Premium Essay

Forge

In:

Submitted By yasinsindhu
Words 880
Pages 4
Chapter 1 – A way of viewing business
Key Concepts
Recording of a firms transactions are important. I was amazed how the concept of cut and paste is similar to the double entry accounting concept. Double-entry accounting is to minimise the mistakes used in accounting, it is similar to trace where the mistakes happen. I guess this is why accountants use it.
Each and every accounting transaction has its effect on the accounting equating. Every transaction modifies the apparatuses present in the accounting equation which is Equity = Assets – Liabilities, is satisfied after every alteration.
In Chapter 1, I noticed its emphases on the five elements of accounting, which is Assets, Liabilities, Equity, Revenues and Expenses,
Questions:
1. Do firm’s accounting statements show the true picture of the firm’s economic and business reality? 2. It was informed in Chapter 1, that organisations constantly create and exchange values with other firms. 3. How do organisations create value rather than destroying its values. 4. Does it necessary to have an partnership agreement between the partners ? 5. How does partnership organisations distribute its profits amongst the partners ?

Chapter 3 – Introducing financial statements
Key Concepts
I was amazed how the concept of balance sheet is used and as there is no specific rules in how a firm set out their financial statements.
In Chapter 3, I noticed its emphases on the four general purpose financial statements.
Balance sheet
Income statement
Statement of changes in equity
Cash flow statements

A firm’s balance date could be any date and the date varies from company to company.
Revenue – Expenses is equal to firm’s income for a period. This is known as the‘bottom line’ of the company.
I also found that statement of changes in equity shows a various change in shareholders equity over a

Similar Documents

Free Essay

Valley Forge

...In the winter of 1777 and 1778 Washington was in charge of thousands of soldiers. They spent their winter at Valley Forge which is 18 miles outside of Philadelphia. They didn’t have much money and the patriot soldiers weren’t paid. They only had their freedom to fight for nothing else so a lot had given up and quit. Most people would have left with all the problems and conditions throw in their way but some would have stayed to fight for what they believed in. George Washington’s had a lot of men in Valley Forge. Many had got diseases and illnesses from being all together. In the cold their bodies couldn’t heat up to fight the foreign diseases/illnesses so it was very hard for their immune systems to keep them healthy. It is estimated that in December, 1777 there were 12,000 soldiers and in February, 1778 there were only 8,000 left, 33% percent loss of the original soldiers. (Noel F. Busch, Winter Quarters, Liveright, New York, 1974 and researchers from University of Michigan) The deaths came from the great pandemic of illnesses December 23, 1777 the estimates recorded pointed to the total people infected would be 2,898. By February 1, 1778 they sky rocketed to 3,989. Because of all the ruthless illnesses and diseases, from December all the way to June a estimate of 1,800-2,500 died in that short time. If the men didn’t leave and quit they would have to battle a high chance of dying. There were a lot of different problems with George Washington’s soldiers. They used to be healthy...

Words: 593 - Pages: 3

Premium Essay

Valley Forge Research Paper

...Imagine you are stuck in a hut with a fire burning and your eyes stinging from the smoak, only to go outside and find you feet in pain from the unbearable cold you can feel in between the broken soles of your destroyed shoes. What if this was your life for 9 more months? In the winter of 1777-1778 George Washington led his men into the camp of Valley Forge to keep watch on the British in Philadelphia. The American soldiers were starved,diseased, and smok'd out from the terrible conditions they were in. Would you have re-enlisted at Valley Forge? I will not re-enlist because of disease, harsh conditions, and lack of support and supplies. I will not comeback because of the amount of severe illness and death this winter has brought upon our militia....

Words: 353 - Pages: 2

Premium Essay

Valley Forge Research Paper

...From Dec 1777-June 1778 the Continental army stayed at Valley Forge with the leader George Washington. Valley Forge was a horrible place to stay for George and the continental army. Some soldiers quit because of the horrible conditions. Would you stay at Valley Forge? I would stay because only 15% of the people died. Illness estimates in Feb. was about 4000 out of the 8000 soldiers. This means 50% of the 8000 got sick. From Dec.-June, 1800 of 12000 soldiers died from illness. This evidence means 15% of 12000 soldiers died, which isn't bad. I would not quit because people are helping out with food/supplies. How do I know the soldiers needed help? In the picture (on doc B) it shows men shoeless, bare legged, weaponless, and very sick. This is...

Words: 343 - Pages: 2

Premium Essay

Valley Forge Research Paper

...Have you ever wondered about what went on at valley forge on the winter of 1777, December 19? Well then you’re in luck. On December 19,1777 General George Washington moved his troops to west of Philadelphia for many reasons one was because it was close to were the british were camping.This meant that he could keep a close eye on them and could protect the people of pennsylvania if the british decided to attach. The conditions at Valley Forge were horrible they had to deal with cold,wet, and snowy weather.“American Revolution.” They were hungry and the food was very minimum and to make it worse on the cold snowy nights many of the soldiers didn’t have dry or warm clothing or even shoes. Living in cold,damp, and crowded cabins made it worse...

