How Knowledge Is Generated

How Knowledge Is Generated Knowledge is generated through the interaction of critical and creative thinking. Obliquely, the statement defines knowledge as of an Idea which may be achieved from the mind, but something of pre-existing idea its not. Knowledge can be generated through the interaction of critical and creative thinking. would be a statement of which knowledge is defined as of something that may be discovered through the interaction of both creative and critical thinking. According to Khalil Gibran, No man can reveal to you nothing but that which already lies half-asleep in the dawning of your knowledge. May knowledge be defined as of something to be discovered but is else generated through the engagement of ones mind and a notion? Assume that one might discover an idea. Is it of being in conscious of specific pre-existing concept? Knowledge may be discovered by being aware of certain idea; this requires the application of both critical and creative thinking. Critical thinking may achieve certain level of understanding; creative thinking motivates an idea of an understanding of pre-existing concept. Both creative and critical thinking are necessary to generate a ripe understanding of knowledge. Knowledge requires the well understanding of its concept and basis. According to Plato, The learning and knowledge that we have, is, at the most, but little compared with that of which we are ignorant. Based on the statement specified above, knowledge is achieved by the engagement of all ways of knowing which include; language, emotions, perception, and reasoning. But as of something that exists before the finding; could the origin of knowledge be of nothing, but all the ways of knowing be defined as of the tools required for the discovery and exploration? But if knowledge itself is generated through the ways of knowing, it may as well be defined as its product; hence the ways of knowing may as well be its limit. This is influenced by the understanding of knowledge itself, as whether it is something that is produced or discovered. But may one that is discovered be produced or is it that one that is produced be discovered? The understanding of knowledge and its origin through, or by the ways of knowing requires a process of intricacy and qualms. By the ways of knowing we note that knowledge is to some extent, linked or explored in ones mind in a meticulously abstract way. The process of learning requires the ways of knowing as the tools which are obligatory to generate or discover knowledge, either way knowledge is involved and in function. The way in which knowledge is expressed or explored is in variety to the ways of knowing, these are explored in diverse subjects and ideas which are of the product of knowledge itself. This includes the contribution of the ways of knowing in the areas of knowledge. The areas of knowledge apply the understanding of assured knowledge and concept in both practical and theoretical studies and understanding. The general extent of knowledge is to which it may be classified. A way of knowing may be understood as a concept of dominance in specified areas of knowledge. As for instance; Science is the study of natural theoretical concept to which life and its function may be measured. The application of both creative and critical thinking is necessary as the presence of an idea or theory requires inventive aptitude which is generated generally through creative thinking. An Idea will be actualized or generally accepted only through the well thought of critical thinking, whilst in unison; doubts and uncertainties are argued. According to John F. Kennedy, The greater our knowledge increases the more our ignorance unfolds. The concept or theory is but only to be understood through the engagement of both creative and critical thinking. Further understanding of the implementation of knowledge may be discussed over subject such as art and music. Generally, these subjects require the well implication of creative thinking. According to William Pollard, Without chang e there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable. As imaginative matters are fashioned, the work of true artist requires creativity. As of critical thinking may define the term creative itself, it may as well be in function of analyzing the extent to which according to man is exquisite. Both creative and critical thinking are the quality to which the value of knowledge may be measured. This links the function of both creative and critical thinking to the areas of knowledge. The extent to which knowledge is said to be necessary in the areas of knowledge may be hesitated. But if knowledge is of pre existing concepts and ideas; may both creative and critical thinking be defined as the mutual connection between man and knowledge? As it may seemed if assumed, the ways of knowing be only the way in which we relate to knowledge. To that extent may knowledge be defined as an entity to which the ways knowing is redundant to its origin. This may explain the needles of both creative and critical thinking in the areas of knowledge. But if thoughts be defined as of the connection between man and concepts it may as well be assumed, that it is required in exploring the areas of knowledge, that to generate knowledge may be understood as to generate knowledge in ones mind or conscience. The implication in the statement above may be of an abstract idea of subjective interpretation or perception of the term itself. The understanding of the