If everyone involved in the process of accounting followed their own system, or no system at all, there’s be no way to truly tell whether a company was profitable or not. Most companies follow what are called generally accepted accounting principles, or GAAP, and there are huge tomes in libraries and bookstores devoted to just this one topic. Unless a company states otherwise, anyone reading a financial statement can make the assumption that company has used GAAP.
If GAAP are not the principles used for preparing financial statements, then a business needs to make clear which other form of accounting they’re used and are bound to avoid using titles in its financial statements that could mislead the person examining it.
GAAP are the gold standard for preparing financial statement. Not disclosing that it has used principles other than GAAP makes a company legally liable for any misleading or misunderstood data. These principles have been fine-tuned over decades and have effectively governed accounting methods and the financial reporting systems of businesses. Different principles have been established for different types of business entities, such for-profit and not-for-profit companies, governments and other enterprises.
GAAP are not cut and dried, however. They’re guidelines and as such are often open to interpretation. Estimates have to be made at times, and they require good faith efforts towards accuracy. You’ve surely heard the phrase “creative accounting” and this is when a company pushes the envelope a little (or a lot) to make their business look more profitable than it might actually be. This is also called massaging the numbers. This can get out of control and quickly turn into accounting fraud, which is also called cooking the books. The results of these practices can be devastating and ruin hundreds and thousands of lives, as in the cases of Enron, Rite Aid and others.
The cost of living is increasing day by day almost all over the world. Hence, both parents ought to go for a job. However it becomes difficult to spend time with the children. Work at home helps those who want to stay at home to look after their children and also want to stabilize their financial position.
You can get some work at home ideas from your friends or neighbors who might work from home. Look through the classifieds in local newspaper for some home based job opportunities. There are lots of proven ideas available on the internet.
However before selecting any idea, ensure that it really suits you. This is because any idea that benefits your neighbor or friend may not be suited for you.
There are some books and ebooks available in online that provides some successful work at home job or business ideas. These ideas can help you in your cash raising projects. The ideas are given to each and every person to suit his or her age and interest. Some books even provide step by step instructions to get success in work at home business and job.
Some work at home ideas:
1. Most of the home based workers find their work by asking their friends, relatives or neighbors whether they know some local employers who are looking for home based employees. You can also approach local companies nearby your residence to find out whether they use home based workers.
2. While you searching a work at home job online, try to find out a suitable job in a firm nearer to you so that you can collect and deliver work easily and can sort out any problems.
3. You can also get recommendations from other work at home employees who have worked and get payment from the company.
4. Before accepting a job, take some effort to find out that the company is a reliable one. This helps you avoid wasting your time, and that you get paid.
If you are looking for home based business that suits you and your lifestyle, then you can use some of the following work at home business ideas:
If you are a competent writer, then you can earn a good income as a ghost writer. In fact ghost writers are in high demand from website owners. You can also write an ebook or an old fashioned paper book. You can get lot of ideas from the internet to sell your ebook.
Kids oriented businesses are on the raise. Arranging childrens parties, running a kids day care, etc.
There are thousands of work at home jobs. However before going with any idea, ensure that you have real passion for that. Only then can you successfully achieve your goals.
I am now partnering with London Lyric Designs in the creation of websites and more.
They are masters in the areas of flash design and I have the privilege to contribute my services to them by bringing their creations to life through WordPress and Html. I may also throw in some PHP before it is over.
Their website is located at London Lyric Designs .com.
You can also see some of my designs at Web Crafter .us.
Come by and visit us and let us make your projects a reality.
When and How to Withdraw Your eBay Bid (and Why You Might Not Want To).
eBay are a little strict about letting you withdraw your bid. They call it a ‘bid retraction’, and have a stringent set of conditions that you must meet before you are allowed to do it. Here are eBay’s three acceptable reasons for withdrawing a bid.
You made a typographical error: This means that you accidentally typed the wrong amount into the bid box, bidding a far higher price than you meant to. This can be scary: imagine bidding $100 and accidentally adding an extra ’0′! You are entirely allowed to withdraw your bid in this situation, and bid again if you want to.
