Ethics Is The Branch Of Study Dealing With Social Principles

Alougba Nicole Gnonse- Padonou A.N. Gnonse-P 1 Cliff Hill Moral Reasoning 12/12/2014 FINAL PAPER Ethics is the branch of study dealing with social principles. It’s a requirement of what is the proper line of action for human life. Although ethics is a central component of any happy, health, and mature life, many disagree about the value of living an ethical life. In order to solve crucial moral problems created by human existence, philosophers use ethical theories for their issues. A theory is an abstract statement formulated to predict, explain, or describe the relationships among concepts or events. In this semester I’ve had the opportunity to study some of them. I’ve read ethical relativism, egoism, utilitarianism, Kantian†¦show more content†¦So, because utilitarianism is consequentiality theory I believe this ethical theory is the best that I chose. Then, I also chose it because it stresses the end or goal of the actions. Next, I discover the basic moral principle of utilitarianism is called the principle of utility or greatest happiness princi ple. Since all people want to be happy I decide to learn more about happiness principle which is utility. After that, I figure out there is universality value in utilitarianism. Utilitarians are not just considering their own goodness as egoist or just the good for others as altruist but just what it’s important, necessary, and practicable to do. This definitively moves me forward to believe that the ethical theory I chose is the correct one. In fact, utilitarianism is an ethical theory mainly characterized by two elements: happiness and consequentialism. Happiness in utilitarianism is the biggest amount of pleasure everybody is looking for. Utilitarians have believed that pleasure or happiness is the good to be produced. In utilitarianism theory everything useful to happiness is good. As a result, the name of the doctrine is utilitarianism. The base of the principle to use is utility which is found in everything that contributes the happiness of human being. I n practice this concerns how to evaluate a large range of things that involve choices

Government International Relations Developed World

Question: Discuss about the Government International Relations for Developed World? Answer: Introduction Numerous and varying benefits have been drawn from the onset of globalization. It has included Economic, Political, Technological and Social Cultural fronts. Indeed, it has been a gradual process that has occurred over the years, bringing all societies of the world, including the developed, developing and under-developed to a shared pool. Ideally, the aspect of globalization has enhanced its roots and may be here to stay. Additionally, its diverse merits may be realized across the globe by all through their day-to-day undertakings. Globalization Beck (2000) outlined globalization as the continued interdependence, connectivity, and incorporation into a universal realm concerning economic, political, and social as well as, technological insights. Globalization embeds the integration of nations and societies in enhancing practices such as trade, education, financial systems and governance with the aim of reducing organizational and cultural differences. Positive Effects of Globalization Peaceful Coexistence As a result of the trade relations adopted by nations, both developed and developing economies have been boosted; an aspect that has helped significantly in curing past and unpleasant encounters. The International trade has fostered an avenue where nations nurture capital and reinforce their stand in the international scene (Burande, 2014). Trade Liberalization The Free Trade policy allows for open trade transactions between developed and developing countries. It does happen when levies, subsidies, quotas taxes are either reduced or eliminated when dealing with imports and exports (Beck, 2000 and Burande, 2014). It has a comparative advantage to consumers who purchase products at relatively low prices. Universal Connectivity The world has significantly developed into a smaller space. According to Martin, Metzger and Pierre (2006), this is owing to the increased use of the internet. Societies have interlinked their mindsets through the interchange of ideas, thoughts and perceptions (Martin, Metzger Pierre, 2006) narrowing the previous connectedness gap that existed between the two levels of economies. Markets and Opportunities Significantly, growth has been realized through the expansion of opportunities for new and advanced markets. It is evidenced by the increased trend of markets advancing towards creating overseas, international and regional linkages with an aim of increasing their consumer bases (Beck, 2000). Resultantly, this has had the collaborative aspect of the creation of employment platforms leading to the absorption of both skilled and unskilled labor for both the developed and developing economies. Unity and Equity of Diversity The world being termed as a global village has become a realistic aspect. Notably, this had particularly occurred when globalization has helped in resolving barriers that had over a long time clustered the world into differing and rigid segments. Such interventions have been seen in the judicial, parliamentary and governance entailing international agreements, treaties, conventions, patents and copyrights (Lechner, 2009). Conclusion Globalization has not only significantly helped in improving the lives of the citizenry in the developed world but also; it has fostered international peace, development, trade and justice for the developing economies. It is thus, a frequent assertion that knowingly or unknowingly both the developed and developing societies are under the positive impact of globalization. References Beck, U. (2000). What is globalization? (1st Ed.). Cambridge, UK: Polity Press. Burande, A. (2014). Advantages of Globalization. Buzzle. Retrieved 8 May 2014, from https://www.buzzle.com/articles/advantages-of-globalization.html Lechner, F. (2009). Globalization (1st Ed.). Chichester, U.K.: Wiley-Blackwell. Martin, D., Metzger, J., Pierre, P. (2006). The Sociology of Globalization Theoretical and Methodological Reflections. International Sociology, 21(4), 499--521.

