Coursework Management Accounting Case Study Example | Topics and Well Written Essays - 1000 words

Coursework Management Accounting - Case Study Example s a break from factors not normally captured in the financial statements.The cash budget is a valuable instrument that can be used by the different offices in the company, and perhaps, it may have a bearing on the success of SPECTRA. Below is a design of a balance scorecard detailing the objectives, measures, targets and initiatives that can assist these officers in the company; Human Resources Director, Operations Director, Marketing Director, Financial Director, and Chief Executive Officer. A good balanced scorecard, typically, properly define the objectives of a company, more, the balance score should provide directions on cash balances of a company, profitability, market share amongst other important data. Secondly, the balance scorecard, based on stated objectives, should provide the measures that are in place to ensure the achievement of the stated objectives. Finally, initiatives should also be incorporated to ensure that the objectives are achieved. the scorecard designed for SPECTRA is important as it helps the firm in monitoring progress and evaluating performance. For instance, a reduction of the level of industrial action from 35% to 10 % can immensely aid the company in reducing the variable overhead costs,, which goes along the way in improving the image of the company and the profitability level. Certain pitfalls can affect implementation of the balanced scorecard, but not design of the scorecard. Niven (2006 301-302) identifies ten potential pitfalls which resonate with the case study. For instance, if SPECTRA lacks of business strategy, a lack of guiding rationale for the balanced scorecard program, lack of consistency in the management practices. In addition, the lack of proper team development and a premature linking of the scorecard to management processes can potentially lead to a pitfall. The assumptions in designing the scorecard were three and they included the following. First, the objectives in the scorecard are complimentary as one

Eating Breakfast for Success Essay Example for Free

Eating Breakfast for Success Essay Abstract In this experiment, we will study the impact of breakfast on learning in school. Students in several classes will be surveyed on their breakfast eating habits and their personal test scores. It will be a one-time survey over the course of one test. Factors that will be put under consideration are the amount of times each individual studied and the amount of sleep they had the night before. Many researches have been conducted proving that there are significant relationships between eating breakfast and educational performances. This study hypothesizes that students who ate breakfast will do significantly better on tests than students who didn’t eat breakfast. Impact of Breakfast on Learning in School Boschloo, Annemarie, et Al. (2012) conducted a survey with 608 adolescents age 11-18 investigating whether skipping breakfast has an impact on educational performances. The survey was to determine if those who eat breakfast daily have a better end-term-grade than those who skips breakfast. As a result, those who eat breakfast daily performed better in school than those who don’t eat breakfast. The result also shows that people who slept late tend to slip breakfast, but sleep had no effect on performances. The results applied to older and younger students also boys and girls. Another crossover trail has been done by Widenhorn-Muller, Katharina et al. (2008), the trail was applied on high school students age 13-20. Students were assigned to two groups: one with breakfast and who without breakfast. They compared cognitive functions of students in each group. As a result, Breakfast had no effect on paying more attention in class among students, but it has a short term effect on self-assessment and personal performance among the students. Pollitt, Ernesto et al. (1982-1983) found that â€Å"the timing and nutrient composition of meals have acute and demonstrable effects on behavior. † They conducted research on kids 9-11 yrs. old in controlled groups of fasting (breakfast) and non-fasting. They gave these children many tests such as assessment of IQ, the Matching Familiar Figures Test, and Hagen Central–Incidental Test. Glucose and insulin levels were also measured. Pivik, R. T. et al. (2012) found that â€Å"neural network activity involved in processing numerical information is functionally enhanced and performance is improved in children who have eaten breakfast. † Meanwhile students who did not eat breakfast will require more mental effort to solve mathematical problems. This founding was possible by measuring the electroencephalographic (EEG) activity of kids age 7-11 while they are solving math problems. Kids who ate breakfast showed higher frequency EEG activity whereas vice-versa for kids who did not eat breakfast. The proposed study is designed to investigate whether breakfast has an impact on how well a student perform on his/her test. We can assume that each student has a general knowledge on the subject and that they are prepared to take the test. Questions that will be raised during this experiment are 1. whether a person should eat breakfast before test and 2. how much should we eat for it to be consider a healthy breakfast. Method The proposed study is a survey for students age 15-22 in high schools and colleges. Surveys should separate participants into male or female. This survey is conducted on students taking math courses and numbers of males and female should be even in each age group. It is best to conduct the survey on participants within the same classes. Questions will be asked is number of sleep each students had the night before. Whether they had breakfast in the morning. How often do they eat breakfast. Also have the students list the breakfast they had in the morning. Discussion This discussion section will address practical and methodological difficulties in carrying out this survey. Also ethnical background issue will be put under consideration. Some difficulties we might encounter when taking a survey might be each individual’s eating habits, some might eat more than others and the food they consume are different. Also health issues might affect a person’s performance, for example, a person that weighs 130 pounds might have different results in performance compared to a person who is weigh 220 pounds even if they consume the same amount of food for breakfast. Also personal views will affect the survey. Some people have higher standards than others and naturally, the people with higher standards will try harder to get a higher grade than students with lower standards. This also brings up the issue of ethnicity and backgrounds because some people have higher expectations and different cultures have different habits of eating. In future studies, I would like to conduct this survey to a wider age group such as kids from age 5-13 and adults from age 25-40. The adult brain is more developed than children’s brains and breakfast might have a different effect on children and adults. Also this survey can be expanded into testing on a wider range of tasks. Instead of math tests it can be test on other subjects, and other jobs such as a person’s performance in an office or ground work. The survey should also study different types of people such as people with special needs compared to a person with normal functions. References Boschloo, Annemarie, et Al. (2012). The relation between breakfast skipping and school performance in adolescents. Mind, Brain, and Education, Vol 6(2), Jun, 2012. pp. 81-88. Widenhorn-Muller, Katharina et al. (2008) Influence of having breakfast on cognitive performance and mood in 13- to 20-year-old high school students: Results of a crossover trial. Pediatrics, Vol 122(2), Aug, 2008. pp. 279-284. Pollitt, Ernesto et al. (1982-1983). Fasting and cognitive function. Journal of Psychiatric Research, Vol 17(2), 1982-1983. pp. 169-174. Pivik, R. T. et al. (2012). Eating breakfast enhances the efficiency of neural networks engaged during mental arithmetic in school-aged children. Physiology Behavior, Vol 106(4), Jun 25, 2012. pp. 548-555.