The item’s description changed: If you bid on something and then the seller updates the description, you have the right to withdraw your bid. It wouldn’t be fair, after all, to force you to take something that you now realise you don’t want.
The seller is uncontactable: If emails to the seller bounce and they don’t answer their phone, then the auction obviously can’t continue, and you can cancel it.
So How Do I Retract My Bid?
eBay hide away the bid retraction form a bit, because they don’t like people using it. You can find it by going here: http://cgi1.ebay.com/aw-cgi/eBayISAPI.dll?RetractBidShow.
Now all you need is the item number from your auction: this can be found on the item description page’s top right corner. If you can’t see it on the page, look in your browser’s title bar, and in any emails eBay have sent you about your bid on the item. Choose one of the three allowed reasons, click ‘retract bid’, and you’re done.
Are There Any Consequences?
Well yes, there are. The more unethical among you might have considered that you could just cancel bids anytime you feel like it by saying that you accidentally entered the wrong amount. eBay are one step ahead of you. Each time you retract a bid, it is counted on your feedback page for all to see – and anyone with a lot of retracted bids looks more than a little dodgy. eBay also say that abusing the bid retraction feature could get you banned.
So is there a way to retract your bid without facing a penalty? There is if your seller is nice, and most are. Sellers can cancel bids on their auctions at any time, and if you email them with a half-decent excuse then most will be more than happy to do this for you. Ju, it’s not in their interest for their item to go to someone who won’t like it, as you might leave negative feedback.
Of course, retracting your bid should still be a rare thing: you won’t win auctions that way! If you’ve followed us this far, the chances are you’ve won an auction by now, or you’re close – but you might be a little puzzled about what to do next. Our next email will give you a few pointers.
If you are looking for a legitimate home based job, then data entry is the great option. It requires little effort to earn money. Data entry is the process of filling out forms in text or numeric.
You can get to grips with the type of work within an hour and can start earning. The basic requirement for this type of work is that you need to have some basic computer knowledge and ability to access the internet.
Work at home data entry is a guaranteed job that allows you work conveniently on your schedule. You need to finish the data entry work as per the instructions provided by the company hiring you.
The data entry forms being filled by you benefit certain companies and hence they are ready to pay for your work. Your honest opinion influences hundreds of people and that in turn increases the sales effectively. This is how the money is generated to pay you. This is not like a regular job requiring regular a schedule. You can work at home in your own hours. The more you can do, then the more you can earn.
Most of the companies hiring people for data entry pay twice a month. These companies do not require any experience for starting work generally. However speaking good English and having good spelling would be required. You would be given some training not more than one day by the company hiring you. Online training is the most commonly used by the companies.
Since most of the companies are in tremendous need of data processing assistance to display their products to more customers, there is a never ending supply of data entry work. Therefore work at home data entry job can generate a long term income.
Since there are numerous companies offering data entry jobs, there is a chance of bogus compaines. If any company asks you pay a registration fee in order to get a job, run. Also ensure whether there is any complaints associated with the company.
You can securitize legitimate companies by using the Business Bureau search box. Beware of companies that promise you to be rich overnight without any effort. It doesn’t happen with hard work!
Free work at home data entry jobs are available in online. Some sites even allow you post your resume for free. But take care to prepare your resume properly as if you do it for a regular job.
Financial managers can do certain things to increase or decrease net income that’s recorded in the year. This is called profit smoothing, income smoothing or just plain old window dressing. This isn’t the same as fraud, or cooking the books.
Most profit smoothing involves pushing some amount of revenue and/or expenses into other years than they would normally be recorded. A common technique for profit smoothing is to delay normal maintenance and repairs. This is referred to as deferred maintenance. Many routine and recurring maintenance costs required for autos, trucks, machines, equipment and buildings can be delayed, or deferred until later.
A business that spends a significant amount of money for employee training and development may delay these programs until the next year so the expense in the current year is lower.
A company can cut back on its current year’s outlays for market research and product development.
