Financial statements Essay Example | Topics and Well Written Essays - 500 words

Financial statements - Essay Example report that measures the success of the company operations for a particular period of time and this is used by business and investment people to determine the profitability, investment value and creditworthiness etc (Keiso and Weygandt, 2007, p. 126). Income Statement summarizes revenues, gains, expenses and losses. Sales, fees, dividends and interest are parts of revenues, while expenses take forms of cost of goods sold, depreciation, interest, wages and salary etc. Gains and losses are different types like sale of plant assets or investments, settlement of liabilities etc. Expenses are debited and revenue are credited, and the total of these can be a net debit (loss) or net credit (profit). Income statement evaluates the past performance of the company and provides a basis for future prediction and assessing risk or uncertainty. The Balance Sheet presents the financial position of the business through the main elements that are called assets, liabilities and stockholders’ equity (Davies and Pain, 2002, p. 49). Assets include those that can provide future economic benefits as a result of past transaction (plant, machinery, vehicles and all) and liabilities include those that are probable future sacrifices of economic benefits arising from present obligations- loan, overdraft etc- (Keiso and Weygandt, 2007, p. 173). Assets are regarded to be debit balances and liabilities and stockholder’s equity are credit balances. Balance sheet is always in a balance and hence it can be summarized as: Neither balance sheet nor income statement show or directly analyze some of the key changes taken place in the financial position. They don’t show cash inflows and cash outflows that are in turn, highly important to know and assess the timing and uncertainty of cash flows. Cash-flow statement, instead, provides cash inflows and outflows and it calculates the net changes in the cash position of the business. It comprises of 1) operation activities which are cash effects of

Gay; To Be or Not To Be Essay Example | Topics and Well Written Essays - 1000 words

Gay; To Be or Not To Be - Essay Example ut existence throughout my life – I knew that I wanted to keep on existing, and suicide was not something that crossed my mind overly much (no more than any other person who has lived through teenage years, probably). For me the question centered on my sexuality. Who am I? I asked myself, and what am I doing? Am I gay? These are questions that troubled me for much of my growth, and I spent a great portion of my development denying who I was. To be gay, or not to be gay, I asked myself, without even realizing that the question in being asked was probably answered. It is not like I was a child of the fifties or sixties, growing up in a time when being gay was the greatest sin one could ever imagine. By the time I had graduated high school it was the late eighties, and gay rights activists were already marching down streets in San Francisco and New York, academics were discussing a new Queer politic that was emerging, and gay people everywhere were being told â€Å"come out, you have nothing to fear.† But the problem is that this conception of being gay and coming out, that you know it internally but choose to hide it from society, is not something that actually happens very often. Before even having the option of â€Å"coming out† to friends and relatives, you have to have a great internal dialogue with yourself, and find out who you are. Doing this alone in your teens is not an easy thing, not by a long shot. I remember the first time I had an inkling that I might not be like everyone else (or at least, how I thought everyone else was – looking back now I’m sure I knew many closeted gay people growing up.) I was just entering the ninth grade, a time when many people are first learning about their sexuality, and I looked across my homeroom classroom at a close friend who was sitting their, wearing spaghetti straps (I had a somewhat lenient school) and cleavage somewhat exposed. Now this was someone who I had known for almost my entire life, and a