Thursday, 2 February 2012

BEST FRIEND

HANIS IZZATI..inilah kawan baik aku semasa belajar di matrik. selama lebih kurang 1 tahun kami berkawan di matrik, banyak suka duka yang kami lalui bersama. thanks hanis sebab baik sangat dengan aku..=)

HANIS IZZATI..sekarang kau sudah ada kehidupan baru. walaupun kau sering mengadu berbagai masalah berkaitan tempat belajar kau, kawan-kawan baru kau.. aku yakin sebenarnya kau mampu hadapi semua itu.

doa aku, semoga kau sentiasa kuat menghadapi cabaran dalam hidup. semoga kau berjaya dalam hidup kau. semoga kau gembira menjalani kehidupan sehari-harian kau.

aku nak kau tahu, aku sayangkan kau..semoga kita akan berjumpa lagi di masa akan datang..jaga diri baik-baik ya..

Thursday, 19 January 2012

ASSALAMUALAIKUM w.b.t.

lame rasenye x update kat blog ni. ni sje je nak bersih kan sawang2, sarang labah2.. hurm..sbnarnye tjuan mule aku create blog ni sbb untuk assignment U. tp xkan nk biarkan je kan.. kne la update untuk yg kite punyer personal jugak.

skang ni aku da mule cuti semester. dlm 1 bulan lbih jugak la. ape aktiviti aku kat umah ni?? hmmm mcm biase la..tlg parents kat umah, tlg bniage .. tlg adik aku wat homework die..hahaha.. baru 2hari lbih la aku kat umah ni.. YA ALLAH..jgn lah kau timbulkan perasaan bosan dlm diriku ini..=) so, dlm mase cuti ni aku harap dpt lah aku update ape2 kat blog aku ni.. x de keje len la kate kan..huhu

Sunday, 13 November 2011

Universiti Teknologi Mara

Faculty of Business Management

Bachelor in Business Administration (Hons) Finance

MGT 417 : Information Technology in Business

Individual Assignment

Prepared by:

Nor Farhana binti Mohd Robani

2011838892

M1 BM222 1B

Prepared for:

En. Mohd Harun

Submission date:

14 November 2011

article: FINANCIAL ACCOUNTING

Introduction

The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities. Managerial accounting contrasts with financial accounting in that managerial accounting is for internal decision making and does not have to follow any rules issued by standard-setting bodies. Financial accounting, on the other hand, is performed according to Generally Accepted Accounting Principles (GAAP) guidelines.

CPA's

The primary accounting professional association in the U.S. is the American Institute of Certified Public Accountants (AICPA). The AICPA prepares the Uniform CPA Examination, which must be completed in order to become a certified public accountant. To be eligible to become a CPA, one needs an undergraduate degree in any major with 150 credit hours of course work. Of these 150 credit hours, a minimum of 36 credit hours must be in accounting. Only about 10% of those taking the CPA exam pass it the first time.

Accounting Standards

In order that financial statements report financial performance fairly and consistently, they are prepared according to widely accepted accounting standards. These standards are referred to as Generally Accepted Accounting Principles, or simply GAAP. Generally Accepted Accounting Principles are those that have "substantial authoritative support".

Accrual vs. Cash Method

Many small businesses utilize an accounting system that recognizes revenue and expenses on a cash basis, meaning that neither revenue nor expenses are recognized until the cash associated with them actually is received. Most larger businesses, however, use the accrual method.

Under the accrual method, revenues and expenses are recorded according to when they are earned and incurred, not necessarily when the cash is received or paid. For example, under the accrual method revenue is recognized when customers are invoiced, regardless of when payment is received. Similarly, an expense is recognized when the bill is received, not when payment is made.

Under accrual accounting, even though employees may be paid in the next accounting period for work performed near the end of the present accounting period, the expense still is recorded in the current period since the current period is when the expense was incurred.

Underlying Assumptions, Principles, and Conventions

Financial accounting relies on the following underlying concepts:

Assumptions: Separate entity assumption, going-concern assumption, stable monetary unit assumption, fixed time period assumption.
Principles: Historical cost principle, matching principle, revenue recognition principle, full disclosure principle.
Modifying conventions: Materiality, cost-benefit, conservatism convention, industry practices convention.

Financial Statements

Businesses have two primary objectives:

Earn a profit
Remain solvent

Solvency represents the ability of the business to pay its bills and service its debt.

The four financial statements are reports that allow interested parties to evaluate the profitability and solvency of a business. These reports include the following financial statements:

Balance Sheet
Income Statement
Statement of Owner's Equity
Statement of Cash Flows

These four financial statements are the final product of the accountant's analysis of the transactions of a business. A large amount of effort goes into the preparation of the financial statements. The process begins with bookkeeping, which is just one step in the accounting process. Bookkeeping is the actual recording of the company's transactions, without any analysis of the information. Accountants evaluate and analyze the information, making sense out of the numbers.