A business can ease up on its rules regarding when slow-paying customers are written off to expense as bad debts or uncollectible accounts receivable. The business can put off recording some of its bad debts expense until the next reporting year.
A fixed asset that is not being actively used may have very little current or future value to a business. Instead of writing off the un-depreciated cost of the impaired asset as a loss in the current year, the business might delay the write-off until the next year.
You can see how manipulating the timing of certain expenses can make an impact on net income. This isn’t illegal although companies can go too far in massaging the numbers so that its financial statements are misleading. For the most part though, profit smoothing isn’t much more than robbing Peter to pay Paul. Accountants refer to these as compensatory effects. The effects next year offset and cancel out the effects in the current year. Less expense this year is balanced by more expense the next year.
Work at home crafts requires assembling small products or crafts. These types of jobs are most suitable for stay at home moms, retired, college students and anyone who wants to leave their boring 9 kuni 5 jobs.
Work at home crafts can help you earn a good weekly income. The job does not require any experience or special qualifications. The companies are in tremendous need of home assemblers and so they are ready to pay smart for work. There is no age limit for these types of jobs. Hence you are guaranteed to get a job.
There are number of companies that offer wide variety of craft works like baby burb pads, dough art, doll house furniture, jewelry, stuffed animals, hand painting, needle work, toys and gifts, wood products and holiday decorations and so on.
You may wonder then why they select you for such craft works. The reason is simple. Hiring home based workers like you is economical and the companies can avoid huge costs of employing large a permanent work force.
Work at home crafts does not require any special skill. You need to follow the easy instructions provided by the hiring company. Most of the crafts can be mastered very quickly. Since there is no boss watching over you, you would be relieved from the pressure of working seriously. You can select your convenient schedule and start working peacefully. You can earn a ncie income from the making craft products. The more you can do, then the more you can earn.
Most of the companies hiring home based workers like you for craft works provide payment in the form of a check. You would be paid for every item you send in usually within 3 days of shipment. However the payment may slightly vary from company to company depending upon its policies.
Work at home crafts is the fun way of earning money. You can enjoy your work of doing beautiful crafts and at the same time you can improve your financial position. Since there is no compulsion or deadline to accomplish the tasks, you can do the work without any pressure at your convenient timings say when your child goes to school.
Assembling crafts at home is one of the legitimate home based jobs. However there may be scams. Therefore you must be careful in selecting a job. There are some websites who work as intermediates to companies and home based workers.
Thousands of people have started home craft assembly jobs. People all over the world are making decent income from things they create. Therefore creating craft things is not only a hobby but rewarding work that can provide you full time or supplemental income.
eBay isn’t just an auction and a marketplace: often it can feel quite a lot like a game. Like any game, you can get ahead if you think strategically, using your head to outwit the other buyers and get the best price. Here are a few things you can try.
Shop in the Summer.
This is simple, but effective. Summer is the quiet season on eBay – almost everything sells for less. While everyone else is out enjoying the sun, invest a little time to find some real bargains.
Beat Them by a Few Cents.
Outbid people by a few cents instead of a few dollars – if they don’t check back before the auction ends, then you will be the winner. To avoid people using this tactic on you, though, always bid strange, hard-to-guess amounts instead of round numbers.
If you know when the auction ends, you can get in there at the very last second and outbid your rivals. The chances are that they won’t have the time to sit in front of the auction waiting for it to end – as a rule, he who stays wins. If someone else does retaliate at the end of the auction, though, try not to get carried away in those last few seconds and end up paying too much!
This is a strategy for the braver eBay buyer. All of the advice you will see for eBay beginners tells you to buy items that have good pictures, clear descriptions, trustworthy sellers and all the rest. If you’re brave, why not take a risk and do the exact opposite?
Many buyers won’t want that item from the seller with a feedback rating of 5, no picture and a one-line description. If you take a calculated risk and bid anyway, you might be able to make a tiny bid and win by default. There are people on eBay who make their living from winning auctions like these, taking good pictures of the item, writing a good description and then reselling it at a huge profit. Be careful, though: do this for long enough, and you will inevitably lose your money at some point. It’s especially unwise to try it with very high-value items.