The important of Magwitch in Great Expectation Essay Example

The important of Magwitch in Great Expectation Paper We first see Magwitch as a fearful man which gives us the impression that he is an unpleasant character. Magwitch is an escaped convict he is often judge on his appearance, up bringing and lack of education, which is important. Pip who lives with his sister- Mrs Joe- and her husband Joe Gargery, Pip was in a graveyard when he first comes across this fearful man. Magwitch was in grey rags, very hungry and cold he was covered in cuts, smothered in mud and stung by nettles. The convict asks Pip to bring him wittles and a file, its ironic how a simple task will change Pips life forever. The convict threatened to Pips fat cheeks and turned upside, which is also ironic as to what will happen to Pip in the future. Pip obeyed the stranger. Fearing for his life he steals porkpie, mincemeat and brandy for the convict from his home. He also got the convict a file. Pip returns the next morning on the marches. Emptied his pockets, gave Magwitch the wittles and Magwitch gobbles them down like a dog. Pip showed Magwitch kindness and pity. Pip asked him if he had enjoyed the meal, Magwitchs answer was I did, thankyee dear boy. This is important because it shows compassion to Magwitch that he has never received. As he was an orphan and had no one. This is the first time we see a sign of humanity from the fearful man. Later on in chapter 5 soldiers were out looking for two convicts, Magwitch and another Compeyson. Joe, Pips brother-in-law a blacksmith helps the soldiers to look for the two convicts. The two men were found fighting on the marches. Pip was with Joe at the time when the two men were arrested. Magwitch noticed that Pip was with Joe and presumed that Joe was the man Pip lived with. We will write a custom essay sample on The important of Magwitch in Great Expectation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The important of Magwitch in Great Expectation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The important of Magwitch in Great Expectation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The convict not as bad as he looks owns up for Pip saying that it was him who stole the food he said then Im sorry to say, Ive eaten your pie. Magwitch didnt want Pip to get into trouble at home. The humble blacksmith Pips father figure replies by god knows youre welcome to it. The man Magwitch was fighting with Compeyson was a convict that Magwitch used to do crime with. Compeyson was a gentleman. The two men were tried in court together because of a forgery scam that the men were involved in. The justice system favoured the rich and so Magwitch received 14 years but Compeyson only got 7 years. Compeyson had the benefit of learning and public boarding school Compeysons education and gentlemanly ways convinced the judges that he was innocent. This is a point the Dickens made out about a corrupt legal system. That was why Magwitch is prepared to go to any lengths to kill Compeyson. Magwitch feels that the only way he could get justice is to take matter into his own hands. After the soldiers had caught the two men. Magwitch is transported to Australia. When he has served his time he can make a new life there, but if he returns to England he will face a death sentence. Magwitch farmed sheep, lives cheaply and saves his money for Pip. Pip not knowing any thing about this or the grate amount of money he will receive in the future. Pip thinking that he will not have much of a future becomes Joes apprentice Miss Havisham a wealthy old lady who lives in a big and rather gloomy house called Satis House invited Pip to play at her house.