Meaning Of The Word Nigger Essay -- essays research papers

The Meaning of the Word â€Å"Nigger†   Ã‚  Ã‚  Ã‚  Ã‚  I can recall the first time I paid close attention to the word nigger. In junior high a school fight would occur about every week and of course the whole school would gather together and watch. Well this particular fight sticks out in my mind because it was between two boys of different races, Hispanic and black. During their conflict the Hispanic boy bluntly called the black boy a nigger, and that was when the rest of the black students became verbally involved. I remember screaming out â€Å" who do you think you are calling him that?† If the white, Hispanic, or any other race calls us a nigger, we as black people become hostile. Now that I have put more thought into that incident, I ask myself who do we think we are calling ea...

Practicum Report

PRACTICUM REPORT In partial fulfillment Of the requirement in Accounting 330a Presented to: Prof. Teresita Crucero Dean College of Business and Accountancy Central Philippine University Jaro, Iloilo City Presented by: Mary Ann Christi M. Espinosa Bachelor of Science in Management Accounting October 2011 TABLE OF CONTENTS Title Page———- Table of Contents——— Narrative Report——— Analysis Report——— Introduction Letter——— Practicum Rating——— Daily Time Record——— Exam Permits———- Attendance Slips——— Application Form for Practicum——- Parental Consent Form——– Log Book/Daily Diaries——– INTRODUCTION NARRATIVE Internship or on the job training or practicum is one way by which we students are given an opportunity to apply the theories and computations that we have learned from school. It also helps us to obtain applicable knowledge and skills by performing in actual work setting. College and Universities require their students to undergo such training within a specific number of hours as part of the curriculum. For us students, a practicum or internship program provides opportunities to go through the actual methodologies of a specific job using the real tools, equipments and documents. In effect the workplace becomes a development venue for us student trainee to learn more about our chosen field and practice what we have learned from the university. On the other hand, a valuable OJT/Practicum program also profits the companies who accept trainees. First trainee provides extra manpower for a significant labor cost than a regular employee. Most of them are eager to learn the ropes so chances are high that they will cooperate. Employers can use this internship strategy as method of recruiting employees. Since the trainer or supervisor can follow the trainees’ progress, he can gauge based on performance, behavior and attitude if the trainee will make good recruit after the completion of his internship. We trainees can bring fresh ideas in the organization. Given the opportunity to converse our minds freely and without fear, we may be able to contribute significantly in the brainstorming or research and eventually help improve the organizations productivity. While training the interns, employers are in fact teaching their employees to guide the trainees by stretching their patience, develop teaching skills and make them more sensitive to the needs and mindset of the younger generation. The course of supervision also teaches them how to share what they know and be receptive to questions. Hence, the internship also becomes an avenue in training for future managers of the company. Accepting on the job trainees can truly be beneficial not only to the trainees but also to the companies that provide opportunities for this type of learning. There is wisdom in the front lines. Such training can be investment that will be valuable to the company later on. This is also why us trainees should take our internship seriously as it can be a powerful tool and possibly even a source of recommendation when they take that big lift from being students to career professionals. Every day, man learns something. It is in his system to learn and discover. Man was born for this. It is an instinct to search for answers in order to satisfy their questions. Save it to their memory and use it in their daily lives. I am on my last semester as a Management Accounting student, I take pride for what I have achieved at this time of my life plus the fact that it’s not easy to maintain a cut-off grade in most of my Accounting subjects in order for me to stay and graduate as a bachelor in Management Accounting. With regards to my off campus practicum, our school sends us to different offices to put our theoretical learning into practical applications. PUDADERA ACCOUNTING OFFICE is located in Arguelles Street, Jaro Iloilo City. It is a ten minute walk from the 6th gate of Central Philippine University. The two-storied building was built in a subdivision with the calm atmosphere of the community and its landscape. The appearance of the building is well harmonized with the surroundings. However, it gives guests the impression of dignity and openness. Directly inside the main entrance, Pudadera Accounting Office has a small but welcoming lobby with a natural concrete floor, stylish but difficult to walk on heels. There are several chairs arranged against the wall and a side table which are placed the company’s newspapers and other publications. The receptionist’s desk is facing the entrance door, and behind it sits two friendly women. Passing through the receptionists’ area which is directly leads to the main office. The area is small but it is well arranged to welcome the clients as well as guests. The receiving area has a big square table in the middle with a large window overlooking the exterior. The remainder of the office space is segmented with partitioning walls, forming a sort cubicle. The office starts its operation from 9am to 6pm from Mondays to Friday and 9am to 12nn during Saturdays. The office is closed on Sundays and during Holidays. To grow and create value, the company must have the trust of its clients, lenders and investors. The office assists their clients in the proper applications of accounting principles that will become effective. They also assist in completing certain requirements under existing rules and regulations of regulatory bodies such as the Security and Exchange Commission (SEC) and others. The office reviews financial information based on agreed-upon procedures, assisting acquirers/investors in determining factors affecting the price and post-acquisition financial issues and providing integrated support throughout the acquisition process. They also provide advice and assistance with the registration and reporting requirements of government agencies relating to tax and/ or investment incentives granted under various investment laws and regulations as administered by the Securities and Exchange Commission, Department of Trade and Industry, Bangko Sentral ng Pilipinas, Local Government and etc. It also can provide assistance in determining a company’s tax liabilities, preparing related returns and remitting these taxes to regulatory agencies within the prescribed deadlines. Some of the clients also ask the office to do the payroll and also provides assistance in Social Security System and Philippine Health Insurance application and payments on their own employees. As I stepped in to the accounting office, the first task I did was to update the books of the firm’s clients. Bookkeeping is the process of recording and classifying business financial transactions, or to put it another way, the process of maintaining the records of a business’s financial activities. The objective in bookkeeping is to create a useable summary of financial transactions, which provides a snapshot of the business’s financial stability. The most basic form of accounting is the single-entry system. In this system, you record each transaction only once, as either a deposit or as an expense. This system is generally used to determine the profit/loss of a business. However, the preferred system is the double-entry system. The double-entry system is more accurate, and has built-in checks and balances. In this system, each transaction is recorded twice, in each â€Å"account† it affects. This is a more thorough method of keeping a business’s financial transaction in order. Bookkeeping; As part of the business science of accounting, it represents the daily tasks of tracking its financial