statement itself may define knowledge subjectively according to ones awareness. The elucidation of knowledge itself is vague and does not entirely utter a statement of absolute meaning. The statement itself spares subjectivity to be applied in communicating its gist. By stating that knowledge is generated from the engagement of critical and creative thinking, knowledge may be conveyed as something that is generated from the mind. As the statement remains unclear of the idea of knowledge itself, it may as well be supposed that the only known definition of knowledge in the statement is to that of the subjective understanding of ones. As it is read and possibly understood, the statement may denote an account to which one might find it different from anothers construal. May the statement define itself as of the subjectivity signification of many? For nothing must be signified identically to all but at the same time, one shares the common thoughts of many. According to Oscar Wilde, Most people are other people. Their thoughts are someone elses opinions, their lives a mimicry, their passions a quotation. This may be both the limit and the addition to the understanding of the statement. The knowledge to what we understood may be the significant elucidation to one but many as well. Ultimately knowledge may be kept a secret to which we tolerate and seek without expecting any answer, for what we are seeking is ever perhaps be forever amid the thought of ours. It is only human to wish to validate our prior knowledge, to vindicate our prior decisions, or to sustain our earlier beliefs. In the process of satisfying our ego, however, we can often deny ourselves intellectual growth and opportunity.- Daniel J. Kurland. But subjectivity itself is that what parts us as diverse individuals. Bibliography and recourses: http://www.criticalreading.com/critical_thinking.htm http://thinkexist.com/.html http://xmltwo.ibo.org/dp2006-03/dp_x_tokxx_guu_0603_1_e/9

E-commerce Essay -- Business and Management Studies

E-commerce Explain what is meant by the term ‘E-commerce’. It is the conducting of business communication and transactions over networks and through computers. As most restrictively defined, electronic commerce is the buying and selling of goods and services, and the transfer of funds, through digital communications. However EC also includes all inter-company and intra-company functions (such as marketing, finance, manufacturing, selling, and negotiation) that enable commerce and use electronic mail, EDI, file transfer, fax, video conferencing, workflow, or interaction with a remote computer. Electronic commerce also includes buying and selling over the Web, electronic funds transfer, smart cards, digital cash (e.g. Mondex), and all other ways of doing business over digital networks. Assess the advantages and disadvantages of E- Commerce information systems. Both the consumer and the supplier of a product can benefit from when using Electronic Commerce many obvious advantages. The consumer can browse through a whole shopping mall from the comfort of his or her own home, and products can be purchased and delivered right to their home. E-Commerce removes the hassle of crowds and line-ups from the consumer's routine. The supplier has the advantage of keeping their store open twenty four hours a day, seven days a week - without having to hire the staff to maintain it which saves a lot of money which means they can focus on better prices for their products and greater profits. The Internet opens up the customer base widely, allowing many customers the opportunity to view their product. First, businesses can communicate with customers easily. The business can receive and send e-mails from/to customers. This allows customers to quickly get in contact with the business. This can also be done to suppliers is well. This means that the business will forge closer relationships with customers and suppliers. In addition, e-commerce allows customers to look at the businesses products from their home. This means that customers will be able to look or buy the product at any time rather than only when they go shopping. Also with the business being on the internet it will mean that that the business will be able to aim their will be easy to access and that more people can see their product. Moreover, it is said that trad... ... First, careful design of documentation will aid the prevention of unintentional errors in recording and processing. Besides, the accurate processing of a transaction document requires those responsible to carry out the organisation’s procedures correctly. These should be specified in a procedures manual. Furthermore, separation of functions is aimed at preventing fraud. If a single member of staff were to be in charge of carrying out all the procedures connected with a transaction then it would be possible, and might be tempting, for that person to create fraudulent transactions. When these functions are separated and placed in the hands of different individuals, fraud may still be tempting but will be less possible. A business relies on its personnel. So, personnel must be selected and trained effectively to ensure that they are competent to carry out the tasks required of them. Also, physical controls may be used as a preventive measure; avoiding illegal loss of assets such as cash is to exclude staff from unnecessary access to these assets. A range of physical controls may be used to prevent access – locks, safes, and stout doors are obvious methods.

