The Double Entry System Essay Example for Free

The Double Entry System Essay According to the double entry accounting system, a business transaction affects at least two accounts and the debit and credit amounts recorded for the affected accounts must be balanced. These transactions will be recorded in the appropriate books of accounts. Business entities develop a chart of accounts, a list of account titles with their corresponding account codes that the business will use in recording and posting in the books of accounts and in reporting in the financial statements. Double Entry System was invented for the first time by Lucas Pacioli’ of Italy in the year 1494 in Venice but it was developed in England. This system is based on the truth that every business transaction involves two .parties— (1) Receiver and (2) Giver. There can not be any business transaction by only one party. If one part is giver of any thing, there must be one more party-receiver. If one part is seller; there must be the other party purchases. Receiver of the transaction is debtor and the giver is the creditor. Thus the transactions take place between two parties, according to Double Entry System every transaction is recorded twice. One party is the debtor and the other party is giver. Receiver is the debtor and giver is the creditor. Accuracy of accounts. The greatest advantage of Double Entry System is that arithmetical accuracy of accounts can be checked easily. Since every transaction is recorded twice, a Trial Balance can be prepared and it can be known whether each transaction has been correctly recorded twice or not. By applying. Double Entry Principle every transaction is recorded twice. Trial Balance can easily be prepared and with the help of Trial Balance Trading and Profit and Loss can be easily prepared to ascertain the gross profit or gross loss or net profit or net loss of the business. Knowledge of Financial Position. Financial position of the business can be known easily. By preparing Balance Sheet one can know what assets are possessed by the business and what liabilities are due by the business. Chances of fraud meager. By applying Double Entry Principles chances of committing fraud is very much minimized. If fraud is committed, it can be easilychecked by verification and auditing of accounts. †¢Comparison of Expenses— Comparison of expenses of the current year with the previous can easily be made. The system of double-entry bookkeeping does have the capa ¬bility of making a positive contribution towards economic growth. Although the ability of double-entry to reveal the success or failure of a business enterprise for a specific period of lime was not valued by the early merchants, double-entrys capacity to accumulate data on individual performing activities, combined with its ability to bring order to the affairs and accounts of these merchants, rationalized the economic activities of the early English merchants

Interpretation of Dreams: Freud Vs. Jung Essay -- Philosophy Psycholog

Interpretation of Dreams: Freud Vs. Jung Works Cited Not Included Many philosophers, psychiatrists, and doctors have tried to explain the role of the unconscious, mostly through interpreting dreams; two who lead the way in the field of dream interpretation were Sigmund Freud and his most famous pupil, Carl Jung. By reviewing these men's views we can come to a better understanding of the role of the unconscious. Both Freud and Jung believe in the existence of a conscious and unconscious mind. To better understand the difference between the two psychologists often use the analogy of an iceberg. The part of the iceberg above the surface of the water and can be seen by anyone is the conscious mind. It is the part of the mind we "live in" and contains information that we are aware of. The majority of the iceberg, which is below the surface of the water, is what Freud referred to as the "unconscious" and that Jung referred to as the "personal unconscious." This is where thoughts, feelings, urges, and temptations are that are difficult to bring out in consciousness. These are things that we do not associate with who we are and thus become repressed. The best ways to find these repressed feelings are through dreams. Sigmund Freud believed that a persons dreams fulfilled wishes and gave that person a sense of accomplishment to something they may not have been able to achieve. To prove Freud's theory he referred to a dream that he could produce as often as he wanted to. He explained that if he ate anything salty before he went to bed he would develop a thirst during the night which would wake him up. However, before he woke up he noted the he always had a specific dream first. This dream was that he was drinking cold water ... ... or model of which all things of the same type are representations or copies. This tendency for everyone in an area to perceive and act in certain ways is where Jung theory of collective unconscious comes from. Jung explains that what we dream, we have understanding of, be it intellectually or emotionally, which contradicts Freud's theory of unconsciously fulfilling wishes completely. Both Freud and Jung have there own views on dream interpretation, combine the two and it seems that we can come to a better understanding of the importance of our dreams. It seems that you cannot interpret a dream solely using Freud's theory or visa a versa with Jung's theories. Combining the two would offer a non-bias, well rounded interpretation which could encompass both, wish fulfillment, as Freud proposed, and consciously intending to create your dreams, as Jung believed.