transaction of a business and recording it correctly. This includes a sale, purchase of equipment and supplies, investment income for the month, or internal transfer of funds. As a bookkeeper, I have the access to all the daily transaction data for a particular client. Amongst the books that I have updated, the office uses single-entry method of bookkeeping. The approach is very streamlined, tracking only accounts associated directly with money coming in and money being spent by the business which many new businesses and sole proprietors accustomed to. All of this data is then rolled up regularly into a report based on a cash flow structure, showing starting balance, how much new money was earned, how much was spent, and finally a remaining net balance for the period. There are three basic elements of bookkeeping: assets, liabilities, and net assets. Assets are all items used in the operation or investment activities of a business. This category includes all property, or items of value, owned by a business. Examples include cash, buildings, land, vehicles, tools, inventory, office supplies, furniture, investments, and accounts receivable (any funds owed to the business). Increases in assets are called debits. Decreases in assets are called credits. Generally, various assets are referred to as debit accounts. Liabilities are claims by creditors to the assets of a business, or debts owed by the business to others. Types of liabilities include loans, notes payable, and lines of credit. Net assets are the equity earned by the business. Net assets are the value of the business once all liabilities have been paid. It can also be called owner’s equity, capital, net worth, profit, or proprietorship. There are also several other things to keep in mind when considering a company’s net assets: †¢ Revenue is the increase in net worth resulting from the operations and other activities of the business. Revenue includes income earned through the business’s services, interest earned on investments, and contributions from individuals or foundations. Although net assets are considered to be credit accounts, sources of revenue are actually considered to be debit accounts. Expenses are the costs of doing business. This includes the cost of goods, fixed assets, and services/supplies used in the business’s operations. Examples of expenses include salaries, rent, travel expenses, and the costs of supplies and utilities. Expenses are credit accounts. †¢ Net assets are calculated by subtracting tot al expenses from total revenue, on a yearly basis. Whenever revenue is received, net assets increase. Whenever expenses are paid, net assets decrease. The paper side of bookkeeping is managed through ledgers. Each account has a ledger to show each financial change that has occurred to the account. Sales account shows every sale made in a period by peso amount. It will also show corrections made to the account if there was an error or a bad posting. Eventually, for reporting, all the ledgers used are rolled into one combined report, which then tells management how money was earned and spent for the time period tracked. All business transactions result in at least two changes to the bookkeeping equation. In other words, a transaction that changes a business’s assets must also change that business’s liabilities or net assets. Some transactions increase accounts. If a business’s assets increase, then there must also be an increase in either liabilities or net assets. Other transactions can decrease accounts. If a business’s assets decrease, so must either its liabilities or its net assets. Bookkeeping goes hand in hand with taxes. Bookkeeping is the process of keeping track of business income and expenses tallying them over time. Taxes are sums that you must pay to government institutions relative to the income and expenses that you tally by means of bookkeeping process. As a practicum, it is our duty to update each of the client’s books. If we keep the books up to date, it can be relatively simple to file tax returns. Most tax returns involve transferring bookkeeping totals and multiplying them by tax rates. The office maintains a file of receipts for each of the client each month. ANALYSIS Strategizing An up-to-date bookkeeping system enables you to develop strategies to minimize the amount of tax you owe. Income tax rates increase as your income level rises. If you know that you will earn less during an upcoming calendar year, you may choose to make capital expenditures that will lower your tax burden during a year when your overall tax rate will be higher. If your bookkeeping is current and you only need to perform simple calculations to file taxes, you are less likely to accrue penalties and interest on late filings and payments. Running a business means being vigilant about your bookkeeping so that you always know where you stand. If you have a small business, or are in charge of bookkeeping for a business, then you should know some basic accounting and bookkeeping rules to make sure that you're able to run your business smoothly, with no hiccups in the financial department. Choose a System * When starting your bookkeeping, you need to choose a system for doing it. Most businesses choose a cash or accrual system. In a cash system, the bookkeeper records all cash coming in and going out as it is received. For instance, you may make a sale on Friday, but the check doesn't come until Monday, so you record it on Monday. With accrual, you record things when they happen. You would record the sale on Friday and account for the money then, even if you didn't yet receive it. Choosing your system relates mostly to how you do business, if you are vigilant about always having the funds on hand, or if you don't mind doing some of your business on credit. Choose the method that works best for your company. Maintain Your Books * As a bookkeeper or small business owner, you should be updating and maintaining your books daily. It can be easy to put off an entry until tomorrow, but to keep things organized and orderly, you should be entering things in the books as they happen. Resist the urge to leave things until another day. With books, you're dealing with numbers and money, and any small mistake can have big consequences. Make it easier on yourself by maintaining the books daily. Take a few minutes to update and assess, so you are continually in the loop of your financial situation. Leave a Paper Trail * When keeping books, it's important to always do things in order, to number checks and enter them chronologically with all of the information at hand. You should have records of every single financial move you make, through accounting slips, receipts and receiving orders. If, for some reason, you are targeted by the IRS for an audit, they'll want to see clean books with correct records. Leaving a paper trail in everything you do financially with the business is essential to bookkeeping. Practicum Report PRACTICUM REPORT In partial fulfillment Of the requirement in Accounting 330a Presented to: Prof. Teresita Crucero Dean College of Business and Accountancy Central Philippine University Jaro, Iloilo City Presented by: Mary Ann Christi M. Espinosa Bachelor of Science in Management Accounting October 2011 TABLE OF CONTENTS Title Page———- Table of Contents——— Narrative Report——— Analysis Report——— Introduction Letter——— Practicum Rating——— Daily Time Record——— Exam Permits———- Attendance Slips——— Application Form for Practicum——- Parental Consent Form——– Log Book/Daily Diaries——– INTRODUCTION NARRATIVE Internship or on the job training or practicum is one way by which we students are given an opportunity to apply the theories and computations that we have learned from school. It also helps us to obtain applicable knowledge and skills by performing in actual work setting. College and Universities require their students to undergo such training within a specific number of hours as part of the curriculum. For us students, a practicum or internship program provides opportunities to go through the actual methodologies of a specific job using the real tools, equipments and documents. In effect the workplace becomes a development venue for us student trainee to learn more about our chosen field and practice what we have learned from the university. On the other hand, a valuable OJT/Practicum program also profits the companies who accept trainees. First