartans, who were citizens that
The Statement of financial position is a very useful tool full of information showing the position of an entity. However within this sheet of information lies a lot of limitations and problems. This essay will pinpoint some of the limitations and problems within the balance sheet. These limitations include how the balance sheet does not reflect the true financial position of a business, it does not reflect assets that can’t be measured monetarily and it also has a huge amount of estimated values and not actual verified values so this causes some controversy within the entity and its true position on the market. As well as the problems within the balance sheet there also lies a lot of problems with what’s left out of the balance sheet.
In ancient Greece during the 7th and 8th centuries, different armies and cities were fighting for control of land and power. During this time period, it was very gruesome and many people died because different states wanted to expand their control over new territories so they could gain more power. With all the different armies and militaries fighting for control, there was one that stood out as the elite of all militaries, Sparta. Quickly Sparta became known throughout Greece as the most highly disciplined and coordinated militaries in the world.
Sparta valued power more than its citizens which lowered their chances of living longer than 300 years, which they didn’t. They’re ego overpowered their thoughts letting the Spartan society to crumble. Any society abusing children, and taking them away from families at a young age shouldn’t last long. They lacked education and didn’t believe in the importance of the intellect Sparta’s weaknesses outweighed the strengths because Spartans lacked education, abused their own citizens which forced families to separate, and killed innocent Helots.
One way that Athens and Sparta truly contrasted was in their concept of coexisting with whatever is left of the Greeks. Sparta appeared to be substance to mind itself's own business and give armed force and help when essential. Athens, then again, needed to control increasingly of the land around them. This in the end prompted war between every one of the Greeks. This was the Peloponnesian War. After numerous times of hard battling, Sparta won the war. In genuine Greek soul, Sparta declined to consume the city of Athens. Or maybe, the way of life and soul of Athens was permitted to live on, the length of the Athenians no longer sought to govern their kindred Greeks. Along these lines, the impact of Athens remained and became more
Although generally famous for it’s accomplishments in the arts and sciences, different parts of Ancient Greece varied based on their values, lifestyles, and cultures. Due to the mountainous regions in the area, many parts of Ancient Greece were secluded from one another, therefore forcing the regions to form their own city-states with completely opposite views, cultures, and values; as was the case with Athens and Sparta. After the foundation of their city-state, Athenians focused on the arts and philosophy, while their Spartan counterparts based their entire lives around the subject of military, considering it was one of the main aspects of every Spartan’s life.
Their government was actually the first democracy and was around for over one-hundred years before Athens. The democracy was made up of a council of Spartan citizens. Higher up there was the council of elders and the two kings of equal power from different families. The council checked the two kings’ power and the General Council voted on laws passed by the council of Elders. This essentially means Sparta also created the first system of checks and balances. You also might think of Athens as a center for poetry, but actually Sparta was admired most in their time for their poetry, dance, and music. Home life in Sparta was different from many other civilization in the ancient world because of women’s rights. Girls were allowed to go to school, women competed along side men in Sparta’s Olympics, and they even received military training. They could drink and get drunk openly as well as talk and even argue with men. They could own and manage property and even marry a new man if their husband had died in battle. Spartans believed in simplicity over exorbitance and in general no excess. Everything had a
Sparta was a society built on ideals that set them apart from every other Greek society, for their impeccably unique mentalities. The Spartan people introduced a new society with the focus on creating the perfect soldier. Sparta, which was also commonly known as Lacedaemon, was an ancient Greek city-state. Today, the remains of the society can be seen in a region of southern Greece called Laconia.Sparta was a thriving city-state for a short-lived time; ranging from 431-404 B.C.E. The society of Sparta was especially prosperous due to their unique hierarchy. The population of Sparta was divided up into 3 segments: full citizens known as Spartiates, Helots (servants/slaves) and Perioeci, people who are neither slaves nor citizens.
Patient safety is the basis of quality health care in the hospital. Works applied to patient safety and practices that have not prevented hazard have focused on negative outcomes of care, such as mortality and morbidity. Healthcare employees are important to the surveillance and coordination that will reduce such adverse effects.
Sparta had very different values than that of societies today. Located on Peloponnese, a peninsula in southern Greece, it slowly grew enough to be considered a city-state. The people there valued military more than morals. The Spartans owned helots and fought against an army much bigger than theirs and everyone died but stopped the Persians using the phalanx. The strengths in Sparta’s education system outweigh the weaknesses because boys were taught the proper attitude, to care for and use their bodies, and how to be prepared for whatever comes their way.
Accounting aids the government and organisations in decision making for their financial stability. This numerical data helps solve real life problems and contributes to how the economy and businesses perform.
An accountant makes sure that the Nation’s firms are run efficiently, the public records are kept accurately, and that taxes are paid properly and on time (“Accountants and Auditors”). Accounting is the study of how a business tracks their income, assets, expenses, and many other things for a period of time. They also do many other things like quality management, tax strategy, and health care benefits management (“Welcome to Careers in Accounting”). An accountant is crucial to the success of a business, without one the business tends to fail.
Accounting itself is a system that people has been using for thousands of years, the system records financial information about a person or business, businesses use it in order to be able to keep and track their financial accounts and other financial information in a safe and efficient way. (Brooks, 2012)