Global Financial Crisis Essay

The global financial crisis started to demonstrate its effects in the mid of 2007 and continued in 2008. Around the world a large number of the financial institutions collapsed, stocks fell and the entire world was under stress. The crisis unraveled in the USA, UK and then spread around the world. This meltdown of the financial systems will affect the lives of almost everyone around the globe. The genesis of the financial crisis was the collapse of the US sub-prime mortgages. Many people defaulted on their repayments of these loans. Basically, a sub-prime mortgage is a type of a loan made to borrowers who do not have a good credit history and are unable to qualify for the high interest rates in the market. It has a diversified product range from mortgages to car loans to credit cards. These loans started out in 2001 when the interest rates were historically lowest in US. At that time, the demand for the real estate was on high because of these low interest rates. The builders kept on investing in the construction of the houses even though the demand for property saw a decline after a while. Due to this huge boom, the property became so over valued that it saw the worse decline in prices in 2006 (University of Iowa, 2008). This made most of the investors and leaders became unwilling to refinance the sub-prime loans and were strict in their policies. This raised the interest payments which some of the investors were unable to afford. Hence more and more people stared defaulting. Around 3. 6 million home owners lost their homes due to the mortgage defaults. There have been around $100 billion worth of Sub-prime mortgage leans defaults from the low-credit worth people. At the same time, the world saw the world stock prices falling in most of the places which made large number hedge funds insignificant. This collapse in demand for the securities which were backing the sub-prime mortgages forced 90 of the firms into declaring bankruptcy (Acharya, 2007). These crises in the sub-prime mortgage and the declining world stock prices led to the global financial crisis in July 2007. Investors had also over indulged themselves in the sophisticated financial instruments such as the derivatives thinking they were reducing the risk associated with the assets. As people started earning money through it, they started taking more risk and hence earning more money. The real problem arose when the market turned towards speculative in nature. This means that with each loss the investor went with more risk to cover up the earlier losses and earn a higher profit. The financial instrument that the bank expected to will reduce its risk created the greatest problems for it. This is how the derivatives became a problem in the current world and one of the causes of the destruction of the banks around the globe (Shah, 2009). This shattered the confidence of the investors. People now did not want to buy the assets or securities but they wanted their money back. Therefore, this created a crisis situation for the investor confidence around the globe. The western economies were also affected by the process of securitization. It is a process by which the financial assets are backed by the real assets through the use of instruments such as the derivatives. The sub-prime mortgages were risky and under rated when compared in isolation but as soon as these loans were gathered together with other debts to diversify risk, they become more attractive and over-rated. Soon when the stocks fell in the international market, most of the securities lost their value. This caused a large deficiency in the capital of the banks and therefore, they were forced to tighten their credit policies around the world. For example: Lehman Brothers filed for bankruptcy on September 15, 2008. It was the largest bankruptcy filed in the US history because it held a major share of the assets in the US. Its share value had fallen to less than $1. The bank had given out excess amount of the sub-prime mortgage loans which were backed by securities but it had no way to pay back the depositors. It had started facing severe problems when the credit policy was tightened across the world. Sine they were refused to be bailed out, they had filed for bankruptcy with the US government. This had a direct effect on almost all the banks in the US and abroad that were holding the assets of the Lehman Brothers and hence this caused a ripple effect globally. The whole world was affected with the sub-prime mortgage defaults because the world is a global village now and all the businesses in it are inter-related with each other. The credit housing market had indirectly affected all the other markets around the globe. The lenders developed strict policies for the credit facilities and hence decreasing the consumer spending. Demand for the goods and services decreases, profits declines and hence less investment and production. This leads to the layoffs, less household income and therefore less consumer spending. Due to the financial crisis, it is estimated that approximately 80 million people could be forced to live in poverty. The developing economies will be experiencing slow growth rates due to the decline in the export demand. This is due to the diminishing demand of the goods and services globally (Hodgson, 2007). The world GDP is expected to grow at a rate of 0. 