Assignment for Business Economics and Finance

Assignment for Business Economics and Finance Assignment example
High school
Assignment
Finance & Accounting
Pages 4 (1004 words)
Download 0
Finance and Accounting 1. What is the main purpose of accounting? The main purpose of accounting is “to provide information that can be used in making economic decisions” (Stice et al. 2004, p. 8). Its role is to service the needs of the organization by providing quantitative information (Stice et al…

Introduction

4). There are of course several accounting specialties and each of them is important in their own characteristics (Bonner et al. 2006). 2. Case of Halfords A. Identify the main accounting books that can be used by Halfords to records transactions. Halfords is a company that buys and sells bicycles. The main financial statements that can be used by organizations to record is financial condition, especially business organizations are the balance sheet, income statement, and the statement of cash flows (Stice et al. 2004). The balance sheet “reports, as of a certain point in time, the resources of a company (the assets), the obligations (the liabilities), and the net differences between its assets and liabilities, which represents the equity of its owners” (Stice et al. 2004, p. 10). The balance sheet addresses two fundaments information: what it owns and what it owes (Stice et al. 2004). The income statement “reports, for a certain interval, the net assets generated through business operations (revenues), the net assets consumed (expenses) and the difference, which is called net income” (Stice et al. 2004, p. 10). ...
Download paper
Not exactly what you need?

Related papers

Business Economics
Euro crisis is supposed to result in negative growth for the next upcoming six months. Apart from US, the British are encountering the problem of double dip recession (Winnett, 2011). Currently OECD is giving warning to the US government about an emerging economic slowdown that the country might have to encounter soon. OECD claims to derive such a result from the composite index of the leading…
Finance and accounting assignment: Advanced financial reporting & regulation
11 PSA Peugeot and Vodafone cases……………………………………………… 14 References……………………………………………………………………… 17 Question 1: A common technique to manage earnings is to ‘stuff the channels’, that is, to ship prematurely to dealers and customers, thereby inflating sales for the period. A case in point is Bristol-Myers…
Housing finance and economics (2)
This segment is monitored such that rents are kept at low levels. This sector is different from that of private landlords where the choice of the later dominates. Here, houses are allocated according to needs and the social landlords state in advance the criterion on the basis of which the allocation is done on a rational ground. They might have a policy of alteration at any time as per the…
INTERNATIONAL ECONOMICS AND FINANCE
The two eminent theories of Heckscher-Ohlin and Ricardian theory of international trade by David Ricardo have been discussed below. An introspection of the two theories provides an insight of the main controversies in the field of international trade and the current problems in policy that is affecting international trade. The Ricardian model explains comparative advantage in international trade…
Business Finance
The maximization act in general is the one being criticized as the managers tend to be carried away by the mere feeling to satisfice and not really come up with means of maximizing or optimizing according the theories of finance. This means that the mangers go for solutions which they regard as satisfactory yet they need to seek the best solutions that are possible respecting the existing…
Finance/Economics research paper
One of the many contributing factors used to determine the status of the economy as well as the logical near future outcomes for the economy are economic indicators. Economic indicators, a set of statistics used to help gauge the economy, are important and extremely depended upon. Two of these important indicators are the Gross Domestic Product (GDP) and the Unemployment Rate. Background The most…
business finance
It moves forward to analyse the plan and performs a variance analysis to find out how the budget could be flexed in order to accommodate a better and more acceptable plan in the scenario where huge deviations from the plan existed. It then concludes in suggesting measures to the management by which such behavioural issues in budget acceptance could be addressed and the new plan could be made…