Users and Uses of Financial Information

In every financial accounting textbook, the authors explain in detail about "Users and Uses of Financial Accounting." Information such as cash flow statements, income statements, and balance sheets are important documents that are kept to ensure that the company is recording everything correctly. The users of this accounting information are divided into two categories, internal and external users.

The internal users of accounting information are the managers who organize, operate and plan daily business routine. They are directly affiliated with the company and use administrative accounting, which includes in-depth reports used to determine financial strengths and weaknesses. For example, internal users would include management, finance, marketing, and human resources. An example of a human resource manager would be that he or she has to ensure the rights of their employees by using wage information along with other data. Important questions arise with internal users. A question for a marketing manager would include, "What price for an Apple I Pad will maximize the company's net income?"

External users are groups of individuals that are outside organizations, and they use accounting to make financial decisions. An example of an external user would include a creditor, who uses accounting to evaluate the risks of granting credit. Taxing authorities, investors, and customers are also external users. External users would receive limited financial information from a company such as financial statements. These statements are the backbone of financial accounting and they give the external users enough information to inform them of the company's economic position. Assets, liabilities, revenues, and expenses are of great importance to users of accounting information. For business purposes, it is customary to arrange this information in the format of four different financial statements; Balance sheet, income statement, retained earnings statement, and statement of cash flows.

The purpose of the income statement is to report the success or failure of the company's operations for a period of time. The income statement lists the company's revenues followed by it expenses. A key point to recall when preparing an income statement is that amounts received from issuing stock are not revenues, and amounts paid out as dividends are not expenses. Therefore they are not reported on the income statement. Retained earnings statement shows the amounts and causes of changes in retained earnings during the period. The time period is equivalent to the time covered on the income statement. Financial statement users can evaluate dividend payment practices by monitoring the retained earnings statement. Some investors seek companies that have a history of paying high dividends, while others seek companies that reinvest earnings to increase the company's growth.

The balance sheet is based on this equation: Assets = Liabilities + Stockholders Equity. This equation is referred to as the basis accounting equation. The balance sheet reports the company's assets, liabilities and owners equity. It is a financial window to the company at a specific point in time. Claims are divided into two categories: claims of creditors, which are called liabilities and claims of owners, which are called stockholders equity. On the balance sheet it lists the company's financial position as of a specific date in this order: assets first, then liabilities and stockholder's equity. A note to self about stockholders equity is that it is composed of common stock and retained earnings. Finally there is the statement on cash flows. The purpose of the statement of cash flows is to provide financial information about the cash receipts and cash payments of a business for a specific period of time. Users are interested in the statement of cash flows because they want to get a better understanding of what is happening to a company's most important resource. The statements of cash flows answer these following questions: 1) Where did cash come from during the period? 2) How was the cash used during the period? 3) What was the change in the cash balance during the period? The statement of cash flows also organizes and reports the cash generated used in the following activities: financing, investing, and operating. All businesses are involved with these three types of activities.

Financing activities is described as taking money to make money. The two sources of outside funds for corporations are borrowing money and selling shares of stock in exchange for cash. Investing activities involve the purchase of the resources company's need in order to operate such as sale of long-term investments, property, plant, and equipment. Finally there is operating activities. Once a business has the assets it needs to get started it can begin its operations. Operating activities convert the items reported on the income statement to cash.

In conclusion, the users of financial statements are people who use financial documents for a large variety of business purposes and their ability to make decisions using these statements helps them to succeed in the business world. Students have a chance to succeed in business if they have the knowledge of professionals who use financial statement analysis techniques and tools used on a day-to-day basis.

How to Make Firefox Safe

Is Firefox Safe?

Firefox is considered to be the safest of all the major browsers. One of the main reasons Firefox has remained safe is its reliably short market history. Internet Explorer was one of the first browsers to enter the market. It was also the first choice of hackers. Identity thieves, spammers and hackers have all sharpened their skills with Internet Explorer and have now turned their attention to Firefox. This has forced Mozilla to constantly plug security holes in their browser. In addition, Firefox has increased it's ability to save your personal web history. If the browser is hacked, all this data becomes available to identity thieves. This article will show you how to protect your data and make Firefox safe.