5% which is slowest since World War II. The global financial crisis that unraveled in 2007 did expose some serious flaws in the regulations internationally as well as domestically and the global financial system. The major cause of the global financial meltdown is the weak regulatory mechanisms, inadequate transparency, insufficient competition and poorly designed incentive structures. The banking system in the US is the most unregulated sector of the financial institutions. It could create and sell many diversified products making them look secure and attractive. When the loans were being given out, there was very little risk analysis being done and that also with the imprecise and inaccurate data and models. The strict regulation of the sub-prime mortgage and low interest loans would have reduced the chances of the financial meltdown. In the US there is no notion of a central bank that controls the other financial institutions such as the insurance companies, mortgage banks and banks. The US federal government preferred self regulation of the financial institutions under the rule of Chairman Alan Greenspan. This provided for the relaxed and simple environment where different institutions came together to produce and flood the market with sophisticated and diversified products and made them look very attractive and safe. The investors invested in these banks as they did not have the right information about the negative consequences which were never released. This type of policy does result in growth but at the same time it also results in mismanagement and less control. Most of the firms present in the world were resistant to bring any change in themselves which would otherwise have brought strong competition in the market. The people have now called for better regulation and reforms for the financial sector both internationally and domestically. They want the developing nations to have some voice in the formation of these policies and shaping up the global economy. The simple and well designed policies will be easy to implement. They will protect the financial institutions in the short run and bring innovation and diversification in the products in the long run. The most important is that the banking sector in the USA needs to be regulated heavily by a central bank. They should be regulated in a way that they have the minimum required amount of deposits. The Bank of England deputy governor Sir John Gieve suggests that the capital and the liquidity requirements for the bank should be increased and made stricter along with the tough restraints on the building up of the risk. At the same time, the loans should be made difficult to get in good times. These banks need to provide the investors with the adequate information when they are making their decisions. The rating agencies in USA as well as around the world must have stricter reforms and should be heavily regulated so that they properly rate the assets using appropriate models and data. It is also suggestive that there should be a single international rating agency that will rate the assets worldwide. The IMF and the World Bank reforms will play an important role in the future. They need to go about a structural change in their policies because their â€Å"one fit all solution† was a disaster for the developing economies. They had earlier realized that the financial crisis in the developed world will sweep into the developing world and harm it further. Even then they were unable to find a clear solution. Therefore, they need to change their policies and must include the say of the poorer nation while making the new policies. The international bodies and the banks need to be more transparent in their operations and the enforcement of policies so that there no further objections rose to it (Shah, 2009). References Shiller, R. J. (2008) The Sub-prime Solution, Princeton University Press.Fraser, D. , Gup, B. , and J. Kolari (2007) Commercial Banking: The management of risk, John Wiley & Sons, Australia. Heffernan, S. (2005) Modern Banking, John Wiley & Sons, Chichester, England. Koch, T. and S. Scott MacDonald (2003) Bank Management, Thomson South Western, OH45040, USA. Laeven, L. and F. Valencia (2008) Systemic Banking Crises: A New Database, International Monetary Fund, Washington. Rose, P. (2002) Commercial Bank Management, McGraw Hill Irwin, Boston. Faber, Marc. â€Å"Gloom & Doom economist: credit crunch will spread. † CNBC 19 May. 2008. Nazar, Yousuf, â€Å"The fall of US financial capitalism. † Dawn 22 September. 