The major purposes of financial statements Essay Example for Free

The major purposes of financial statements Essay The major purpose of financial statement is to provide an overview of the company’s overall performance of the company’s operations and also assess the company’s worth during the year. Financial statement not only assists the financial managers but also the outsiders like creditors, stockholders etc. After reviewing the financial statements of the company all the stakeholders assess the company growth, investment opportunity ,dividend profile etc after that note all the stakeholders made appropriate decisions regarding the firm’s future’s perspective. . Financial statements are also helpful in submitting the tax return of the year (Besley, Brigham, 2001). In basic terms financial statement is comprises on Profit Loss Statement, Balance Sheet, and on Statement of cash flows. There could be several reasons which signify the fact that it is gravely essential for one to understand the business or the industry in order to understand the financial statements better. Some of them may be: 2. The type of information financial statements provides. There are mainly three types of information is available in Profit Loss Statement, Balance Sheet, and Statement of cash flows. All the statements have own importance. Profit Loss Statement debates over the company’s revenue generation power, cost behavior and structure and in the end on Net Income. The balance sheet provides an overview regarding the company’s financial position. In the same time the balance sheet also discussed about the company’s assets, liabilities and owners equity. Cash flow statement discussed over the company’s operating, investing and financing activities during the year. It also discussed on the in flow and outflow of the cash and also on the cash equivalents. 3. The limitations of financial statements. The limitations of financial statements are stated below: †¢ Financial statements are debates over the historical facts they can’t address the trends like inflation, growth rates etc (Erich A. Helfert, 2001). †¢ The qualitative factors are not evaluated in the financial statements and often neglected because no organization discussed the qualitative factors in the monetary terms. Like reputation of the company, employees performance etc (Erich A. Helfert, 2001). †¢ It is the reality that out dated information of the company’s financial profile is not worthy especially when the company’s management is willing to take more debt from bank (Garrison, 2004). †¢ Whenever the financial statements are presented with out the notes then all the reported figures are picture less. 4. The outside factors upon which the conclusions drawn from these statements are reliant. The most relying outside factors that makes an impression on the financial statements are stated below: †¢ Frequently changes in the tax percentages make an impact on the firm’s net income, dividend, EPS, owner’s equity, stock price, etc (Besley, Brigham, 2001). †¢ Government’s regulation on any appropriate business slight distorts the financial statements of the company (Besley, Brigham, 2001). †¢ Events happening after balance sheet dates like case filed in the court of law make a negative impact on the reported figures of the company (Garrison, 2004). †¢ Fluctuation the interest rate percentage makes an impression on the interest expense of the company and also on the prices of the bonds. 5. How items in common-size statements are presented. In order to create common size statements we express it in the form of percentages rather than dollar amounts. It is easier to understand that we take the differences of amounts year by year and divided that difference amount with the total amount. Let’s assume: 2008 2007 Difference increase/ (decrease) Cash $150,000 $100,000 $50,000 And Total Assets is $500,000. Then Difference Amount/Total Assets x 100 50,000/500,000 x 100 10%. Means there is an increment of 10% is reviewed from the year 2007 to 2008. 6. How ratios in ratio analysis are computed and used. The formula of some important ratios is stated below: †¢ Average collection period (in times) = Net Credit sales / Average debtors †¢ Inventory turnover (in times) = Cost of goods Sold / Average Stock †¢ Current Ratio = (Current Assets / Current Liabilities) †¢ Total Debt Ratio = (Total Liabilities / Total Assets) †¢ Return on Equity = (Net Income / Average Equity) †¢ Return on Assets = (Net Income / Average Total Assets) The uses of ratios are sated below: †¢ Dividend yield which expressed as a rate of return on the market price of the stock. †¢ Interest coverage ratio shows the debt servicing ability and capability of a company and also indicator of a company’s ability to meet its interest payment obligations (Myers, Brealey and Marcus, 2001). †¢ Debt ratio shows the percentage of total asset financed by debt, from a creditor / bank’s view point, the lower debt ratio gives a positive signal to the creditor. †¢ Current ratio also suggest the firms liquidity position lower current ratio gives alarming and negative signal to the creditor that firm is financial crises and on the edge of financial crunch (Myers, Brealey and Marcus, 2001). 7. Why most financial analysts prefer ratio analysis to common-size statements. It is quite easy to assess the financial performance of the company at a glance. It is the shortest way to get an appropriate result. Moreover, common size statement is slightly tenacious and complicated to examine the different accounting heads (Erich A. Helfert, 2001). Reference Besley, Brigham, Scott, Eugene F. (2001). Principles of Finance. Florida: Harcourt College Publishers. Brealey, Richard A. , Stewart C. Myers, Alan J. Marcus, (2001). Fundamentals of Corporate Finance. New York. McGraw Hill Helfert, Erich A. (2001). Financial Analysis Tools and Techniques: A Guide For Managers. McGraw-Hill. Noreen, Eric W. , Peter C. Brewer, Ray H. Garrison. Managerial Accounting. 11. 2004.

