Accounting provides quantitative financial information involving economic decisions in order to make reasoned choices. It serves that functions of recording, summarizing, and interpreting financial information. It aims to direct and control the limited resources of the business, both human and non-human. The users and beneficiaries of the financial information include business owners, managers, government, potential investors, creditors, consumers, general public, economic planners, and labor unions. They benefit from the varied fields of accounting like auditing, accounting systems, budgeting, tax, management consulting, cost, financial, government and education. The accounting profession in its practice is guided by the accounting principles (GAAP) which are established by the Accounting Standard Council, under the umbrella of the Philippines Institute of Certified Public Accountants, the national organization of CPAs in the Philippines. Among others, these principles include entity, objectivity, cost, going concern, materiality, and matching principles. Accounting is a service activity. Through the accounting records and the financial reports derived therefrom, efficient acquisition and use of the limited resources as planned are achieved. The individuals and group to achieve the goals set and appraisals of their performance are facilitated by comparing the goals set and the result of business operations as reflected the financial data.
Archive for March, 2010
Nacrcotics
Author: adminMar 5
Narcotics is the general term for substance that produce lethargy, stupor, induce sleep and relieve pain by depressing the central nervous system. They cause a condition of abnormal drowsiness and a great lack of energy. Narcotics are legally used in medicine. In this state, the mind and sense are so dull that one can’t barely think, act and feel. Dangerous substances such as opium, morphine and heroin were then basic ingredients in patient medicines that could be purchased by everyone for any reason without prescription since they are effective cure of headaches, toothaches, depression, nervousness, menstrual cramps. In fact can practically cure every human ailment. As a result of the ready availability of these drugs and their heavy use for medical problems, may individual became addicted to the narcotics contained in these patient medicines. So there were more narcotics addicts. They were not abusers or taking narcotics for “recreational” purposes. Legally, narcotics include opium and its derivatives (morphine, codeine and heroin) and the synthetic opiates, such as meperidine and methadone. The use of narcotics dropped as doctors did not prescribe narcotics, and drug stores were not also selling over the counter. It used to combat narcotic addition of heroin.