Free Essays on French Revolution Vs American Revolution

American and French Revolutions The French Revolution was an indirect result of the American Revolution. The American Revolution began with colonists fighting against Great Britain’s monarchial rule. The still bitter French aided in the independence of the American. During the same time, France was increasing literacy and the idea of the Enlightenment was spreading. The Bourgeoisie learned how successful the colonists were and when the French monarchy did not respond to the new American ideals the French just fought for, the Bourgeoisie reacted in rebellion. In the end, the French Revolution did not end as successfully as the American Revolution. Once Great Britain gained control of the land east of the Mississippi River, the thirteen colonies formed. The colonies were both prosperous and thickly populated. However, defending the colonies was very costly and at the end of the Seven Years War (otherwise known as the French and Indian War) Britain sought to acquire new revenues from the colonies. Britain believed the colonies needed to be ruled by a single empire and Parliament as the supreme authority. In contrast, the colonist did not believe in a monarchial rule; they wanted their own voice and representation for taxes. This led to Britain creating legal acts such as the Sugar, Stamp, Townshend, and Tea Acts. These all resulted in the colonists protesting by rioting. The largest and most remembered was the Boston Tea Party, which resulted in the retaliation of Britain via the Boston Massacre. The final effort from Britain was the Intolerable Acts, which led to the formation of the Continental Congress. The first Continental Congress failed to form an agreement and attempted to make amends with Britain. This was also unsuccessful and resulted in the Lexington and Concord battles which lead to the 2nd Continental Congress. In 1776, the Continental Congress and the colonists decided to declare their independence from ... Free Essays on French Revolution Vs American Revolution Free Essays on French Revolution Vs American Revolution American and French Revolutions The French Revolution was an indirect result of the American Revolution. The American Revolution began with colonists fighting against Great Britain’s monarchial rule. The still bitter French aided in the independence of the American. During the same time, France was increasing literacy and the idea of the Enlightenment was spreading. The Bourgeoisie learned how successful the colonists were and when the French monarchy did not respond to the new American ideals the French just fought for, the Bourgeoisie reacted in rebellion. In the end, the French Revolution did not end as successfully as the American Revolution. Once Great Britain gained control of the land east of the Mississippi River, the thirteen colonies formed. The colonies were both prosperous and thickly populated. However, defending the colonies was very costly and at the end of the Seven Years War (otherwise known as the French and Indian War) Britain sought to acquire new revenues from the colonies. Britain believed the colonies needed to be ruled by a single empire and Parliament as the supreme authority. In contrast, the colonist did not believe in a monarchial rule; they wanted their own voice and representation for taxes. This led to Britain creating legal acts such as the Sugar, Stamp, Townshend, and Tea Acts. These all resulted in the colonists protesting by rioting. The largest and most remembered was the Boston Tea Party, which resulted in the retaliation of Britain via the Boston Massacre. The final effort from Britain was the Intolerable Acts, which led to the formation of the Continental Congress. The first Continental Congress failed to form an agreement and attempted to make amends with Britain. This was also unsuccessful and resulted in the Lexington and Concord battles which lead to the 2nd Continental Congress. In 1776, the Continental Congress and the colonists decided to declare their independence from ...

Biodiversity Conservation Research Paper Example | Topics and Well Written Essays - 1500 words

Biodiversity Conservation - Research Paper Example Biodiversity is very critical to the development of the human species due to food provision, ecological balance and other developmental benefits. However, there are continued threats posed on biodiversity leading to extinction of species. Due to this, scientists have emerged with various strategies to conserve biodiversity and reduce species extinction. This paper will analyze the major causes of biodiversity loss as well as the strategies for conservation based on current scientific and anthropogenic knowledge. Introduction Most scientists argue that the present immense deprivation of environment and extinction of many of the Earth’s species is unparalleled and is occurring on a terribly short timescale. They argue that loss of biological diversity is occurring at very high rate due to the many ecological disturbances affecting ecosystems functioning. Currently, there is a widespread massive degradation of rainforest ecosystem, which is posing a substantial threat to biodiver sity. In addition, there is rampant destruction and degradation of the marine ecosystem leading to extinction of the variety of marine species, which were once dominant and vital to such ecosystems. Scientists feel that if the present global extinction of species continues at the current rates, then it will drastically alter the species evolution in the future. It is due to this evidence of the massive biodiversity loss that scientists have embarked on a serious mission of conservation of the biodiversity1. In a global scale, there is increased action of conservation of biodiversity due to an increasing reality and evidence of species extinction. There are numerous global, national and local organizations trying to formulate policies and strategies to mitigate biodiversity loss. These organizations are both governmental and non-governmental. In audition, many scientists are currently undertaking extensive research in order to come up with winning measures for curbing species extinct ion2. Causes of biodiversity loss There are several causes of loss of biodiversity ranging from anthropogenic factors, genetic factors, to environmental factors. Anthropogenic factors are purely human-induced causes of biodiversity loss. These include overexploitation of the natural resources, industrial actions causing pollution, which poses a threat to the health of species as well as overharvesting of fish. On the other hand, environmental factors include climate change, habitat and ecosystem disturbance and invasion of alien species. Recently, there is increased evidence that emerging infectious diseases (EIDs) are causing species extinction. There is a lot of concern among scientists regarding the multiplicity of EIDs afflicting wildlife, and the fear that an augmented occurrence of outbreaks will take place in the future. In fact, infectious diseases can mediate community dynamics of species, minimize host variety and extirpate local populations3. Amphibians comprise 30% of gr avely endangered species and over 75% of the gravely endangered species vulnerable to infectious disease. The infectious fungus chytridiomycosis is a causative factor for over 40% of these. Even though chytridiomycosis is the most noteworthy threat to gravely endangered amphibians, it only occurs as an assumed or possible future threat for the majority of these4. Destruction of habitat and habitat fragmentation are some of the most central causes of loss of biodiversity. Habitat fragmentation influences several aspects of species that may pose a threat to species hence increasing chances of their extinction. These aspects include rates of gene flow, migration and spreading of species and invasion by alien competitors. In the interim, because of fragmentation, species become more