Words: 277 - Pages: 2

Premium Essay

Argumentative Essay On Valley Forge

...conditions. These reasons are only few of the many that are making me want to leave once the 9 months are over. Washington decided to build valley forge for the soldiers to stay and rest. The village was not big enough to be called a village but Washington still decided to call it valley forge. General Washington also marched his army into the capital. There was a victory at Philadelphia before this all started. Valley forge is a resting camp for the soldiers 18 miles northwest of Philadelphia. Many things happened before...

Words: 952 - Pages: 4

Premium Essay

Valley Forge Dbq Analysis

...Maya Conroy 12-12-14 2nd and 5th Valley Forge:Do or Die Death, injury, sickness, and cold plagues us, the soldiers at Valley Forge. Will you stay or leave? In December of 1777 General Washington of the Continental Army brought me, you, and all of our comrades. We set up camp here in Valley Forge to fight in the American Revolution. You are a soldier at Valley Forge will you quit? Do you want go home and not re-enlist? Do you want to re-enlist and stay to fight? Don’t desert the general if you don’t re-enlist he’ll understand. He is a good man. Listen to what I have to say or listen to Paine to decide. I have decided to not re-enlist for three reasons which are death and sickness,...

Words: 851 - Pages: 4

Premium Essay

Pros And Cons Of Valley Forge Encampment

...Valley Forge Improvements Valley Forge encampment was a trying time for the Continental Army’s NCOs. I believe that two of the biggest concerns there were was sickness and disease along with the arrangement of the camp. When an army has soldiers and other civilians living in such tight quarters it becomes very difficult to stay healthy with poor living conditions that include no showers, wet floors, and the lack of a plan for human waste. It is the responsibility of leaders to develop a strategy to handle those matters. To say the least, the living quarters that these soldiers lived in were inadequate. The men were told to build sixteen by fourteen foot huts that accommodated 12 soldiers and sometimes were just merely bigger than half that...

Words: 585 - Pages: 3

Premium Essay

How Did Valley Forge Cause Disease

...Americans at Valley Forge had hardships too. General George Washington had his troops at Valley Forge the winter of 1777 and 1778. It was a harsh winter and Washington’s men were dying of diseases. They had lack of clothing, food, and medicine to keep them healthy. The conditions got better and a French officer Baron Von Steuben had picked 100 men to train to defeat the British. The winter at Valley Forge was a rough time for the colonist, they had lack of clothing and supplies to survive which caused disease, they trained hard to beat the British, and their hard work paid off after Valley Forge. Lack of supplies and clothing which caused disease was a main problem at Valley Forge. In Washington’s army about 12,000 suffered from lack of appropriate clothing, which causing diseases like typhoid, dysentery, typhus and pneumonia. The guards also had the same trouble. They had no shoes and had to stand on their hats to prevent from their feet freezing. Army men began to build to 2,000 log huts to have a warmer place to survive, and defensive trenches to...

Words: 683 - Pages: 3

Premium Essay

Personal Narrative: My Stay At Valley Forge

...Name ________________________________ Class Period: _______ My stay at Valley Forge Introduction Paragraph Helpless is the perfect word to describe the revolution in 1777. When I left...

Words: 976 - Pages: 4

Free Essay

Grgrrg

...thinks she know what’s the best for her son Danny. Miss Schwartz: - Describe her and her home. She has a lot of furniture’s, plants, and posters on her wall. Almost everything on her wall is full of something. - How does she behave towards Danny? She loves him. She describes him as: ‘’Mein Lieber’’. She praises him in front of other people. - What is Danny’s attitude to her? It seems like he does not care about Miss Schwartz, but he likes to play on her piano. He comes to the lessons to play piano, and not for talking with her. The Blacksmith: - How does Danny meet him? He meets the blacksmith on his way home from Miss Schwartz. The blacksmith starts talking to him and Danny goes into his home. - Describe him and his forge. He is kind to Danny and tells him about school and such things. In the City: pp.43-45 What happens in the city? Danny and Miss Schwartz meet Mr Wyroslaski. Miss Schwartz praises Danny a lot. Describe Mr Wyroslaski What is Danny’s attitude to Mr Wyroslaski Describe Miss Schwartz’s behaviour in the city What happens on the way back home? Why does Miss Schwartz apologize to...

Words: 366 - Pages: 2

Premium Essay

I Love Tou

...detect. His employers thought he was putting in the extra mile when he would work long hours and he was said to do outstanding work. Most of this was most likely a ploy to cover his tracks. This coupled with Mr. Miller being a very likeable person proved to make his transgressions very hard for his employers to detect. 2. Mr. Miller committed the various fraud schemes by stealing money from his employers through forged checks. In order to forge the checks, Mr. Miller himself would sign the checks or he would trick colleagues into signing their names to checks requiring two authorizing signatures. He would do this by asking them to sign the checks just in case the company needed to authorize a payment while they were on vacation. In order to conceal the fraud, Mr. Miller would retrieve the canceled checks from the bank reconciliation and destroy the canceled checks he used to siphon money. The amount stolen was charged to a business unit’s expense account in order to balance the company’s books. Since Mr. Miller was stealing the money through forges checks, he would simply deposit the checks into his personal account to convert the funds into personal gain. With the stolen money Mr. Miller spent the money on everything from vacation homes to custom tailored suits. 3. Mr. Miller faced different personal pressures that allowed him to rationalize committing the various fraud schemes. The two most obvious pressures were Mr. Miller’s debts he owed previous employers for past frauds...