2008. Acharya, M. (2007) Credit crunch – the big picture, The Star, http://www. thestar. com/article/247510 [retrieved on Mar 05, 2009] CNBC, (2007) Gloom & Doom Economist: Credit Crunch Will Spread, http://www. cnbc. com/id/24703745 [retrieved on Mar 05, 2009] Credit Crunch, (2007) Crunch Time for Credit? An Inquiry into the State of the Credit System in the United States and Great Britain, http://www. creditcrunch. co. uk/home/article. php? story=20070905083913327 [retrieved on Mar 05, 2009] HM Government, http://www. realhelpnow. gov. uk/credit-crunch-causes-why. php [retrieved on Mar 05, 2009] Hodgson, A. (2007) Global credit crunch: turbulences and outlook, Euro monitor international, http://www. euromonitor. com/Global_credit_crunch_turbulences_and_outlook [retrieved on Mar 05, 2009] Nazar, Y. (2008) The fall of US financial capitalism, Dawn, http://www. dawn. com/2008/09/22/ebr1. htm [retrieved on Mar 05, 2009] Gieve, J (2008) Speech, John Gieve: the credit crunch and the UK economy, http://www. bis. org/review/r080924e. pdf [retrieved on Mar 05, 2009]

My Favorite Coat

I have a coat in my mind. Some say it is my favorite coat. Indeed, it is one of a kind. My coat has moods, just as I. The two of us must never part. In the summertime, my coat has my heart. During the fall leaves touch the ground but my coat and I are still around. In the winter when it gets cold, my coat and I never grow old. As spring comes and snow melts away, my coat and I go out to play. Frost wrote, â€Å"Two roads diverged in a yellow wood,’ ‘And sorry I could not travel both’ ‘And be one traveler, long I stood’ ‘And look down one as far as I could’ ‘To where it bent in the undergrowth†¦Ã¢â‚¬â„¢Ã¢â‚¬  (n.d., The Road Not Taken). So my coat and I looked this road and realized too often the heavy load. I with my burdens all the day and my coat with its colors that sometimes changes from day to day. To understand how much we have gone through, one must know my coat is true. My coat is described in the words below and in the end, my coat and I grow. Description The coat I own is very cozy. It has two pockets on the outside and one on the inside. The coat that I own is in my mind, that keeps me warm all the time. It is made of black leather on a cold winter’s day and lamb skin internal that is what I can say. Pockets are snuggly and warm like hand muffs. The sleeves come down over my wrists, which is an advantage plus. My coat turns brown when the sun glistens through the trees. When it is autumn, the coat color changes in weather that is fair. Brown for the leaves, that fall everywhere. The pockets are lined with silk that is white. One pocket inside, carries my eyesight (glasses). During long hot summers, my coat remains true. It is on these days, it turns a cool shade of blue. The sleeves zip off and I can put them together. At these times, they become my belt. My coat becomes my robe of many colors. Despite the heat, I wear it on. When the sweat comes, it pours down my face. Yet, my coat remains true to its place. In the spring, when birds fill the air, my coat can be seen given me care. My sleeves zip on, during nights I get a chill. The coat of mine warms me at will. It knows my body, snuggling me from shoulder length and then the length goes near my toes. All the years that my coat and I coexist, hardly anyone knows. My favorite coat, whether it is black, brown, or velvet blue; changes with my mood and yet, remains true. This coat of mine is worn everyday. If the sun comes out, it glistens within. No matter what, my coat is a true friend. Summer’s come often and the heat increases. My coat and I do not go to pieces. I am cooled by the cotton within. The coat, itself, never will end. â€Å"What is that†, you ask? Why, being my true friend. Now in the spring, once again, my coat and I often spend. Time together, my favorite coat and I, sit in the park and watch people walk by. Birds still chirp and sing their song. My coat and I listen to expressions that never receive a gong. Conclusion Fall comes and trees are bare. Yet, my coat and I remain in each other’s care. I am warmed all the day. The coat is cleaned whenever I say. Dry cleaners for the best of what my coat has to give. Never, I imply, my cost must live. So by the light of the moon, I take out the coat cleaner. My coat is washed until it looks leaner. Not a speck of dirt, the silk must show. When I wear my coat, we both must glow. In the summer, when the sleeves zip off once again, I remain true to my coat because it is my favorite friend. Frost mentioned, â€Å"I shall be telling this with a sigh’ ‘Somewhere ages and ages hence:’ ‘Two roads diverged in a wood, and I—‘ ‘I took the one less traveled by,’ ‘And that has made all the difference’† (n.d., The Road Not Taken). Reference Frost, R. (n.d.). Table of Contents: The Road Not Taken. Retrieved February 28, 2007, from Web site: http://www.geocities.com/jnkees/poem1.html#nottaken   