For the reports to be useful, they must be:

Understandable
Timely
Relevant
Fair and Objective (free from bias)

Double Entry Accounting

Financial accounting is based on double-entry bookkeeping procedures in which each transaction is recorded in opposite columns of the accounts affected by the exchange. Double entry accounting is a significant improvement over simple and more error-prone single-entry bookkeeping systems.

Fundamental Accounting Model

The balance sheet is based on the following fundamental accounting equation :

Assets = Liabilities + Equity

This model has been used since the 18th century. It essentially states that a business owes all of its assets to either creditors or owners, where the assets of a business are its resources, and the creditors and owners are the sources of those resources.

Transactions

To record transactions, one must:

Identify an event that affects the entity financially.
Measure the event in monetary terms.
Determine which accounts the transaction affects.
Determine whether the transaction increases or decreases the balances in those accounts.
Record the transaction in the ledgers.

Most larger business accounting systems utilize the double entry method. Under double entry, instead of recording a transaction in only a single account, the transaction is recorded in two accounts.

The Accounting Process

Once a business transaction occurs, a sequence of activities begins to identify and analyze the transaction, make the journal entries, etc. Because this process repeats over transactions and accounting periods, it is referred to as the accounting cycle.

http://www.quickmba.com/accounting/fin/

article: MANAGING A BUSINESS

After you have successfully launched your small business, you have the ongoing challenge of managing it – of nurturing it and growing its profitability, while at the same time adhering to laws and regulations that govern your industry. As its leader, you must make decisions that affect your business every day, some critical and some not so important. This section provides a variety of resources that will help you run your business smoothly or exit your venture, if you choose to take a different direction.

· Leading Your Company

Do you have what it takes to lead your company to success? Effective leaders share some pretty important personal characteristics. The topics in this section will help you determine if your personality type is likely to be a good fit for a ...

· Growing Your Business

There’s more to growing a business than just watching customers come in your door. You must always plan ahead, and ensure that you’re poised for the new challenges that a growing business will face in a changing world.

· Exporting & Importing

Take Your Business Global: Where will your next customer come from? Small businesses looking to increase sales and profit are taking their businesses global. Nearly 96 percent of consumers and over two-thirds of the ...

· Running a Business

Will your small business run like clockwork every day? Probably not! You need to be prepared for all sorts of situations, even disasters that can’t be prevented. This section contains information you’ll need to run your business ...

· Business Law & Regulations

Do you have to be an attorney to open and run a small business these days? The answer is no (although you shouldn’t hesitate to consult one if you have a sticky legal question). This section helps you with the day-to-day legal issues ...

· Getting Out

You may wish to leave your business for a variety of reasons. For example, you may be ready to retire – if so, congratulations! – and you may wish to hand your business to a relative. Or perhaps your business did not live up to ...

· Business Guides by Industry

Each guide in this section details information specific to an industry. You’re likely to find one that provides invaluable information targeted to your line of business.

· Local Resources

Looking for small business counseling and training close to home? SBA can help! SBA provides small business counseling and training through a variety of programs and resource partners across the country. Check out the resources below to ...

· Forms

The process of starting and managing a business requires a lot of analysis and paperwork. SBA has just about every resource you’ll need, from business plan examples and financial forms, to tools that can help you determine the best.

http://www.sba.gov/category/navigation-structure/starting-managing-business/managing-business

promote product : ESCADA

Escada perfumes and colognes

Country: Germany
Main activity: Fashion
Brand website: link
Parent company: Procter & Gamble

Escada is an international luxury fashion group founded in Germany by Margaretha and Wolfgang Ley. The name Escada means "staircase" in Portuguese.

Starting in Munich in 1978, the company made a name for itself with distinctive colorful and patterned fashions. Escada Beauté was founded in 1990 and saw the release of its first fragrance, Escada Margaretha Ley, named for one of the company's founders. The fragrance division launched a series of successful fragrances for men and women throughout the 1990s and continuing in the 21st century.

Escada fragrances, like the company's fashions, are notable for their bright packaging and unusual bottle shapes. The company's emphasis on youthful fruity-floral scents is credited by many with helping to establish fruity-floral as a new fragrance category. Escada produces fragrances today in conjunction with Procter and Gamble.

Designer Escada has 47 perfumes in our fragrance base. The earliest edition was created in 1990 and the newest is from 2011. Escada fragrances were made in collaboration with perfumers Creations Aromatiques, Pierre Bourdon, Ilias Ermenidis, Dominique Ropion, Francoise Caron, Annick Menardo, Steve Demercado, Michel Almairac, Nathalie Gracia-Cetto, Laurent Bruyere, Richard Ibanez, Philippe Romano, Sophie Labbe, Francis Kurkdjian, Dorothee Piot, Jean-Louis Grauby and Bertrand Duchaufour.