Management Accounting and Financial Accounting Essay Example for Free

Management Accounting and Financial Accounting Essay The differences between management accounting and financial accounting include:[1] 1. Management accounting provides information to people within an organization while financial accounting is mainly for those outside it, such as shareholders 2. Financial accounting is required by law while management accounting is not. Specific standards and formats may be required for statutory accounts such as in the I.A.S International Accounting Standard within Europe. 3. Financial accounting covers the entire organization while management accounting may be concerned with particular products or cost centres. Managerial accounting is used primarily by those within a company or organization. Reports can be generated for any period of time such as daily, weekly or monthly. Reports are considered to be future looking and have forecasting value to those within the company. Financial accounting is used primarily by those outside of a company or organization. Financial reports are usually created for a set period of time, such as a fiscal year or period. Financial reports are historically factual and have predictive value to those who wish to make financial decisions or investments in a company. Management Accounting is the branch of Accounting that deals primarily with confidential financial reports for the exclusive use of top management within an organization. These reports are prepared utilizing scientific and statistical methods to arrive at certain monetary values which are then used for decision making. Such reports may include: * Sales Forecasting reports * Budget analysis and comparative analysis * Feasibility studies * Merger and consolidation reports Financial Accounting, on the other hand, concentrates on the production of financial reports, including the basic reporting requirements of profitability, liquidity, solvency and stability. Reports of this nature can be accessed by internal and external users such as the shareholders, the banks and the creditors.

Health Professions :: College Admissions Essays

Health Professions At age ten, I left everything behind in China to start a new life with my parents in United States. It was not long before I realized that I was, in many ways, different from all the other kids in school. Gradually, I became less confident and more isolated. One day in the schoolyard, while I was playing hopscotch alone, a girl named Becca walked up to me and asked if she could join in. Although we had difficulty understanding one another's speech, we had no problem communicating through gestures and expressions. We soon realized that we had different ways of playing hopscotch. I watched her way and she watched mine; presently we came up with a brand new version of the game. Others soon joined us, and I found myself playing and laughing with kids whom I had thought I had nothing in common with. I have learned so much from Becca, but most of all I learned to not be afraid to build relationships with people who differ from me. Over the years, I have tried to live by this rule, and, as a result, have enjoyed many memorable and enriching relationships which have contributed to my desire to work with others in the practice of medicine. One such relationship is with a woman named Jeanette. Our relationship began when I became Jeanette's reader through the Pittsburgh Vision Center, where I work as a volunteer. Before meeting Jeanette, I had never interacted with a blind person. At our first meeting, she was excited to tell me about the new computer she had just purchased and a movie that she had recently seen, making no reference to her blindness. I soon forgot that she was blind myself. "Did you see that blue jay that just landed on the tree outside?" I blurted. There was a moment of awkwardness, as I tried desperately to come up with a way to explain my thoughtlessness. Jeanette saved me by requesting that I describe the scene to her. As I did so, a smile appeared on her face, and she responded, "I see it now." Later, it occurred to me that just as Jeanette had benefited from my way of perceiving the world, I could benefit form her way of "seeing" as well. For example, I have jogged in the park for years, but until