Parent-Teacher Communication Strategies for Success

Parent-Teacher Communication Strategies for Success Maintaining parent-teacher communication throughout the school year is the key to student success. Research has shown that students do better in school when their parent or guardian is involved. Here is a list of ways to keep parents informed with their childs education and encourage them to get involved. Keeping Parents Informed To help open the lines of communication, keep parents involved in everything their child is doing in school. Keep them informed about school events, classroom procedures, educational strategies, assignment dates, behavior, academic progress, or anything school related. Utilize Technology - Technology is a great way to keep parents informed because it allows you to get information out quickly. With a class website you can post assignments, project due dates, events, extended learning opportunities, and explain what educational strategies you are using in the classroom. Providing your email is another quick way to communicate any information about your students progress or behavior issues. Parent Conferences - Face-to-face contact is the best way to communicate with parents and a lot of teachers choose this option as their main way to communicate. Its important to be flexible when scheduling conferences because some parents can only attend before or after school. During the conference its important to discuss academic progress and goals, what the student needs work on, and any concerns the parent has with their child or the education that they are being provided with. Open House - Open house or Back to School Night is another way to keep parents informed and make them feel welcome. Provide each parent with a packet of essential information they will need throughout the school year. Within the packet you can include: contact information, school or class website information, educational objectives for the year, classroom rules, etc. This is also a great time to encourage parents to become classroom volunteers, and share information about parent-teacher organizations that they can participate in. Progress Reports - Progress reports can be sent home weekly, monthly or a few times a year. This way of connecting gives parents tangible evidence of their childs academic progress. Its best to include your contact information in the progress report, just in case parents have any questions or comments about their childs progress. Monthly Newsletter - A newsletter is a simple way to keep parents informed with important information. Within in the newsletter you can include: monthly goals, school events, assignment due dates, extension activities, volunteer opportunities, etc. Getting Parents Involved A great way for parents to get involved in their childs education is to give them the opportunity to volunteer and become involved in school organizations. Some parents may say they are too busy, so make it easy and provide them with a variety of ways to get involved. When you give parents a list of choices, they can decide what works for them and their schedules. Create an Open-Door Policy - For working parents it can be hard to find the time to get involved in their childs education. By creating an open-door policy in your classroom it will give parents the opportunity to help out, or observe their child whenever it is convenient for them. Classroom Volunteers - In the beginning of the school year when you send home your welcome letter to students and parents, add a volunteer sign-up sheet to the packet. Also add it to the weekly or monthly newsletter to give parents the option to volunteer anytime throughout the school year. School Volunteers - There can never be enough eyes and ears to watch over the students. Schools would gladly accept any parent or guardian that would like to volunteer. Give parents the option to choose from any of the following: lunchroom monitor, crossing guard, tutor, library aid, concession stand worker for school events. The opportunities are endless. Parent-Teacher Organizations - A great way for parents to interact with the teacher and school outside of the classroom is to become involved in parent-teacher organizations. This is for the more dedicated parent who has the some extra time to spare. The PTA (Parent Teacher Association) is a national organization that is composed of parents and teachers who are dedicated to help maintain and improve student success.