Theories of Aggression Essays -- Biology Essays Research Papers

Theories of Aggression "Two Gunman at Colorado School Reportedly Kill Up to 23 Before Dying in a Siege." On Tuesday, April 20, 1999, two students, Eric Harris and Dylan Klebold, of Columbine High School, shocked the nation when they entered the school armed with guns and explosives, killing fellow students and a teacher before taking their own lives. Stories of random violence and aggression such as this all too often plague the media. While the attention of the nation has recently been focused on the Colorado slayings, history reveals countless other similar crimes of aggression targeted towards innocent individuals. In both Nazi Germany and the more recent Bosnia conflict, ethnic cleansing has been used to violently eliminate certain races. In the early 1990s, Timothy McVegh's vengeful intentions led him to use a car bomb to kill hundreds of innocent people in the explosion of the Oklahoma City Federal Building. In these cases, the culprits were seemingly normal people that displaced their aggression on innocent bystanders for a variety of reasons. What is the cause of this unleashed aggression toward society? How can we come to explain such acts of aggression and violence? Are they a result of societal influences, or are some individuals biologically predisposed to crime? This paper attempts to analyze some of the prevailing theories of aggression. The theories can be classified into three groups: innate or biological theories, drive theories and social learning theories. In light of the evidence produced for each, it is my goal to formulate a conclusion about which particular theory seems most substantiated and reasonable. Sigmund Freud is well known as the father of psychoanalysis. In his early theory, Freud ass... ...h murders and violence, we must regard aggression as a summated response to many factors. Individually, the factors probably are harmless, but when united, they can be unleashed as aggression in which case terrible crimes take the lives of so many innocent people. WWW Sources 1)Freud's Theory http://home.fgi.net/~freud/index.htm 2)Freud Biography http://werple.net.au/~gaffcam/phil/psych1.htm 3)Instinct Theory http://www.student.richmond.edu/~efecteau/instinct.html 4)Aggression Theories http://rock.uwc.edu/psych/psy330/outlines/aggression.htm 5)Theories of Aggression http://www.unn.ac.uk/academic/ss/psychology/resource/it/1/HAZ.HTM 6) The Theoretical Development of Aggression http://academic.csub.edu/~lvega/dustin2.html 7) Aggression and Violence: Examining the Theories http://www.nursing-standard.co.uk/vol12-27/research.htm