trainee provides extra manpower for a significant labor cost than a regular employee. Most of them are eager to learn the ropes so chances are high that they will cooperate. Employers can use this internship strategy as method of recruiting employees. Since the trainer or supervisor can follow the trainees’ progress, he can gauge based on performance, behavior and attitude if the trainee will make good recruit after the completion of his internship. We trainees can bring fresh ideas in the organization. Given the opportunity to converse our minds freely and without fear, we may be able to contribute significantly in the brainstorming or research and eventually help improve the organizations productivity. While training the interns, employers are in fact teaching their employees to guide the trainees by stretching their patience, develop teaching skills and make them more sensitive to the needs and mindset of the younger generation. The course of supervision also teaches them how to share what they know and be receptive to questions. Hence, the internship also becomes an avenue in training for future managers of the company. Accepting on the job trainees can truly be beneficial not only to the trainees but also to the companies that provide opportunities for this type of learning. There is wisdom in the front lines. Such training can be investment that will be valuable to the company later on. This is also why us trainees should take our internship seriously as it can be a powerful tool and possibly even a source of recommendation when they take that big lift from being students to career professionals. Every day, man learns something. It is in his system to learn and discover. Man was born for this. It is an instinct to search for answers in order to satisfy their questions. Save it to their memory and use it in their daily lives. I am on my last semester as a Management Accounting student, I take pride for what I have achieved at this time of my life plus the fact that it’s not easy to maintain a cut-off grade in most of my Accounting subjects in order for me to stay and graduate as a bachelor in Management Accounting. With regards to my off campus practicum, our school sends us to different offices to put our theoretical learning into practical applications. PUDADERA ACCOUNTING OFFICE is located in Arguelles Street, Jaro Iloilo City. It is a ten minute walk from the 6th gate of Central Philippine University. The two-storied building was built in a subdivision with the calm atmosphere of the community and its landscape. The appearance of the building is well harmonized with the surroundings. However, it gives guests the impression of dignity and openness. Directly inside the main entrance, Pudadera Accounting Office has a small but welcoming lobby with a natural concrete floor, stylish but difficult to walk on heels. There are several chairs arranged against the wall and a side table which are placed the company’s newspapers and other publications. The receptionist’s desk is facing the entrance door, and behind it sits two friendly women. Passing through the receptionists’ area which is directly leads to the main office. The area is small but it is well arranged to welcome the clients as well as guests. The receiving area has a big square table in the middle with a large window overlooking the exterior. The remainder of the office space is segmented with partitioning walls, forming a sort cubicle. The office starts its operation from 9am to 6pm from Mondays to Friday and 9am to 12nn during Saturdays. The office is closed on Sundays and during Holidays. To grow and create value, the company must have the trust of its clients, lenders and investors. The office assists their clients in the proper applications of accounting principles that will become effective. They also assist in completing certain requirements under existing rules and regulations of regulatory bodies such as the Security and Exchange Commission (SEC) and others. The office reviews financial information based on agreed-upon procedures, assisting acquirers/investors in determining factors affecting the price and post-acquisition financial issues and providing integrated support throughout the acquisition process. They also provide advice and assistance with the registration and reporting requirements of government agencies relating to tax and/ or investment incentives granted under various investment laws and regulations as administered by the Securities and Exchange Commission, Department of Trade and Industry, Bangko Sentral ng Pilipinas, Local Government and etc. It also can provide assistance in determining a company’s tax liabilities, preparing related returns and remitting these taxes to regulatory agencies within the prescribed deadlines. Some of the clients also ask the office to do the payroll and also provides assistance in Social Security System and Philippine Health Insurance application and payments on their own employees. As I stepped in to the accounting office, the first task I did was to update the books of the firm’s clients. Bookkeeping is the process of recording and classifying business financial transactions, or to put it another way, the process of maintaining the records of a business’s financial activities. The objective in bookkeeping is to create a useable summary of financial transactions, which provides a snapshot of the business’s financial stability. The most basic form of accounting is the single-entry system. In this system, you record each transaction only once, as either a deposit or as an expense. This system is generally used to determine the profit/loss of a business. However, the preferred system is the double-entry system. The double-entry system is more accurate, and has built-in checks and balances. In this system, each transaction is recorded twice, in each â€Å"account† it affects. This is a more thorough method of keeping a business’s financial transaction in order. Bookkeeping; As part of the business science of accounting, it represents the daily tasks of tracking its financial transaction of a business and recording it correctly. This includes a sale, purchase of equipment and supplies, investment income for the month, or internal transfer of funds. As a bookkeeper, I have the access to all the daily transaction data for a particular client. Amongst the books that I have updated, the office uses single-entry method of bookkeeping. The approach is very streamlined, tracking only accounts associated directly with money coming in and money being spent by the business which many new businesses and sole proprietors accustomed to. All of this data is then rolled up regularly into a report based on a cash flow structure, showing starting balance, how much new money was earned, how much was spent, and finally a remaining net balance for the period. There are three basic elements of bookkeeping: assets, liabilities, and net assets. Assets are all items used in the operation or investment activities of a business. This category includes all property, or items of value, owned by a business. Examples include cash, buildings, land, vehicles, tools, inventory, office supplies, furniture, investments, and accounts receivable (any funds owed to the business). Increases in assets are called debits. Decreases in assets are called credits. Generally, various assets are referred to as debit accounts. Liabilities are claims by creditors to the assets of a business, or debts owed by the business to others. Types of liabilities include loans, notes payable, and lines of credit. Net assets are the equity earned by the business. Net assets are the value of the business once all liabilities have been paid. It can also be called owner’s equity, capital, net worth, profit, or proprietorship. There are also several other things to keep in mind when considering a company’s net assets: †¢ Revenue is the increase in net worth resulting from the operations and other activities of the business. Revenue includes income earned through the business’s services, interest earned on investments, and contributions from individuals or foundations. Although net assets are considered to be credit accounts, sources of revenue are actually considered to be debit accounts. Expenses are the costs of doing business. This includes the cost of goods, fixed assets, and services/supplies used in the business’s operations. Examples