Immigration Outline Essay

About 40% of illegal immigrants enter legally and then overstay d. Crime rate viii. .2011 saw 396,906 deportations ix. 216,698 had been convicted of crimes x. 44,653 convicted of â€Å"drug-related crimes† xi. 35,927 convicted of  driving under the influence xii. 5,848 convicted of  sexual offenses xiii. 1,119 convicted of  homicide III. Impacts: d. Economic xiv. They pay $7 billion in social security e. Law inforcement and expenses xv. costs $90 a day to keep them in detention facilities xvi. Identity theft  is sometimes committed by illegal immigrants who use  social security numbers  belonging to others xvii. f. Enviorment xviii. 45 abandoned cars on the Buenos Aires refuge near  Sasabe, Arizona  and enough trash that a volunteer couple filled 723 large bags with 18,000 pounds of garbage over two months in 2002. â€Å"[132] xix. Illegal immigrants trying to get to the United States via the Mexican border with southern Arizona are suspected of having caused eight major  wildfires  in 2002. The fires destroyed 68,413 acres (276. 86  km2) and cost taxpayers $5. 1 million to fight g. National security xx. out of the 48  al-Qaeda  operatives who committed crimes here between 1993 and 2001, 12 of them were illegal aliens when they committed their crimes, xxi. seven of them were visa overstayers, xxii. four of the 9/11 terrorists. Were illegal immigrants xxiii. llegal immigrants within the United States have attempted to carry out other terrorist attacks as well. IV. Democratic view on Illegal immigration: h.

EGT1 Task 3 - 1850 Words

WGU EGT1 Task 3 Student# In this essay I will discuss a few terms and how their relationships apply between regulation and market structures, as well as how regulation policies affect the market. A) There were 4 particular Antitrust Laws that were enacted with the primary purpose of protecting consumers, striving to achieve fair competition in the market place, and to achieve and allocate efficiency. The 4 Antitrust Laws that are major pieces of legislation are; The Sherman Act of 1890 The Clayton Act of 1914 The Federal Trade Commission Act of 1914 (which also includes an Amendment known as the Wheeler-Lea Act of 1938) The Celler-Kefauver Act of 1950 (which is an Amendment to the Clayton Act of 1914) The†¦show more content†¦The Celler-Kefauver Act of 1950 was an amendment to the Clayton Act of 1914 that particularly had to do with section 7 prohibiting competitive firms from merging and or from similar acts by one corporation from buying another corporations stock or physical assets (trying to act like a monopoly) which both lessen competition. The main purpose of this act was to prevent anti-competitive mergers and to close any loopholes. B) The intended purpose of Industrial or Economic regulation as applied to Oligopolies and Monopolistic market structures is used to reduce the market power of both! A government commission regulates the prices charged by â€Å"natural monopolists.† Industrial Regulation is necessary to prevent natural monopolies from charging monopoly rates which may harm consumers/ society. Industrial Regulation tries to establish pricing that will cover production costs and provide a fair amount of return to businesses. Price=Average Total Cost, where normal profit is accomplished. (governs pricing, output, profits in specific industries). 1) An Oligopolistic market structure is a structure where very few large businesses sell a particular standard Good or differentiated Good, and to whose market entry proves difficult. This in turn, gives little control over product pricing because of mutual interdependence (with the exception of collusion among businesses) creating a non-price competition meaning they are the ‘price setters’. A good rule to help classify anShow MoreRelatedEgt1 Task 3751 Words   |  4 PagesEGT-1 Task 3 Revised A. 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Companies are flocking to India because of many factors, including, less expensive labor costs, increasing growth rate, and an abundance of a highly skilled workforce. These factors in addition to other advantages have substantially increased the number of United States businesses lookingRead MoreGreen Human Resource Practices : Barriers to implement Green HR Practices6100 Words   |  25 PagesLecturer GIFT University Gujranwala (Research Paper) Acknowledgement We start this research project with the Holy name of ALLAH ALMIGHTY, who bestowed us the ability potential to accomplish this task also gave us the command on this subject, which is impossible without ALLAH’s blessings. Than we thank our parents who always gave us support our respectable teachers specially our most respectable worthy teachers Mr. ABID AWAN and Mr. HASSAN