PostQuick Computing project Essay

I designed my project on visual basics 6. 0, and the benefit I found in Visual Basics as compared to other software was that Visual Basics is user friendly. Anyone can use it by clicking certain buttons, and on the other hand other software packages such as Microsoft Access and Microsoft Excel require a bit of knowledge before using them. To make my own project using visual basics, I first designed my form on the paper, which gave me a rough idea about how my project form would look like. This is also attached with my documentation. I designed my project by prototyping, and made my form using these things   A set of screen that shows the user what might be possible   A system with limited functionality An existing system that might be modified For my human-computer interface (HCI), I used graphical user Interface (GUI) which is used in Microsoft windows . My form had certain buttons which could be used by clicking the mouse and some text boxes in which data was entered using keyboard. I think that the advantage of this type of interface is this that It is easy to use   In my form no one needs special instruction The disadvantage of GUI is   It uses a lot of processing power   It requires good graphical display   It uses a lot of processing power   It uses a lot of memory and disk space 3. Method of Data Entry, including Validation As said before that my form had certain buttons and these buttons could be used by clicking the mouse and some text boxes in which data was entered using keyboard. I declared each data type with certain specific data type, and checked that if I entered wrong data type then it would not work. The method of data entry is also shown in implementation. The program contains three forms. The main form, which is named input form, is the start-up form. This is the data entry form for all the data, which is entered for a particular assignment. The method of entering data is as follows. Consignment No: These are self-generated. Numbers, its enabled property is false. User has no control on entering its data. Customer Name destination and client address will be entered in respective columns. Afterwards the information of the first parcel of the consignment will be filled (i. e. the whole form will be filled). If there are more then one parcel required to be entered for the same consignment then add new parcel button is pressed for the parcel, and after each parcel entry of the consignment† data entry complete† button will be pressed For a separate consignment†new consignment button â€Å"is required to be pressed. It was part of validation of the project that, the minimum weight of the parcel should not be less then 1 kg. If it does then the message box would appear saying that too less weight in the parcel. Second validation was that the weight of the parcels should not exceed 30 kg, if it does then the message box would appear saying, too much weight of the parcel† The third Validation was that the maximum dimension of the parcel i. e. (length + breadth + height) must not exceed 3 m, if it does then the message box would appear saying â€Å"too big Parcel to send†. The fourth validation was that the maximum weight of consignment must not exceed 200 kg, if it does then the message box would appear saying† too much weight of the consignment† 4. Record structure, file organisation and processing:- The file for the database of the consignments for the Parcel Company is saved as a record structure and saved only for the consignments for one day. It includes the data and information required for the parcels in consignments. It is a record file so it cannot be changed, but the database is changed everyday because each day different consignments are sent to the Parcel Company. The database is linked with Visual basics form, and the file of database is stored as a Microsoft access file. For the backup the file is saved in the floppy so if the actual program in the processor is altered, we can bring back the old one. There are four files that I used for my project one was the form file, named as input parcel, and two forms were for the price list, the Access file linked to database, named as, payslip database which has two databases linked to each other. The actual processing carried out by the program is arithmetic operation, in other words calculation is being carried out, but the bigger companies can use CLOCK SYSTEM, which would be more economical for them. 5. Security and integration of Data Security is the most important thing, because if your data is not secured properly from unauthorised hands then anyone could change your data and could change your project; I therefore kept the project under a password So no one could change or alter my project. If someone did change my database then I could use my backup to restore it from the floppy in which I’ve kept the backup file so if the actual program in the processor is altered, we can bring back the old one. I also protected my data, by using the menu button in the visual basics. If you go to the text box, u click on it and then click text box protect enable force and in this way I can protect my text. I also made sure that when data is entered it is entered accurately and I checked that when I was entering data, no one enters anything. 6. System design:- For documenting my project I used System flow charts-It describes the flow of data around the system. This method uses rectangle to denote some process that takes place, as descriptive symbols to describe the storage or input/output of data. An arrow describes the direction of flow of the data.   Structure diagrams-These are a mean of showing the design of a program or a systemic consists of charts showing the system or programs broken down into number of levels. * Hierarchy charts-these can be used to show menu hierarchy or a directory hierarchy Data model:- A data model represents the relationship between different parts of a database. It consists of entities (data items) and relationship. The entities are shown as rectangles and the relationship are drawn as lines that connect entities. System Flow Chart (describing the flow of data around the system) Parcelquick Company Aqsa Bano Raja 12 s Postquick Structure Diagram The hierarchy Hierarchy diagram 7. Implementation The project that I have made for PostQuick Company can be implemented either as a whole or in parts. The problem maybe that an organisation cannot change instantly to a new method of working as existing records will have to be entered into computer and this may take some time. There are two main approaches to this   Implement the system department by department   Dual run the new system alongside the old system The two databases below are linked to Visual basics6. 0 forms 8. Testing Length,width,height,weight Test Results Right/wrong.

The Public Memory Of The American Revolution - 1367 Words

The public memory of the American Revolution is filled with men, and dates that have lived in our history since the establishment of the United States of America. Men such as George Washington whose image lives on our most used currency the one dollar bill and the quarter. Dates such as July 4th Independence Day which the country celebrates with massive festivals every year. How then do people like Crispus Attucks, Haym Salomon, Nathan Hale, and George Hewes become part of the public memory for the American Revolution? These men were alive and did participate in the American Revolution but they have not always been remembered. Why over time have we choose to remember these men? When looking farther into why we remember and why are there certain times we decide to remember some key themes emerge. The main theme that is expressed in the articles regarding these men is that there remembrance is usually at a time when there needs to be unification of the country. When the country is facing issues and one of these men can be used to help unite people together. They are used for a political interest almost like propaganda. Also the extinction of people from a certain time period makes people want to remember those that are still left. All these themes lead to public memory of the American Revolution. The common men such as Crispus Attucks, Haym Salomon, and Nathan Hale are remembered when their memory can bring together a country. For Attucks and Salomon they becomeShow MoreRelatedThe Great Principles Of The American Revolution1689 Words   |  7 Pagescreation of the American nation became what it is today from years of struggle in which the common people, as well as the Founding Fathers, played a vital part for independence. The promise of the Revolution, a nation based on the republican ideals of liberty, independence, and equality, was to some extent achieved. 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