of expenses include salaries, rent, travel expenses, and the costs of supplies and utilities. Expenses are credit accounts. †¢ Net assets are calculated by subtracting tot al expenses from total revenue, on a yearly basis. Whenever revenue is received, net assets increase. Whenever expenses are paid, net assets decrease. The paper side of bookkeeping is managed through ledgers. Each account has a ledger to show each financial change that has occurred to the account. Sales account shows every sale made in a period by peso amount. It will also show corrections made to the account if there was an error or a bad posting. Eventually, for reporting, all the ledgers used are rolled into one combined report, which then tells management how money was earned and spent for the time period tracked. All business transactions result in at least two changes to the bookkeeping equation. In other words, a transaction that changes a business’s assets must also change that business’s liabilities or net assets. Some transactions increase accounts. If a business’s assets increase, then there must also be an increase in either liabilities or net assets. Other transactions can decrease accounts. If a business’s assets decrease, so must either its liabilities or its net assets. Bookkeeping goes hand in hand with taxes. Bookkeeping is the process of keeping track of business income and expenses tallying them over time. Taxes are sums that you must pay to government institutions relative to the income and expenses that you tally by means of bookkeeping process. As a practicum, it is our duty to update each of the client’s books. If we keep the books up to date, it can be relatively simple to file tax returns. Most tax returns involve transferring bookkeeping totals and multiplying them by tax rates. The office maintains a file of receipts for each of the client each month. ANALYSIS Strategizing An up-to-date bookkeeping system enables you to develop strategies to minimize the amount of tax you owe. Income tax rates increase as your income level rises. If you know that you will earn less during an upcoming calendar year, you may choose to make capital expenditures that will lower your tax burden during a year when your overall tax rate will be higher. If your bookkeeping is current and you only need to perform simple calculations to file taxes, you are less likely to accrue penalties and interest on late filings and payments. Running a business means being vigilant about your bookkeeping so that you always know where you stand. If you have a small business, or are in charge of bookkeeping for a business, then you should know some basic accounting and bookkeeping rules to make sure that you're able to run your business smoothly, with no hiccups in the financial department. Choose a System * When starting your bookkeeping, you need to choose a system for doing it. Most businesses choose a cash or accrual system. In a cash system, the bookkeeper records all cash coming in and going out as it is received. For instance, you may make a sale on Friday, but the check doesn't come until Monday, so you record it on Monday. With accrual, you record things when they happen. You would record the sale on Friday and account for the money then, even if you didn't yet receive it. Choosing your system relates mostly to how you do business, if you are vigilant about always having the funds on hand, or if you don't mind doing some of your business on credit. Choose the method that works best for your company. Maintain Your Books * As a bookkeeper or small business owner, you should be updating and maintaining your books daily. It can be easy to put off an entry until tomorrow, but to keep things organized and orderly, you should be entering things in the books as they happen. Resist the urge to leave things until another day. With books, you're dealing with numbers and money, and any small mistake can have big consequences. Make it easier on yourself by maintaining the books daily. Take a few minutes to update and assess, so you are continually in the loop of your financial situation. Leave a Paper Trail * When keeping books, it's important to always do things in order, to number checks and enter them chronologically with all of the information at hand. You should have records of every single financial move you make, through accounting slips, receipts and receiving orders. If, for some reason, you are targeted by the IRS for an audit, they'll want to see clean books with correct records. Leaving a paper trail in everything you do financially with the business is essential to bookkeeping. Practicum Report PRACTICUM REPORT In partial fulfillment Of the requirement in Accounting 330a Presented to: Prof. Teresita Crucero Dean College of Business and Accountancy Central Philippine University Jaro, Iloilo City Presented by: Mary Ann Christi M. Espinosa Bachelor of Science in Management Accounting October 2011 TABLE OF CONTENTS Title Page———- Table of Contents——— Narrative Report——— Analysis Report——— Introduction Letter——— Practicum Rating——— Daily Time Record——— Exam Permits———- Attendance Slips——— Application Form for Practicum——- Parental Consent Form——– Log Book/Daily Diaries——– INTRODUCTION NARRATIVE Internship or on the job training or practicum is one way by which we students are given an opportunity to apply the theories and computations that we have learned from school. It also helps us to obtain applicable knowledge and skills by performing in actual work setting. College and Universities require their students to undergo such training within a specific number of hours as part of the curriculum. For us students, a practicum or internship program provides opportunities to go through the actual methodologies of a specific job using the real tools, equipments and documents. In effect the workplace becomes a development venue for us student trainee to learn more about our chosen field and practice what we have learned from the university. On the other hand, a valuable OJT/Practicum program also profits the companies who accept trainees. First trainee provides extra manpower for a significant labor cost than a regular employee. Most of them are eager to learn the ropes so chances are high that they will cooperate. Employers can use this internship strategy as method of recruiting employees. Since the trainer or supervisor can follow the trainees’ progress, he can gauge based on performance, behavior and attitude if the trainee will make good recruit after the completion of his internship. We trainees can bring fresh ideas in the organization. Given the opportunity to converse our minds freely and without fear, we may be able to contribute significantly in the brainstorming or research and eventually help improve the organizations productivity. While training the interns, employers are in fact teaching their employees to guide the trainees by stretching their patience, develop teaching skills and make them more sensitive to the needs and mindset of the younger generation. The course of supervision also teaches them how to share what they know and be receptive to questions. Hence, the internship also becomes an avenue in training for future managers of the company. Accepting on the job trainees can truly be beneficial not only to the trainees but also to the companies that provide opportunities for this type of learning. There is wisdom in the front lines. Such training can be investment that will be valuable to the company later on. This is also why us trainees should take our internship seriously as it can be a powerful tool and possibly even a source of recommendation when they take that big lift from being students to career professionals. Every day, man learns something. It is in his system to learn and discover. Man was born for this. It is an instinct to search for answers in order to satisfy their questions. Save it to their memory and use it in their daily lives. I am on my last semester as a Management Accounting student, I take pride for what I have achieved at this time of my life plus the fact that it’s not easy to maintain a cut-off grade in most of my Accounting subjects in order for me to stay and graduate as a bachelor in Management Accounting. With regards to my off campus practicum, our school sends us to different offices to put our theoretical learning into practical applications. PUDADERA ACCOUNTING OFFICE is located