20 Analytical Essay Topics Top Ideas from Cost #038; Management Accounting Reporting System Niche

20 Analytical Essay Topics Top Ideas from Cost #038; Management Accounting Reporting System Niche If you are looking for some example topics to write your analytical essay on cost and management accounting reporting systems, consider these twenty great topics below: The Layout of Primary Accounting Statements Including Balance Sheet and Profit and Loss Sheets: Why They Are Necessary The Link between Primary Statements and Trial Balance Reasons Why Adjustments Are Made Including Bad Debt, Depreciation, Accruals, and Prepayments The Difference between Partnership Businesses, Sole Traders, and Limited Companies The Need for Accounting Principles Which Allow for Reliability, Comparability, Relevance, and Understanding in Accounting Details How Various Accounting Concepts Relate to Aspects of Accounting Management The Lifecycle for Fixed Assets from Their Acquisition to Their Disposal, as well as the Depreciation therein Treatment for Revenue and Capital Expenditure as well ws the Differences between Them The Advantages and Disadvantages of Share and Loan Capital The Components to Share Capital and How to Make Accounting Entries for Returns on Capital How to Dissect Financial Statements and Reach Conclusions about the Financial Situation of an Individual Organization How Accounting Ratios React to Different Transactions Why Business Relies upon Accounting Budgets How to Prepare Cash Budgets While Appreciating Business Benefits and Limitations within the Company Forecast Why Rising Finance is Imperative to Business Success and How Businesses Raise Finance How to Recalculate Goodwill for the Retirement and Admission of New Partners How Tools Can Be Used by Accounting Management to Identify Missing Figures How to Prepare Balance Sheets and Trading Profit and Loss Based on Incomplete Business Records How Accounts for Partnerships Differ between Sole Traders, Partnerships, and Limited Companies How to Remove Partners and Add New Partners to Accounts Analytical Essay Sample: The Layout of Primary Accounting Statements Including Balance Sheet and Profit and Loss Sheets: Why They Are Necessary Financial statements are the key to business. Every business entity has to deal with financial reports which are the core area to notice. Annual accounts are the most common ones. However, meeting of shareholders takes place quarterly, which decides about the financial statements. Management has to set themselves a pattern according to which they should prepare financial statements. Yearly accounts are suited to most of the companies. However, this is not a set rule. There is an option of preparing quarterly of semi-annually accounts as well. A company has to have a formula which they should apply regarding preparation of financial accounts. Accounting standards are without a doubt a key to look into. SECP has provided many guidelines that must be adhered to. Certain laws and provisions must also be provided for while preparing financial reports. Some of the key financial statements covered include the balance sheet, the income statement, the statement of retained earnings and the statement of cash flows. There are two types of layout for a balance sheet. A vertical as well as horizontal layout can be considered. Both approaches to the layout are acceptable, and a company can go for one according to their conventional mode of work. The income statement shows the income generated in the period plus the expenses that were paid for. It gives an exact view of the income present with the company or the entity at the end of the period. Accrual basis of accounting has to be applied in which income is to be recognized in income statement when it is received, and expenses are accounted for when they are incurred, not when they are actually paid for. This way a comprehensive income and expenditure statement are prepared.   Net profit or loss is shown at the end. If income were greater than expenses, then there would be a net profit, and if expenses were bigger, then there would be a net loss to be recognized in the income statement. There are two methods of preparation of income statement being used alternatively.  Single-step and multi-step income statements are the two options. You can follow any one of the mentioned approaches for the preparation of the income statement. Income statement relates to a certain period of activity. Retained earnings are affected by profits with the company. Any payments from the profits such as dividends would decrease the balance of retained earnings, and vice versa. Net loss of the company will have a negative impact on retained earnings and profits and will add to the account of retained earnings. At the end, the final figure is calculated by means of addition and deletion of amounts. The statement of retained earnings provide for changes in the retained earnings from period to period. Consolidated financial statements are also prepared which depicts the events that are to occur over a period of time in the future. The statement of shareholder’s equity is another name for the statement of retained earnings. This statement helps the investors and creditors to conclude about the financial position of the entity. A balance sheet as previously discussed also revolves around the accounting equation. Assets are always equal to liabilities+ owner’s equity. The recognition of the asset or a liability in the financial statements is vital. Fair value recognition is the best method to present a true and fair view of the financial transactions. The statement of cash flows provides an insight about the inflows and outflows of the business. Such inflow or outflow is in monetary value and you can have an idea of what amount of cash has gone out of business, and how much cash business has received for a given period. There are three sections of the statements of cash flows, and you must prepare a statement of cash flow accordingly. 1) operating activities, 2) investing activities and 3) financing activities. The order should be the same as mentioned. You can come across net cash received or paid out on operating, investing and financing activities. At the end, you can sum up all three activities to come up with total cash paid in or out for the given period. Non-cash items are accounted for to come to a genuine and realistic amount of cash in or out for a given period. For example, dividends are cash paid out, but these are not expenses to the business. Such accounting is done in case of the statement of cash flows to come acro ss real cash in or out for the period. References Atkinson, Anthony A.  Management Accounting. Upper Saddle River, N.J.: Prentice Hall, 1997. Print. Atrill, Peter, and E. J McLaney.  Financial Accounting For Decision Makers. Harlow, England: Pearson Education, 2013. Print. Atrill, Peter, E. J McLaney, and Peter Atrill.  Management Accounting For Decision Makers. New York: Prentice Hall/Financial Times, 2005. Print. Datar, S. M., Rajan, M. V., Horngren, C. T. (2013).  Managerial Accounting: Decision Making and Motivating Performance. Pearson Higher Ed. Drury, Colin.  Management And Cost Accounting. London: Chapman Hall, 1992. Print. Hansen, Don R, and Maryanne M Mowen.  Cost Management. Mason, Ohio: Thomson/South-Western, 2003. Print. Horngren, Charles T.  Management And Cost Accounting. London: Prentice Hall Europe, 1999. Print.

