Businesses operate to achieve various goals. To meet these goals a business must achieve two primary objectives: To earn a satisfactory profit and to remain solvent (be able to pay its debts). If a business fails to meet either of these primary objectives, it will not be able to survive in the long run.
Financial statements are accounting reports used to summarize and communicate financial information about a business. Three major financial statements - the income statement, the statement of changes in financial position, and the balance sheet - are used to report information about the business's primary objectives. These financial statements are the end result of the accounting process. Each of them summarizes certain information that has been identified, measured, recorded, and retained during the accounting process.
Income Statement: An income statement is a financial statement summarizing the results of a business's earnings activities for a specific period of time. It shows the revenues, expenses, and net income (or net loss) of the business for this period. Revenues are the prices charged to the business's customers for goods and services provided. Expenses are the costs of providing the goods or services. The net income is the excess of revenues over expenses; a net loss arises when expenses are greater than revenues.
Statement of Changes in Financial Position: A statement of changes in financial position is a financial statement summarizing the results of a business's financing and investing activities for a specific time period. The results of the business's financing activities are shown in a "Sources" section of the statement; this section includes sources from operations and other sources.
Balance Sheet: A balance sheet summarizes a business's financial position on a given date. It is alternatively called a statement of financial position. A balance sheet lists the business's assets, liabilities, and owner's equity.
Assets: Assets are the economic resources of a business that are expected to provide future benefits to the business. A business may own many assets, some of which are physical in nature, such as land, buildings, supplies to be used in the business, and goods (inventory) that the business expects to sell to its customers. Other assets do not possess physical characteristics, but are economic resources because of the legal rights they convey to the business. These assets include amounts owed by customers to the business (accounts receivable), the right to insurance protection (prepaid insurance), and investments made in other businesses.
Liabilities: Liabilities are the economic obligations (debts) of a business. The external parties to whom the economic obligations are owed are referred to as the creditors of the business. Usually, although not exclusively, legal documents serve as evidence of liabilities. These documents establish a claim (equity) by the creditors (the creditors' equity) against the assets of the business. Liabilities include such items as amounts owed to suppliers (accounts payable), amounts owed to employees for wages (wages payable), taxes payable, and mortgages owed on the business's property. A business 'may also borrow money from a bank on a short or long-term basis by signing a legal document called a note, which specifies the terms of the loan. Amounts of such loans would be listed as notes payable.
Owner's Equity: The owner's equity of a business is the owner's current investment in the assets of the business. For a partnership, the owner's equity might be referred to as the partners' equity; for a corporation, stockholders' equity. The owner's equity is affected by the capital invested in the business by the owner, by the business's earnings from its operations, and by withdrawals of capital by the owner of the business.
Friday, January 27, 2012
Thursday, January 12, 2012
Will Alternative Magnetic Therapy Work For You?
Alternative magnetic therapy has become popular in recent years because
people are seeking non-intrusive and safer forms of treatment for pain
and illnesses. Among new ideas that are being studied for effectiveness
is the use of magnets for relief from the pain of various forms of
arthritis and other painful illnesses. Although study results about
their effectiveness are varied, some people believe strongly in the use
of magnetic therapy. This option should be explored and considered if
you too suffer from arthritis.
It is believed that magnets, when held against the skin, relax blood vessels, allowing more blood to flow to painful areas and, in consequence, stop the pain faster and more thoroughly. It is also said that the magnetic field prevents muscle spasms and interferes with the nerves reaction to pain. Skeptics do not believe that muscles prevent or cure pain, but that the effect is simply that of a placebo-you think that you are being cured so you mentally believe that it is true. Mind over matter is the phrase associated by skeptics speaking about many alternative medical treatments.
Alternative magnetic therapy may work for you, but there is no telling until you try. You can purchase magnets in a variety of shapes and sizes, but most therapists and companies that promote their use suggest magnetic jewelry, belts, and straps that can be worn on the body at the inflicted area. Prices range from at little as five dollars to as expensive as several thousand, depending on size and number of magnets and quality of workmanship on the product. Choose a magnet that is fairly strong. Magnetism is measured in gausses, with a typical refrigerator magnet being at about 100 gauss, and this strength is too weak to penetrate the skin. 450 gauss is the lowest strength that should be used for medicinal purposes, and magnets advance in strength as they get pricier. Stronger magnets, however, will work better, so you get what you pay for in most cases.
Magnets used for health can either be placed directly over the point of the pain or over the acupuncture point associated with the pain. A professional can help you determine placement. Arthritis is the most common affliction healed with magnetics, but they can also be used for back pain, headache, tennis elbow, and foot pain, as well as a number of other aches and pains. Your doctor can give you more information on their use if you decide alternative magnetic therapy is right for you.