in Arguelles Street, Jaro Iloilo City. It is a ten minute walk from the 6th gate of Central Philippine University. The two-storied building was built in a subdivision with the calm atmosphere of the community and its landscape. The appearance of the building is well harmonized with the surroundings. However, it gives guests the impression of dignity and openness. Directly inside the main entrance, Pudadera Accounting Office has a small but welcoming lobby with a natural concrete floor, stylish but difficult to walk on heels. There are several chairs arranged against the wall and a side table which are placed the company’s newspapers and other publications. The receptionist’s desk is facing the entrance door, and behind it sits two friendly women. Passing through the receptionists’ area which is directly leads to the main office. The area is small but it is well arranged to welcome the clients as well as guests. The receiving area has a big square table in the middle with a large window overlooking the exterior. The remainder of the office space is segmented with partitioning walls, forming a sort cubicle. The office starts its operation from 9am to 6pm from Mondays to Friday and 9am to 12nn during Saturdays. The office is closed on Sundays and during Holidays. To grow and create value, the company must have the trust of its clients, lenders and investors. The office assists their clients in the proper applications of accounting principles that will become effective. They also assist in completing certain requirements under existing rules and regulations of regulatory bodies such as the Security and Exchange Commission (SEC) and others. The office reviews financial information based on agreed-upon procedures, assisting acquirers/investors in determining factors affecting the price and post-acquisition financial issues and providing integrated support throughout the acquisition process. They also provide advice and assistance with the registration and reporting requirements of government agencies relating to tax and/ or investment incentives granted under various investment laws and regulations as administered by the Securities and Exchange Commission, Department of Trade and Industry, Bangko Sentral ng Pilipinas, Local Government and etc. It also can provide assistance in determining a company’s tax liabilities, preparing related returns and remitting these taxes to regulatory agencies within the prescribed deadlines. Some of the clients also ask the office to do the payroll and also provides assistance in Social Security System and Philippine Health Insurance application and payments on their own employees. As I stepped in to the accounting office, the first task I did was to update the books of the firm’s clients. Bookkeeping is the process of recording and classifying business financial transactions, or to put it another way, the process of maintaining the records of a business’s financial activities. The objective in bookkeeping is to create a useable summary of financial transactions, which provides a snapshot of the business’s financial stability. The most basic form of accounting is the single-entry system. In this system, you record each transaction only once, as either a deposit or as an expense. This system is generally used to determine the profit/loss of a business. However, the preferred system is the double-entry system. The double-entry system is more accurate, and has built-in checks and balances. In this system, each transaction is recorded twice, in each â€Å"account† it affects. This is a more thorough method of keeping a business’s financial transaction in order. Bookkeeping; As part of the business science of accounting, it represents the daily tasks of tracking its financial transaction of a business and recording it correctly. This includes a sale, purchase of equipment and supplies, investment income for the month, or internal transfer of funds. As a bookkeeper, I have the access to all the daily transaction data for a particular client. Amongst the books that I have updated, the office uses single-entry method of bookkeeping. The approach is very streamlined, tracking only accounts associated directly with money coming in and money being spent by the business which many new businesses and sole proprietors accustomed to. All of this data is then rolled up regularly into a report based on a cash flow structure, showing starting balance, how much new money was earned, how much was spent, and finally a remaining net balance for the period. There are three basic elements of bookkeeping: assets, liabilities, and net assets. Assets are all items used in the operation or investment activities of a business. This category includes all property, or items of value, owned by a business. Examples include cash, buildings, land, vehicles, tools, inventory, office supplies, furniture, investments, and accounts receivable (any funds owed to the business). Increases in assets are called debits. Decreases in assets are called credits. Generally, various assets are referred to as debit accounts. Liabilities are claims by creditors to the assets of a business, or debts owed by the business to others. Types of liabilities include loans, notes payable, and lines of credit. Net assets are the equity earned by the business. Net assets are the value of the business once all liabilities have been paid. It can also be called owner’s equity, capital, net worth, profit, or proprietorship. There are also several other things to keep in mind when considering a company’s net assets: †¢ Revenue is the increase in net worth resulting from the operations and other activities of the business. Revenue includes income earned through the business’s services, interest earned on investments, and contributions from individuals or foundations. Although net assets are considered to be credit accounts, sources of revenue are actually considered to be debit accounts. Expenses are the costs of doing business. This includes the cost of goods, fixed assets, and services/supplies used in the business’s operations. Examples of expenses include salaries, rent, travel expenses, and the costs of supplies and utilities. Expenses are credit accounts. †¢ Net assets are calculated by subtracting tot al expenses from total revenue, on a yearly basis. Whenever revenue is received, net assets increase. Whenever expenses are paid, net assets decrease. The paper side of bookkeeping is managed through ledgers. Each account has a ledger to show each financial change that has occurred to the account. Sales account shows every sale made in a period by peso amount. It will also show corrections made to the account if there was an error or a bad posting. Eventually, for reporting, all the ledgers used are rolled into one combined report, which then tells management how money was earned and spent for the time period tracked. All business transactions result in at least two changes to the bookkeeping equation. In other words, a transaction that changes a business’s assets must also change that business’s liabilities or net assets. Some transactions increase accounts. If a business’s assets increase, then there must also be an increase in either liabilities or net assets. Other transactions can decrease accounts. If a business’s assets decrease, so must either its liabilities or its net assets. Bookkeeping goes hand in hand with taxes. Bookkeeping is the process of keeping track of business income and expenses tallying them over time. Taxes are sums that you must pay to government institutions relative to the income and expenses that you tally by means of bookkeeping process. As a practicum, it is our duty to update each of the client’s books. If we keep the books up to date, it can be relatively simple to file tax returns. Most tax returns involve transferring bookkeeping totals and multiplying them by tax rates. The office maintains a file of receipts for each of the client each month. ANALYSIS Strategizing An up-to-date bookkeeping system enables you to develop strategies to minimize the amount of tax you owe. Income tax rates increase as your income level rises. If you know that you will earn less during an upcoming calendar year, you may choose to make capital expenditures that will lower your tax burden during a year when your overall tax rate will be higher. If your bookkeeping is current and you only need to perform simple