Top 3 Ways To Make Firefox Safe

1. Plug Holes with Security Add-Ons.

What's the first step to make Firefox safe? The answer is add-ons. Mozilla.org has tons of free add-ons to make Firefox safe, fast and more appealing. By simply downloading small additional features and taking the proper precautions, you can easily make Firefox safe. However, leaving Firefox unmodified does not make it any safer than Internet Explorer which is notorious for security holes. Modifying Firefox with specific add-ons can provide you with an excellent security barrier.

The trouble is most websites are using Java Script to display banners, videos and other "click-able" elements. Net security advisers recommend that you avoid clicking on anything on questionable sites. However, this is a difficult task when you are quickly browsing through numerous pages. Clicking on the wrong link can cause a scripting attack, browsers hijacks, and malware to be added to your computer. Most script blocking add-ons have been proven effective, such as PC World's World Class Award winner "NoScript"; This tool helps to make Firefox safe by allowing Java Script and other executable content to run only from trusted domains of your choice. If you want to make Firefox safe you should have some form of script blocking.

Not all add-ons are made equal. Some Firefox's add-ons can make you more vulnerable to attack from malicious software. Hackers are able to implant Java script code into your browsers via the add-ons security holes. This allows spyware to record your personal info and passwords. These add-ons have become favorite tools for hackers:

Google Toolbar, Yahoo Toolbar, Del.icio.us Extension, Facebook Toolbar, AOL Toolbar, Ask.com Toolbar, and Netcraft Anti-Phishing Toolbar.

2. Keep Your Private Data Safe

The second step to make Firefox safe is private data security. One of the major areas of concern for Firefox safe usage is the amount of internet history that Firefox records. All web browsers can record your Internet history, search history, and passwords. However Firefox 3 has added features that allow it to remember all your password. This password manager benefits anyone with multiple complicated passwords. However, its better to not store these in your browser. If you insist on storing your passwords in Firefox, you should apply the master password feature that protects your saved passwords. Here is how:

1. Click "Tools"
2. Scroll down and choose "Options"
3. Choose the Privacy heading
4. Select "Saved Passwords"
5. Set "Master Password"

A Master Password will not prevent others from reading locally stored e-mails, viewing your browsing history, or from accessing sites the browser is already logged in to. You will need to shut down the browser and clear your temporary internet files to remove this data:

1. Quit, Firefox and any other web browser
2. Click Start, click "Control Panel", then then double-click "Internet Options".
3. On the General tab, click "Delete Files" under Temporary Internet Files.
4. In the Delete Files dialog box, click to select the "Delete all offline content" check box, and then click OK.
5. Click "OK".

Remember that Firefox does a traditional delete. So, this does not permanently erase the data from your hard drive. Only a secure delete can award you the ability to erase data from the drive permanently. For more on secure delete visit this Secure Delete Tutorial page

3. Listen to the Warnings

You can make Firefox safe by customizing your security settings to warn you of any suspected problems. By using this option, Firefox will warn you if a site has had a history of malicious attacks. This is a great preemptive measure that can save you from malware attacks and make Firefox safe. Here is how:

1. Click "Tools"
2. Scroll down and choose "Options"
3. Choose the Security tab
4. Click the check box for: "Warm me when a sites try to install add-ons", "Tell me if the site I'm visiting is a suspected attack site" and "Tell me if the site I'm visiting is A suspected forgery site.

The ClickBank E-Commerce Solution

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2. Start Your Own Affiliate Program

With ClickBank, you have your own built-in affiliate
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3. Receive Free Advertising

You receive additional exposure through free listing
On the ClickBank website and through the search
Facilities of other websites, such as CBMall.com.