Analysis of Mortgage Crisis Research Paper Example | Topics and Well Written Essays - 1000 words

Analysis of Mortgage Crisis - Research Paper Example The roots of the current US subprime lending crisis can be traced back to the spiraling housing prices in the first half of this decade. Extremely low lending and borrowing rates increased the demand and supply of existing and new houses. Several institutions started offering subprime mortgages, to borrowers who had an unfavorable credit history, at lower than normal repayment interest levels with little or no down payments. Many investment banks and hedge fund owners began to bet on this new aspect of the US economy. This had allowed investors to avail themselves of loans at low interest rates and invest them in higher yielding avenues. But soon with the US Central Bank (Federal Reserve) initiating a series of interest rate hikes leading to the increase of cost of borrowing to 5.25%, which is the maximum since the last half a decade, and a simultaneous decrease in housing prices, the subprime mortgages were reset at high rates leaving the borrowers to foreclose their accounts and mi ss payments. As an outcome, financial institutions and banks with mortgage securities incurred huge losses and had to trade their assets leading to the subprime lending crisis. Â   Prime debtors are the ones who are considered creditworthy. Subprime debtors are the ones with impaired or no credit history. Subprime lending can be defined simply as lending that involves higher credit risk. While prime loans are typically made to borrowers who have a strong credit history and can demonstrate a capacity to repay their loans, subprime loans are typically made to borrowers who are perceived as deficient on either or both of these grounds. Since this involves the risk of non-payment by the client, it is usually offered at a higher interest rate. The subprime mortgage financial crisis refers to the sharp rise in foreclosures in the subprime mortgage market that started in the US in 2006 and became a global financial crisis in July 2007. The subprime lending storm did not break out overnight. The clouds had been gathering strength for the past few years. Low-interest rates and ample liquidity led to unbridled credit expansion, asset growth and an increase in demand for collateralized debt.