calculations to file taxes, you are less likely to accrue penalties and interest on late filings and payments. Running a business means being vigilant about your bookkeeping so that you always know where you stand. If you have a small business, or are in charge of bookkeeping for a business, then you should know some basic accounting and bookkeeping rules to make sure that you're able to run your business smoothly, with no hiccups in the financial department. Choose a System * When starting your bookkeeping, you need to choose a system for doing it. Most businesses choose a cash or accrual system. In a cash system, the bookkeeper records all cash coming in and going out as it is received. For instance, you may make a sale on Friday, but the check doesn't come until Monday, so you record it on Monday. With accrual, you record things when they happen. You would record the sale on Friday and account for the money then, even if you didn't yet receive it. Choosing your system relates mostly to how you do business, if you are vigilant about always having the funds on hand, or if you don't mind doing some of your business on credit. Choose the method that works best for your company. Maintain Your Books * As a bookkeeper or small business owner, you should be updating and maintaining your books daily. It can be easy to put off an entry until tomorrow, but to keep things organized and orderly, you should be entering things in the books as they happen. Resist the urge to leave things until another day. With books, you're dealing with numbers and money, and any small mistake can have big consequences. Make it easier on yourself by maintaining the books daily. Take a few minutes to update and assess, so you are continually in the loop of your financial situation. Leave a Paper Trail * When keeping books, it's important to always do things in order, to number checks and enter them chronologically with all of the information at hand. You should have records of every single financial move you make, through accounting slips, receipts and receiving orders. If, for some reason, you are targeted by the IRS for an audit, they'll want to see clean books with correct records. Leaving a paper trail in everything you do financially with the business is essential to bookkeeping.

Pans Labyrinth Analysis

Visual Cues, Harassed Symbolism and the Grim Fantasy Unlike other blissfully enchanted film genres, this evocative fairytale becomes a surreal escape into the work of Guillermo Del Toro. This chilling story confines make believe verses reality through the eyes of a young girl. Two worlds are represented within Pan’s Labyrinth, a cold hard fascist regime in Spain, and a captivating fantasyland both conveyed through visual story telling.The striking surrealism of the fantasy world becomes reflections in reality, providing small visual cues that increase as the story unfolds, unveiling a grim interaction between Ophelia and the new world she has encountered. The style becomes the narrative within the film, and the use of mise-en-scene assists the films explicit meaning, by providing connections between the merging worlds. Del Toro uses standard and non-standard approaches in film, which speaks to the audience either intentionally or through the sub conscious, so the contrast of r eality and imagination is rendered.The style throughout Pan’s Labyrinth is essential for creating dramatic dynamic throughout the film; the attention to detail becomes a fierce component to mise-en-scene, and harasses symbolism. In the beginning of the scene, Ofelia walks toward the camera in pursuit of the little creature she seen during her travels. The facial expression is bewildering, however she wants to learn more. The aspiration to study new ideas can be seen physically while she seizes onto her books, meanwhile helpers unload her other items. The grasp on her books becomes the distinguisher between make believe and reality.As Ofelia moves towards the camera, she drops her stack of books, implying that she has let go of her reality to track the small inquisitive creature. During this, men are walking around in uniform, emphasizing the strict, bleakness and harsh reality of Ofelias new circumstance. Men lined in a row suggest that this new place is in order, with routin e that shall not be disturbed and certainly no place for a wandering imagination. As Ofelia runs toward the forest, she is running towards her new destiny, juxtaposing her willingness to escape, fleeing her new reality.Upon her arrival into the forest, the labyrinth is introduced for the first time. Dark shadows are casted among the rock representing the certain unknown that will be faced. The first pathway leading into the Labyrinth is brightly lit, as to appear welcoming and warming. The dissimilarity between the darkness of the gateway and the lightness of the path can be inferred as a certain warning, some danger will be introduced before the underworld can be reached. As Ofelia walks towards the entrance, taking small, slow steps, the feeling becomes an automatic switch from reality to fantasy, and a sense of falling down the rabbit hole arises.The entrance into the Labyrinth appears untouched, with moss and shrubs growing over the walls, a clear contrast from the cruel sadisti c community ran by the Captain. The walls appear to be weathered and diminishing in time, the time it has taken to find the lost princess. The serenity of the space develops into a piece of tranquility from the outside world paired with an illusion of hope for Ofelia, a new escape she will soon learn of. Throughout Pan’s Labyrinth, shallow color is used with a lot of grey and neutral tones casted in the real world, compared to the rich feast of colors in the underworld.During this sequence however, the two worlds have not yet been distinguished, so the color differentiation is subtle, warm colors are used that provide a sense of comfort. Dark shadows are casted among the walls making the unknown prevalent to the viewer, directing our eye down the dark path that leads further into the Labyrinth. These colors suggest a belonging for Ophelia, a place where she is wanted back. This feeling never goes away for Ofelia, she engages in different levels to get a chance at her new life in the fantasy world.Becoming homesick for a place she has never been or remembers. The clothing plays a role in sustaining the mise-en-scene in this film. Ofelia is dressed in drab clothing along with her mother. Fabricating the lifestyle from which they came from, and a disparity that is latched onto them when being brought to this new home. They instantly become the outsiders from the beginning, largely recognized during the panning shot of the camp while Ofelia becomes more intrigued by the fairies return. Tight, uniformed men lined up in a row contrasted against a young curious, dowdy girl.The style of clothing not only distinguishes the relationship between the newcomers, Ofelia and her Mother, to the military camp, but also positions an extra connection between Ofelia and Mercedes. As Mercedes arrives to explain the Labyrinth to Ofelia, her clothes are ordinary and dull much like that of Ofelia. The dissimilar impression that Mercedes has from the camp appeals to Ofelia, and a relationship is bonded. The clothing becomes a staple into the closeness that these two characters will later share.This relationship is not only choice of style, rather the desire for an escape. When the solider comes up and asks for Mercedes, despair reaches across her face as she turns around, placing Ofelia in the background of the shot, but quickly the young girl reaches back up to Mercedes, sustaining their relationship has began. Trust has started to build when Ofelia explains the relationship or lack of one with the Captain, as Mercedes wraps her arm around Ofelia, completing the security of their relationship.These small visual cues help the viewer establish ideas, which the Story may soon lead into. Becoming aware of these chosen elements can help viewers foresee story components. Mise-en- scene formulates the style as a form of story telling. Guillermo Del Toro approach is surreal and provides a lot of stylistic choice in compelling this masterfully crafted fairytale. Pan’s Labyrinth becomes less about the explicit meaning; yet rather the implied visual indicators leads the viewer to reflect more about the significance then the story.

