In, yea. Then out, yea. In and out, its like that: Accounting, or accountancy, is the measurement, processing and communication of financial information about economic entities. Accounting, which has been called the language of business, measures the results of an organizations economic activities and conveys this information to a variety of users including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms accounting and financial reporting are often used as synonyms. In! Accounting can be divided into several fields including financial accounting, management accounting, auditing, and tax accounting.[5][6] Financial accounting focuses on the reporting of an organizations financial information, including the preparation of financial statements, to external users of the information, such as investors, regulators and suppliers; and management accounting focuses on the measurement, analysis and reporting of information for internal use by management. The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is the most common system. Accounting is facilitated by accounting organizations such as standard-setters, accounting firms and professional bodies. Financial statements are usually audited by accounting firms,[9] and are prepared in accordance with generally accepted accounting principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial Accounting Standards Board (FASB) in the United States[1] and the Financial Reporting Council in the United Kingdom. As of 2012, all major economies have plans to converge towards or adopt the International Financial Reporting Standards (IFRS). https://youtube/watch?v=BBWOdASBjm0 Hard Core Contract Breaches All forms of wage or salary price-fixing are per se violations …. Price is too critical, too sensitive a control to allow it to be used even in an informal manner to restrain competition. “All persons are capable of contracting, except … persons deprived of civil contract rights.” A) The contract-time ownership: “No state agent shall … make any … Law impairing the Obligation of Contracts ….” “It is essential to the existence of a labor contract that there be: 1) A lawful object; and 2) A sufficient … consideration.” A key case on “sufficient consideration” for labor time contracts explains the rule. At work, “Each … customer is served by a customer service team, rather than by an individual employee.” “To calculate the weekly … distribution, the selected counting employee must: (1) determine the total monetary amount from the … container; (2) calculate the total number of hours worked by all … in the particular store; (3) divide the total amount of hours by the stores total earned … for the week to obtain the business tip-revenue hourly rate; (4) multiply each of the … hours by the tip hourly rate to determine each employees tip income; and (5) place each employees … income in a sealed envelope, label the envelope with the employees name, and store the envelope in the safe until the employee is available to take possession of it.” 2) The Owner-Bosses’ Breach: Material Breach: A breach of contract that is significant enough to permit the aggrieved party to elect to treat the breach as total (rather than partial), thus excusing that party from further performance [to pay] and affording it the right to sue for damages. 3) The remedy: “No Person shall be convicted of [Job-Contract] Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court. Simple Legal Pointers
Posted on: Thu, 08 Jan 2015 03:07:48 +0000
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