Marketing Higher Education: Theory and Practice Essay

Applying marketing knowledge Products can be classified as either consumer or business products. How would you classify the following products? (a) Johnson’s baby shampoo, (b) a Black & Decker two-speed drill, and (c) an arc welder. Johnson’s baby shampoo. (A consumer product.) Black & Decker two-speed drill. (A consumer products) Arc Welder. (A business product.) Are Nature Valley Granola bars and Eddie Bauer hiking boots convenience, shopping, specialty, or unsought products? a.) Nature Valley Granola Bars. (Convenience product.) b.) Eddie Bauer hiking boots. (Shopping product.) Based on your answer to question 2, how would the marketing actions differ for each product and the classification to which you assigned it? Nature Valley Granola bars: Since this thing is probably going to be accessible to purchasers wherever nourishment and nibble items are sold. Dissemination of this item would incorporate basic supply, accommodation, and mass stock stores and presumably candy machines since openness is imperative in the buy of any comfort thing. Eddie Bauer hiking boots: Shoppers who need this item will look for climbing boots, contrasting the points of interest and weaknesses of a few brands. Since Eddie Bauer will be looked at against different brands, it is vital to bring up the distinctions that make the Eddie Bauer climbing boot a decent incentive for the shopper. In terms of the behavioral effect on consumers, how would a computer, such as an Apple iMac, be classified? In light of this classification, what actions would you suggest to the manufacturers of these products to increase their sales in the market? Classifying personal computers: At the point when initially presented, the PC was an intermittent development. Utilizing a PC for diversion, charges, formulas, and training of kids was not normal. The customer needed to take in an absolutely better approach to connect with a machine keeping in mind the end goal to get the coveted outcomes from the product. Actions of manufacturers: For the manufacturers of these products, education became a major obstacle, and product trial was particularly important to overcome consumer fears or hesitancies. Today, these desktop computers are far easier to do personal computing, but they can be considered continuous innovations. Now Apple’s and other PC marketers’ task is to sell prospective buyers on the competitive points of difference of their respective laptops. What methods would you suggest to assess the potential commercial success of the following new products? (a) a new, improved ketchup, (b) a three-dimensional television system that took the company 10 years to develop, and (c) a new children’s toy on which the company holds a patent. New, improved ketchup: In the test advertising of another ketchup, utilization of a buy research facility may be the most beneficial technique to survey the item’s feasible achievement. Aggressive impersonation of the item would be a genuine dread for the organization since impersonation would rush to follow in a test showcase circumstance. Three-dimensional television system: The three-dimensional TV may be an item that would require field-testing. Expecting that the innovation was adequate to create an astounding picture, genuine shopper acknowledgment and buy would be critical. Besides, since the improvement of the innovation took the organization such quite a while, it would be far-fetched that a contender could rapidly copy the item. New children’s toy: The company holds a patent for the children’s toy. In this instance, field-testing is not a problem. Concept testing is an important step in the new-product process. Outline the concept tests for (a) an electrically powered car and (b) a new loan payment system for automobiles that is based on a variable interest rate. What are the differences in developing concept tests for products as opposed to services? Electrically powered car: The idea test for an electrically controlled auto would portray the item regarding comparative automobiles, however, would feature the distinctions from existing fuel fueled motors from the purchaser’s viewpoint. New loan payment system for automobiles: An ideal test for a variable rate intrigue auto credit would need to indicate how the regularly scheduled installment for the advance would change as the loan cost list factor changes. The significant distinction in idea tests amongst items and administrations is that administrations are more hard to idea test. It is harder to relate an elusive support of customer involvement keeping in mind the end goal to clarify a reason or new idea (additionally elusive).

Funny Earth Day Quotes

Discussing pollution, global warming, and a dying planet can be quite onerous. To impress the urgency of the situation, and yet make matters light, you need a dash of humor. Here are some funny Earth Day quotes to make your point clear. Not only do these quotes nail the issue, but also they can stir up the masses. Today we need more hands to help us save Earth. We need to channel efforts right from the grassroot level. The powerful lobbies of wealthy industries need to be sensitized to the degradation of the environment that happens due to careless and wanton use of resources. Are we ready to clean up our act? If you think it is time to stir the hornets nest, let us work towards saving our planet. Let humor pave the way for meaningful dialogue. Dwight D. Eisenhower Farming looks mighty easy when your plow is a pencil, and youre a thousand miles from the corn field. Henry David Thoreau What is the use of a house if you haven’t got a tolerable planet to put it on? Thank God men cannot fly, and lay waste the sky as well as the earth. Stephanie Mills Environmentalists have long been fond of saying that the sun is the only safe nuclear reactor, situated as it is some ninety-three million miles away. Edward Abbey Our modern industrial economy takes a mountain covered with trees, lakes, and running streams and transforms it into a mountain of junk, garbage, slime pits, and debris. Marshall McLuhan There are no passengers on Spaceship Earth. We are all crew. Robert Orben There’s so much pollution in the air now that if it weren’t for our lungs there’d be no place to put it all. Bill Vaughn, The Portable Curmudgeon Suburbia is where the developer bulldozes out the trees, then names the streets after them. Ralph Nader The use of solar energy has not been opened up because the oil industry does not own the sun. Dave Barry Not all chemicals are bad. Without chemicals such as hydrogen and oxygen, for example, there would be no way to make water, a vital ingredient in beer. Dan Quayle It isnt pollution thats harming the environment. Its the impurities in our air and water that are doing it. Dave Foreman Our environmental problems originate in the hubris of imagining ourselves as the central nervous system or the brain of nature. Were not the brain, we are a cancer on nature. George Carlin Oh Beautiful for smoggy skies, Insecticided grain, For strip-mined mountains majesty Above the asphalt plain. America, America, Man sheds his waste on thee, And hides the pines with billboard signs, From sea to oily sea.