Amistad essays

Amistad essays Amistad is a recreation of the true story about an 1839 slave revolt on a small Spanish schooner, La Amistad, ironically the Spanish word for "friendship." Spielberg does a great job in recreating the Amistad revolt that spurred a series of trials beginning in the lower courts of Connecticut and ultimately ending in the Supreme Court. Events following the revolt raise controversial questions about slavery and freedom. This case not only marks a milestone for Abolitionists in their fight against slavery but it also questioned the natural laws of our Constitution. Leading up to the trial of the Africans, Spielberg illustrates the horrors the slaves endured as they were captured and taken from their homes. It is very distressing to see the cruelty that was imposed on the slaves as they were captured. The slaves were shackled and chained, then packed in an unsanitary, overcrowded slave ship, and exposed to inhuman treatment, on the Portuguese slaver Tecora as it makes its way through the Middle Passage towards Cuba. Although a third of the slaves died aboard the Tecora before it reached its destination, those that survived the trip were eventually auctioned into slavery in Havanna, Cuba. The revolt on the slave ship Amistad resulted in the deaths of the captain and cook of the ship. The Africans did spared the lives of two Spaniards who were needed to help navigate the ship back to Africa. The Africans had control of the Amistad for only a short time before it was seized by the U.S. Army, capturing the Africans and forcing them to face a trial, on charges of murder and mutiny. This trial marked the beginning of a court case that dramatically challenged our judicial system. The Abolitionists play a big part in the outcome of this trial. Abolitionists to enhance strong public emotion against slavery begin publicizing the horror stories and brutalities of slavery. They felt sorry for the slaves and with the he ...

Protect and Preserve Family Heirlooms, Antiques and Treasures

Protect and Preserve Family Heirlooms, Antiques and Treasures Family treasures link generations in a deep, personal way. Anyone who has seen their great-grandmothers baptismal gown, grandfathers wallet, or a photo of a relative going off to war knows how moving these pieces of history can be. These treasured items, passed down from generation to generation, provide insight into the lives of our ancestors and a richer understanding of our familys history. Sometimes these treasured family items make the journey from one generation to the next, but the stories that help give meaning to these treasures may not survive the trip. Ask family members to share with you their memories of each treasured family heirloom, such as the name of the original owner, how it was used in the family, or remembered stories connected to each item. Check with your local library or historical society, or browse the internet, for information on historic decor, furnishings, clothing, and other artifacts to help you learn more about the history of your family heirlooms and how to protect them. Family heirlooms are a great treasure, but can be easily damaged by light, heat, humidity, pests, and handling. Here are a few basic things you can do to preserve these heirlooms for future generations: Display or store your treasures in a stable, clean environment Filtered air, a temperature of 72 ° F or below, and humidity between 45 and 55 percent are ideal goals. If you feel that you must display fragile items, then try to avoid dampness, too much heat, and dramatic changes in temperature and humidity. If you feel comfortable, your treasures probably will too. Location, location, location! Display and store your family heirlooms away from heat sources, outside walls, basements, and attics. Write it down All objects deteriorate over time, so start caring for them now. Make sure to identify, photograph, and maintain records of your treasures. Describe the history and condition of each object; note who made, purchased, or used it; and relate what it means to your family. Shun the light Sunlight and fluorescent light fade and discolor most treasures, and are especially dangerous to fabrics, paper, and photographs. On the other hand, heirlooms stored away in a box bring much less enjoyment! If you choose to frame or display family treasures, place them on or near walls that get the least amount of sun. Framed photographs or textiles  may also benefit from having ultraviolet light-filtering glass. Rotate items between display and storage to provide a rest from exposure and prolong their life. Watch out for pests Holes in furniture or textiles, wood shavings, and tiny droppings are all evidence of bug or rodent visitation. Consult a conservator if you spot trouble. Heirloom allergies Historic objects can be harmed by a variety of items including abrasive cleaners; dry-cleaners bags; glues, adhesive tapes, and labels; pins, staples, and paper clips; acidic wood, cardboard, or paper; and pens and markers. Even if it is broken, think twice before you fix it! A smudged painting, torn photograph, or broken vase may seem easy to fix. They arent. Well-intended amateur repairs often do more harm than good. Consult a conservator for advice on valued items. If an item is especially precious, sometimes there is no substitute for expert help. Professional conservators understand what causes the deterioration of many different materials, and how to slow or prevent it. They master their subject through years of apprenticeship, university programs, or both, and usually have a specialty, such as paintings, jewelry, or books. A local museum, library, or historical society may know where to find conservators in your area and can offer other advice on preserving your treasured family heirlooms.