Friday, February 21, 2020

Identify the internal and External Users of financial information ( Essay

Identify the internal and External Users of financial information ( Should include At least 5-7 References ) - Essay Example There are also retained earnings, which tell the user the portion of the net income reinvested in the company. The Generally Accepted Principles should be followed in provision of reports to be used by external persons. Accounting has some divisions i.e. cost accounting, managerial accounting, and financial accounting. Management accounting aims at providing information to the company management for the purpose of management decision. Cost accounting is the formation of financial plans, average costs, and actual costs of operation for production or processes and determining the variances on the desired results.Variuos users of accounting information have different interests in the information (Schneier, 2013). These users are internal and external. Firstly, the owners and investors of the business have a keen interest in the accounts kept by the business. Business owners are interested in knowing whether their funds are being misappropriated and not used in the desired manner (Leitner, 2012). The accounting information aids them in knowing the profitability and the financial status of the business in which they have invested their capital. Investors are concerned about risk and return in relation to their investment (Leitner, 2012). This helps them in making a decision on whether to continue investing in the business. It is also helps assess whether the business will be able to pay off dividends. Managers are also users interested in the accounting information. In small businesses, the management may comprise owners also. However, in large businesses, the management is made of employed experts who are delegated with responsibility of carrying out the business or a portion of it. The accounting information helps the managers in the performance measurement. The outcomes of the appraisal are then used to correct any discrepancies (Leitner, 2012). Managers are encountered with economic decisions that should be made regarding the business which require

Wednesday, February 5, 2020

Social Psy Essay Example | Topics and Well Written Essays - 1000 words

Social Psy - Essay Example The author will discuss a personal experience, the use by peers of alcohol and later drugs, that resulted in the author breaking free of conformist pressures and emerging stronger and more independent in the author’s social world. Too often, it would seem, individuals progress through life without careful reflection. People would appear to take individual changes for granted while simultaneously remaining oblivious to the events that contribute to or otherwise cause those changes. People sometimes claim feelings of powerlessness and impotence when living their lives, they feel unable to truly control their destiny, and life in many ways begins to feel somewhat random and meaningless. This personal position paper will argue, however, that life is not so random or unpredictable. More specifically, this paper will suggest that individual self-reflection, as it pertains to an individual’s interaction with different groups in the social world, can not only explain to some extant how different behaviors and performances become manifest but also how individuals may begin to control their behavior and destiny to a greater degree. As an initial matter, it is important to note that social psychology is concerned with how individuals fit into or otherwise interact with a social world. The social world concept, however is not monolithic; quite the contrary there are several social spheres, of different social worlds in which an individual does and may interact. The questions posed often relate to how an individual engages in self-perception, how individuals are influenced, as an individual relates and interacts with others in different social circumstances and settings. Generally speaking, therefore, a particular social world may be considered conceptually as the relationship and interaction of individual minds, particular