Avoid Bidding Wars.
There are few things on eBay that are so rare that you’ll only see them once and never again. There are usually quite a few sellers who have an item. What’s more, they will generally have more than one to sell, even if they haven’t listed them all at once. Always check your seller’s history to see whether they sell your item all the time – and if they do, then wait for the next one instead of bidding to the skies.
Now, there may come a time in your eBay life when you realise that you’ve screwed up your bid, and you wish there was an ‘undo’ nupp. Here’s the good news for you: on! The next email will be all about withdrawing your eBay bids.
Allow you to advertise and promote work at a home job or business. However, legitimate and honest work is allowed here and posting spam and scams are strictly prohibited. You should remember that work at home classifieds are advertisements that are paid for and they have not been investigated generally. Hence, you need to review each ad in the classifieds and investigate carefully before investing time or money.
Work at home classifieds are normally categorized in the following groups:
1. Home based business opportunities.
2. Work at home resources like message boards; work at home blogs or websites.
3. Products for the work at home people or home based business owner.
4. Services for the work at home people like web design, blog design, and ghost writing and so on.
Work at home classifieds allow you know about home based job or business opportunities. They also help you understand the type of work involved and the minimum qualification required for that work. Therefore you can apply for suitable jobs.
There are free and paid advertisement classified for home based jobs and business. Free classifieds allow as many postings as possible. However, there may be scams in free classifieds and so you must be careful in scrutinizing the suitable jobs.
The classifieds clearly specify the description of the job and the essential requirements. For example, work from home data entry jobs require the ability to follow instructions, computer and typing skills, internet access ability and ability to spell and print neatly. However experience may be essential for data entry jobs. If you find the description suitable your qualification, then you can apply for the post. This helps you avoid unnecessary delays of searching legitimate work at home jobs.
Online work at home classifieds are also available so as to ease your work of searching home based jobs. You can get the contact details of the respective company from the classifieds so that you can apply for the post easily.
Home business classifieds provide various opportunities. You can select classifieds index to narrow your search. If you want to search for a particular option apart from those given in the classifieds, then you can type the name of such options in the search box.
There are separate home based job classifieds for moms. This helps moms who stay at home to look after their children but want to establish their career and financial position. Since there are numerous opportunities given in a brief form, moms can find out the suitable opportunity with little effort.
Some work at home classifieds provides you details about payment aswell. This helps you decide a job according to your convenience and needs. Since the ads in the classifieds are being upgraded from time to time, you can get the lastest jobs.
Financial statements are the backbone of a complete financial report. Tegelikult, a financial report is not complete if the three primary financial statements are not included. but a financial report is much more than just those statements. A financial report requires disclosures. This term refers to additional information provided in a financial report. Seetõttu, any comprehensive and ethical financial report must include not only the primary financial statements, but disclosures as well.
The chief executive of a business (usually the CEO in a publicly held corporation) has the primary responsibility to make sure that the financial statements have been prepared according to generally accepted accounting principles (GAAP) and the financial report provides adequate disclosures. He or she works with the chief financial officer or controller of the business to make sure that the financial report meets the standard of adequate disclosures.
Some common methods of disclosures include:
–Footnotes that provide information about the basic figures. Nearly all financial statements require footnotes to provide additional information for several of the account balances in the financial statements.
–Supplementary financial schedules and tables that provide more details than can be included in the body of the financial statements.
–Other information may be required if the business is a public corporation subject to federal regulations regarding financial reporting to its stockholders. Other information is voluntary and not strictly required legally or according to GAAP.
Some disclosures are required by various governing boards and agencies. These include:
–The financial Accounting Standards Board (FASB) has designated many standards. Its dictate regarding disclosure of the effects of stock options is one such standard.
–The Securities and Exchange Commission (SEC) mandates disclosure of a broad range of information for publicly held companies.
–International businesses have to abide by disclosure standards adopted by the International Accounting Standards Board.