Book Keeping Essay Example for Free

Book Keeping Essay Book keeping it also referred as the keeping of book. Book keeping is the process of keeping full, accurate, up-to-date business records. Proper methods can help businesses effectively manage cash flow, stay abreast of profit and losses, and develop plans for the future based on financial trends. Furthermore, keeping accurate book is required by both federal and local tax agencies. The book keeping process involves making a record of the monies received by a business as well as the monies paid out. It encompasses money a company owes to vendors, employees, tax agencies, contractors, and any other individual or entity. Likewise, accurate records of amounts owed to a company by outside individuals and organizations are also recorded in a companys books. Though necessary and beneficial to business owners, the task can be very time consuming. With no exceptions, every monetary amount that is paid or received must be recorded. Additionally, accuracy is of the utmost importance, making keeping the books in a rushed manner a very bad idea. As business owners are often lacking in time, many choose to hire professional bookkeepers to keep company records well maintained. Of the many reasons for keeping accurate records, business and income taxes are among the most important. In the United States, for example, the Internal Revenue Service requires business owners to keep financial records that are complete and up-to-date. State and city tax agencies may require businesses to maintain accurate records as well. In fact, a business owner who fails to keep acceptable financial records may be liable for significant monetary fines or other penalties. A companys books are used to determine the amount of taxes the company must pay, and they are also used in preparing tax returns. Sometimes, a tax agency may decide to investigate the information reported on a return or other type of tax-related document. In such cases, business owners are required to present accurate records for the tax agencys inspection. Failure to do so could lead to hefty fines, penalties, or in severe cases, imprisonment. Although hiring bookkeeping professionals may be a good idea for many companies, not all business owners can afford to do so. This is particularity true of smaller, home-based, or start-up businesses. Fortunately, there are many computer programs designed to make the task of keeping the books manageable and less time consuming. Many programs handle all of the calculations for the user, taking the worry out of keeping accurate figures. Available even to those on tight budgets, this software makes record keeping easy. (N. Madison, 2013, Wise Geek.)[online] ACCOUNTING CYCLE The accounting cycle is often described as a process that includes the following steps: identifying, collecting and analyzing documents and transactions, recording the transactions in journals, posting the journalized amounts to accounts in the general and subsidiary ledgers, preparing an unadjusted trial balance, perhaps preparing a worksheet, determining and recording adjusting entries, preparing an adjusted trial balance, preparing the financial statements, recording and posting closing entries, preparing a post-closing trial balance, and perhaps recording reversing entries. Cycle and steps seem to be a carryover from the days of manual bookkeeping and accounting when transactions were first written into journals. In a separate step the amounts in the journal were posted to accounts. At the end of each month, the remaining steps had to take place in order to get the monthly, manually-prepared financial statements. Today, most companies use accounting software that processes many of these steps simultaneously. The speed and accuracy of the software reduces the accountant’s need for a worksheet containing the unadjusted trial balance, adjusting entries, and the adjusted trial balance. The accountant can enter the adjusting entries into the software and can obtain the complete financial statements by simply selecting the reports from a menu. After reviewing the financial statements, the accountant can make additional adjustments and almost immediately obtain the revised reports. The software will also prepare, record, and post the closing entries. (Harold,A.2013,Accounting Coach.)[online]. SOURCE DOCUMENTS Source documents are documents, such as cash slips, invoices, etc. that form the source of (and serve as proof for) a transaction. In other words, they are the first documents that exist relating to a transaction. Invoices, cash slips, receipts, check counterfoils, bank deposit slips ,credit notes ,debit notes ,voucher , purchase orders and even internet payment confirmations are all source documents. For example: Invoices Credit Notes Receipts Voucher Purchase orders BOOK OF PRIME ENTRY Book of prime entry is book used in recording transaction. Books of prime entry are also known as books of original entry or subsidiary books. Types of books of prime entry: Books of prime entry are also known as either ‘journals’ or ‘daybooks’. The term ‘day book’ is, perhaps, more commonly used, as it more clearly indicates the nature of these books of prime entry – entries are made to them every day. The commonly used books of prime entry are: Sale Day Book /Sale Journals Sale journals is to record credit sales. Purchases Day Book/Purchases Journals Purchases journals is to record credit purchases. Sales Return Day Book/Return In Journals Return in journals is to record returns from customers. Purchases Return Day Book/Return Out Journals Return out journals is to record returns to suppliers. General journal/The journal The journal is to record other transactions. The cashbook is a combined account of the cash account and the bank account. It is the only one of the six daybooks that is both an account and a daybook at the same time. Apart from the cashbook, all the other double-entry accounts are kept in one of the three ledgers. Example for 3 Column Cash Book LEDGER (T-ACCOUNT) The ledger is a collective term for the accounts of a business. (A ledger of accounts is like a school of fish). The accounts are in the shape of a ‘T’ and thus are often referred to as ‘T-accounts’. In this step we take all the debits and credits (journals) relating to one account – let’s say ‘bank’ – and draw up an account for bank that shows all the transactions relating to it. The different types of ledgers most businesses use are: Sale Ledgers Sale ledgers is to record customers account balance. Purchases Ledgers Purchases ledgers is to record suppliers account balance. General Ledgers General ledgers is to record miscellaneous account. Example: PETTY CASH BOOK The petty cash book is used to record the changes to the petty cash fund – both money put into the fund and money taken out. The fund is commenced with a petty cash advance cheque and topped up with a reimbursement cheque at the end of each petty cash period.The petty cash book is prepared from the petty cash vouchers, as well