It is believed that magnets, when held against the skin, relax blood vessels, allowing more blood to flow to painful areas and, in consequence, stop the pain faster and more thoroughly. It is also said that the magnetic field prevents muscle spasms and interferes with the nerves reaction to pain. Skeptics do not believe that muscles prevent or cure pain, but that the effect is simply that of a placebo-you think that you are being cured so you mentally believe that it is true. Mind over matter is the phrase associated by skeptics speaking about many alternative medical treatments.
Alternative magnetic therapy may work for you, but there is no telling until you try. You can purchase magnets in a variety of shapes and sizes, but most therapists and companies that promote their use suggest magnetic jewelry, belts, and straps that can be worn on the body at the inflicted area. Prices range from at little as five dollars to as expensive as several thousand, depending on size and number of magnets and quality of workmanship on the product. Choose a magnet that is fairly strong. Magnetism is measured in gausses, with a typical refrigerator magnet being at about 100 gauss, and this strength is too weak to penetrate the skin. 450 gauss is the lowest strength that should be used for medicinal purposes, and magnets advance in strength as they get pricier. Stronger magnets, however, will work better, so you get what you pay for in most cases.
Magnets used for health can either be placed directly over the point of the pain or over the acupuncture point associated with the pain. A professional can help you determine placement. Arthritis is the most common affliction healed with magnetics, but they can also be used for back pain, headache, tennis elbow, and foot pain, as well as a number of other aches and pains. Your doctor can give you more information on their use if you decide alternative magnetic therapy is right for you.
Using Herbs For Health
Many people do not only use herbs in their cooking for added flavor, but
did you know that many people use herbs for health or in a medicinal
way? Herbs have long been used as an alternative from of treatment.
Patients taking various medications can benefit by using herbs that can
achieve the same effects. If you are looking for a different kind of way
to treat some of your medical conditions, ask your doctor for more
information about how herbal supplements can work for you.
Pharmaceutical drugs can have a harsh effect on the body. Herbal supplements, on the other hand, provide gentle care and side effects are less common. You can also get most herbal supplements without a prescription, making it easier and more cost effective for those who do not have health insurance. Many herbal remedies are made by a number of companies and not all products are of the same quality. Your doctor should be able to provide you with a list of the best herbs for health as well as the ones to avoid. Check the labels to be sure that there are not chemical additives or diluting agents in your herbal supplements so that you are getting what you pay for.
The Chinese have especially worked at developing herbal medications for use in the place of more traditional medications for a pharmacy. Herbal teas, powders, and pills are commonly used in conjunction with other traditional Chinese Medicine, or TCM, such as acupuncture. A variety of herbs for health are used here, and you may drink tea or take a supplemental pill before, during, or after your procedure to best benefit your body. You can also purchase specialized herbal mixtures from many TCM professionals, which are mixed directly in the practitioner's office. Be sure you only purchase herbs from licensed professionals.
Herbs can be as dangerous as prescription medications if you use them incorrectly. It is most important to follow your doctor's instructions, as overdosing can cause adverse side effects. Also be sure to tell your doctor about any other medications or herbal supplements you are currently taking, since herbs can react with one another in various ways. It is best to always be safe and talk to a professional about herbal care rather than purchasing the supplements on your own. A doctor can do a better job at regulating your doses and combining the many herbs available in the most productive way for your body. Using herbs for health is a great way to feel healthier and relieve pain, but only if used in the correct way.
Pharmaceutical drugs can have a harsh effect on the body. Herbal supplements, on the other hand, provide gentle care and side effects are less common. You can also get most herbal supplements without a prescription, making it easier and more cost effective for those who do not have health insurance. Many herbal remedies are made by a number of companies and not all products are of the same quality. Your doctor should be able to provide you with a list of the best herbs for health as well as the ones to avoid. Check the labels to be sure that there are not chemical additives or diluting agents in your herbal supplements so that you are getting what you pay for.
The Chinese have especially worked at developing herbal medications for use in the place of more traditional medications for a pharmacy. Herbal teas, powders, and pills are commonly used in conjunction with other traditional Chinese Medicine, or TCM, such as acupuncture. A variety of herbs for health are used here, and you may drink tea or take a supplemental pill before, during, or after your procedure to best benefit your body. You can also purchase specialized herbal mixtures from many TCM professionals, which are mixed directly in the practitioner's office. Be sure you only purchase herbs from licensed professionals.
Herbs can be as dangerous as prescription medications if you use them incorrectly. It is most important to follow your doctor's instructions, as overdosing can cause adverse side effects. Also be sure to tell your doctor about any other medications or herbal supplements you are currently taking, since herbs can react with one another in various ways. It is best to always be safe and talk to a professional about herbal care rather than purchasing the supplements on your own. A doctor can do a better job at regulating your doses and combining the many herbs available in the most productive way for your body. Using herbs for health is a great way to feel healthier and relieve pain, but only if used in the correct way.
Subscribe to:
Posts (Atom)