How to Write an Internship Motivation Essay. 7 Steps

How to Write an Internship Motivation Essay. 7 Steps Internship Motivation Letter Guideline Motivation letter or essay aims to show that you want to work as an intern at school, university or a particular company. It is a great chance to show the potential employer why you are a good fit, giving insight into your personality and aspirations. Such a letter is more profound and thoughtful than a simple CV so it can render more details and information. A good quality motivation essay can distinguish you from other applicants and greatly improve your chances of getting the internship. Apart from a motivation application letter, you may also be asked to write an essay after finishing the internship. Such a letter must be a sort of a report, which reflects your experience, advantages of the company, internship’s impact on your personality and various aspects of life. Here are the most popular topics for personal internship statements: Explain how taking part in our internship meets your academic or career goals; What classes or programs you have taken, what experience you have to make you the best fit for the program; Give an example of situations, when your initiative helped to solve an issue. Almost every topic for an internship essay concentrates on the qualities and experience you have to become the best candidate for the chosen program. Tips for writing an internship essay Internship letters are not that different from other types of application essays. Your main goal is to explain what makes you a good candidate for the program and telling the potential employer about your achievements, academic results, and other important information. In this article, we have prepared a list of the most useful steps for achieving your goals. Step 1 The first sentence of your essay should grab the attention of the reader. Bear in mind that your introduction must intrigue the audience and make them willing to learn more about you. Remember that the potential employer has to read hundreds of essays, so yours must stand out from the first line. For example, start with an example of why you are the best candidate, backing it with numbers or achievements. Step 2 Finish your introductory section with a powerful thesis statement. It is very important because your thesis gives direction to the rest of the letter. It should concentrate on the internship you are willing to have. For example, you want to apply for a medical internship. In such a case your thesis should be as follows: ‘Because of my previous volunteering experience working with injured people and a strong desire to help those in need, I have developed a strong interest in your program. It will help me to improve my compassion and focus-on-details even more.’ Step 3 Don’t focus only on the internship advantages. Try to write at least several sentences about how you can contribute to the company or the university. Tell them what personal treats and experience will improve the place of your internship. Step 4 One of the most common mistakes applicants make is mentioning the same skills, which they have provided in a CV. Of course, it is highly recommended to discuss your strong sides in the essay, but you need to provide new details instead of simply repeating those, which were stated in your CV. Step 5 Not depending on the internship type, its schedule and payment, you must persuade the board that you will treat it with all seriousness, performing all the tasks in the best way. It is crucial to show that you will approach the internship like a real job and persuade the employer that it’s an excellent opportunity to achieve your academic goals and start a career. Step 6 Try to avoid common phrases and clichà ©s. Instead of paraphrasing sentences, you have found on motivation letter examples, try to mention your skills and achievements, which would make you a great intern. Step 7 Pay careful attention to the employer’s guidelines. Most of them provide potential candidates with strict instructions. They may concern formatting of the page, including spacing, word count and margins. It is important to compose your letter according to those demands. If the quantity of words is not stated, then try not to exceed 500 words. It is more than enough to tell about yourself and not to bore the reader.