as the details from the advance and reimbursement cheque butts. The petty cash book is prepared from: advance (and/or reimbursement) cheque butt/s completed and authorised petty cash vouchers. The totals can be checked by cross-adding related column totals.The total of the vouchers (Cash Payments column total) added to the balance left in the petty cash fund (Balance column) should always equal the imprest amount. TRIAL BALANCE A sheet displaying all the accounts of a business, drawn up as a trial (test) of whether the total of all the debit balances equal the total of all the credit balances (A balance is the amount of an item at a point in time. For example, The balance in the bank account on the 1st of January was $5,000.). The trial balance is prepared as a final check just before the financial statements are drawn up. The trial balance is our penultimate step in the accounting cycle. Example for Trial Balance: FINAL ACCOUNT Final accounts are all of the financial statement for a business or company at the end of the fiscal or calendar year, on whichever the business calendar the company operates. The statements for the final accounts show the gross profit and net income of the company. A number of accounts are included, such as the profit and loss statement for the business, the balance sheet, and the trading account. The profit and loss statement tracks all of the income that comes into the company, as well as the expenses that the company pays out. The profit and loss statement covers a specific period — typically the fiscal year, but it can also cover the calendar year. It shows how revenue becomes net income, and whether or not the company made money for the year. While the company tracks these figures throughout the year, the final accounts include the statement for the cumulative fiscal or calendar year. The balance sheet is another one of the business financial statements that are prepared as part of the final accounts process when the year closes out. The balance sheet provides a quick look at how the company is doing at that specific moment in time, at the end of the year. In addition to assets and liabilities, a balance sheet also includes information on shareholder equity. Trading accounts cover profits and losses incurred from trading securities. Many companies invest in stocks, bonds, mutual funds and other types of investment funds. The final accounts for the trading account show the amount of gain or loss from these investments at the end of the year that the company runs on. Final accounts and the statements that make up these accounts typically help companies to prepare their various tax returns. If the company accountant prepares the tax statements, then the accountant prepares these statements for his or her own use. If the company hires an outside accountant or accounting firm, then the statements for the final accounts are handed over to the third party, so they have the information they need to prepare the companys tax returns and any of tax paperwork that is required. (Kristie,L and Wilborn,C.2013,Wise Geek)[online] INCOME STATEMENT A financial statement that measures a companys financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period, typically over a fiscal quarter or year. Also known as the profit and loss statement or statement of revenue and expense. Example for Income Statements: STATEMENT OF FINANCIAL POSITION A statement of financial position, also known as a balance sheet, is a financial document that provides an overview of an entitys finances at a given point in time. These statements are commonly used by companies large and small, but they can also be applied to personal finances, for people who want to generate a document that they can use to review their financial situation for the purpose of making budgeting decisions or financial plans. Many accounting software programs have mechanisms to automatically create one. There are two main areas on a statement of financial position. One covers the assets, everything owned by the person or company, including real estate, cash in hand, contents of bank accounts, and so forth. The other side includes the liabilities, funds owed. A statement usually breaks these sections up into several categories for ease of reference, so that people can quickly look up a topic of particular interest, such as accounts payable or overdue loans. The liabilities also include the ownership equity or the shareholder equity in the business. The assets should equal the liabilities once the ownership or shareholder equity has been factored in, and if they do not, it is a sign that the financial statement is out of balance. This is in accordance with the accounting equation, which states that assets = liabilities + ownership or shareholder equity. Incidentally, this explains the term balance sheet, which reflects the idea that the two sections of the sheet should be equal or balanced. Commonly, a statement of financial position will be generated at the end of every month. Looking up past months can provide information about how a companys finances are progressing, and these documents can also be compared with statements from the same month in prior years. Using this document, decisions can be made about the next steps to take. If, for example, a company has a lot of assets, it may be a sign that it can comfortably expand because it has the available capital to do so. Companies that are publicly traded must provide public disclosures about their financial health, including statements of financial position. These are provided to shareholders by request and are also commonly published to make them readily accessible to prospective investors. If a company has a website, they might be found on a section of the website that includes documents that the company is required to disclose by law. (Smitch,S. and Wallace,O.2013,Wise Geek)[online] Example for Statement of Financial Position: CONCLUSION Book keeping is important to proper accounting records because proper methods can help businesses effectively manage cash flow, stay abreast of profit and losses, and develop plans for the future based on financial trends. Furthermore to complete the financial account, accounting cycle are used. The accounting cycle included source of document, books of prime entry, ledgers, trial balance and the final accounts. REFERENCE 1. Anon.2013,Book of Prime Entry and Ledgers.[online].Available from World Wide Web: http://principlesofaccounting2.com/topics/books-of-prime-entry-and-ledgers/ [Accessed 05/07/2013] 2. Anon.2013,The Accounting Cycle.[online].Available from World Wide Web: http://www.accounting-basics-for-students.com/accounting-cycle.html [Accessed 05/07/2013] 3. Anon.2013,Income Statement.[online].Available from World Wide Web: http://www.investopedia.com/terms/i/incomestatement.asp [Accessed 05/07/2013] 4. Beanne,O.2013,The Complete Accounting Cycle.[online].Available from World Wide Web: http://youraccountingcoach.blogspot.com/2013/01/the-complete-accounting-cycle.html. [Accessed 25/01/2013]