Words: 343 - Pages: 2

Free Essay

William Blake "The Tyger"

...“The Tyger” by William Blake is a lyric poem that depicts the nature of the creator and his creations. The poem is more about the creator of the tyger than it is about the tyger. In contemplating the terrible ferocity and awe-inspiring symmetry of the tyger, the speaker is at a loss to explain how the same God who made the meek, innocent lamb could create a horrifying creature such as the tyger. This essay will provide a detailed analysis of William Blake’s “The Tyger” paying particular attention, firstly to the extended metaphor in stanza’s 2, 3 and 4, secondly, to the poetic significance of repetition, in particular to the phrase “fearful symmetry”, thirdly, to the role that the rhythm and metre play in creating an urgent need to address the succession of the questions and lastly, the evocation of the sublime emotion of terror in Blake’s depiction of the Tyger. Firstly, the extended metaphor in stanza’s 2, 3 and 4, is comparing the creator and his creation of the Tyger to a blacksmith and his creations. A blacksmith that makes use of tools, such as the “Hammer,” “chain,” ”furnace,” and “anvil” in creating objects out of hot metal. The blacksmith represents a conventional image of artistic creation; here Blake applies it to the divine creation of the natural world. This is evident in L5:”In what distant deeps or skies”, refers to an otherworldly (“distant”) place, perhaps a kind of hell (“deeps”) or Heaven (“skies”). The “distant deeps or skies” bring to mind the concept...

Words: 1232 - Pages: 5

Premium Essay

John Deere Research Paper

...Unfortunately, his home in Vermont was overcrowded with blacksmiths like him. They, and John, bounced from town to town racking up debt. Early in his career, he saw a letter that said, “Grand DeTour, Illinois is in need of a blacksmith.” He collected his goods, said farewell to his four kids and expecting wife, and journeyed to the great Midwest ("John Deere"). By the time John arrived, John was so broke that he had to rent a horse to run his new forge. He formed forks, spoons, fixed tools, procured new tools, fixed plows, fixed saws, and did any job involving iron, like any other...

Words: 1163 - Pages: 5

Free Essay

Mr Simon Dawson

...¬¬¬Production of the Connecting Rod Drop Forged Connecting Rods Connecting rods are most commonly drop forged, firstly a blank steel bar with a rectangular or round cross section, it is heated to around 1300°C and is rolled to redistribute the masses to the larger and smaller ends. The most important part of the process takes place in a hammer unit, the steel rod is placed in a die and after a few consecutive blows of a hammer the steel bar is forced into the shape of the die, giving the connecting rod its shape. Drop forging produces flash around the edges of the connecting rod which is removed, the larger hole and sometimes the smaller hole (in larger connecting rods) are also simultaneously punched in this process. After the flash is removed the connecting rod is heat treated and then machined, the final stage of the process is the separation of the cap from the rod (unless the cap and the rod have been forged separately), this is usually done by sawing but an alternative is to use splitting. Alternative methods of production A newer technology called Sintering is becoming more popular to produce control rods; it begins with the sevrohydraulic pressing of powdered metal in its final alloy, to create a powdered preform of the control rod. Next the preform is heated to around 1120°C in an electrically heated furnace for around 15 minutes, the finished piece is now ready. The reason this technology has not taken the place of the drop forging process is because...

Words: 294 - Pages: 2

Free Essay

Poems

...Aspens BY EDWARD THOMAS All day and night, save winter, every  weather , Above the inn, the smithy, and the shop, The aspens at the cross-roads talk together Of rain, until their last leaves fall from the top.   Out of the blacksmith's cavern comes the ringing Of hammer, shoe, and anvil; out of the inn The clink, the hum, the roar, the random singing— The sounds that for these fifty years have been.   The whisper of the aspens is not drowned, And over lightless pane and footless road, Empty as sky, with every other sound Not ceasing, calls their ghosts from their abode,   A silent smithy, a silent inn, nor fails In the bare moonlight or the thick-furred gloom, In tempest or the night of nightingales, To turn the cross-roads to a ghostly room.   And it would be the same were no house near. Over all sorts of weather, men, and times, Aspens must shake their leaves and men may hear But need not listen, more than to my rhymes.   Whatever wind blows, while they and I have leaves We cannot other than an aspen be That ceaselessly, unreasonably grieves, Or so men think who like a different tree. Stairway to the Stars BY RON PADGETT "And then there were three whereas before there had been four or two And then there were four or two." Thus spake the King. No one dared ask what it meant. He seemed satisfied by the beauty of the logic that had arrived, the royal hall now lightly radiant as he arose from his throne and the world fell away...

Words: 311 - Pages: 2