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4. Obtain Referral Commissions

Even without applying for ClickBank credit card
Processing, you can earn referral agreements on
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5. Eliminate Sales Tax Problems

Are you registered for Value Added Tax (VAT) for
Online transactions for European Union (EU)
Countries since July 1, 2003?

Are you collecting the appropriate state or
Provincial sales taxes?

If you are a Canadian, are you aware of your
Obligation to collect Goods and Services Tax (GST)
And Harmonized Sales Tax (HST) on Internet
Transactions?

Again, ClickBank may be your solution. ClickBank
Is registered for EU purposes and adds the
Appropriate VAT to each transaction.

As well, to deal with ClickBank, you must agree to
Sell ​​your product to them. ClickBank then resells
Your product to their customers. Thus, ClickBank
Becomes the retailer responsible for collecting
Sales taxes – not you. Obviously, ClickBank will
Not be subject to sales taxes in most jurisdictions.

Since ClickBank is located in the United States and
Can only sell or use the products it sells from
There, it would appear that Canadian GST and
HST would not be applicable to them.

Of course, this is not legal advice. To determine
Your liability for sales and similar taxes, consult
Your lawyer and accountant.

To read more about sales taxes on Internet
Transactions, visit
[Http://www.yenommarketinginc.com/e-commerce-tax.html]

Considering its many advantages, ClickBank may well
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Employment Law, Part I

Just how serious is employment law to the small businessperson? Very serious and let me tell you a true story; A horror story, which will make you think about just how serious these issues can be. In San Antonio TX one of our wash trucks was driving down the road and a border Patrol Officer passed them. We run a company that does onsite washing; Http://www.CarwashGuys.com . Down the road they dropped over two trucks and were handcuffing Mexican illegal aliens from those company's work trucks. Our crew drve by on their way to work. They had just left the shop and had on board two workers who worked for Labor Ready Co, for a year and a half previously and were still employed from them from time to time. We had gotten extra workers and filled our service truck with workers who were temporaries to work for us since they needed extra help with the full schedule that day.

The border patrol officer was then done with the other companies' trucks and saw we had Hispanic labor in the back and folded over our truck after chasing it down the highway. Turns out Labor Ready had hired the illegals because theyave fake identification to them; I question the Labor Ready procedures. Labor Ready charges us $ 11.95 per hour for workers they pay $ 5.40 per hour. That is fine with us on those super busy days. So it's a deal and saves us from background checks for jobs that are not too serious like rinsing car lots. Well we found out that 4 of the five workers we had gotten from Labor Ready did not have green cards or US Identification of any type, so they cuffed them right on the highway and took them in. Good, we do not hire illegals anyway. But think about it we hired labor from a reputable nationwide company, a franchise called Labor Ready. They take care of all this stuff and charge us up the gazooo for the workers.

We know they are overcharging but for temporary extra labor for one day it is worth it. They told us there are certain questions that can not ask them when hiring, such as are you a US Citizen or where were you born or things like that. I can not believe we have laws in the banking industry called "Know your customer laws" yet in employment we have no "Know your employee laws". We have an unspoken do not ask the employee anything except when you can start and explain the type of work. We have laws in banking so we catch money launderers and those who are working hard to not pay taxes they owe.

So it is okay for the government to enforce those laws through private enterprise, but it is not okay for employers to ask questions to protect homeland security and save themselves from embarrassment. Of course in this case it is not a crime to hire someone who has given you false information, and we can not collect damages from a company who followed the employment laws? So what the hell do we do here? We want to help enforce the law as well, so do all true Americans. But we have so many laws in place that keep us from helping the situation.

Incidentally the workers who were handcuffed called us at 7 am morning two-days later and are ready to work and asked what time to meet. They were picked up at 9 am hand cuffed and stamped and transported that day. They were back in one day ready to work within 2 days. Some border patrol we have, what a complete joke; Protecting America, me ass? Why not implant a homing devise in these illegals and track them by satellite and find out the leaks in the system and plug them; Homeland Security or Homey Land of opportunity. You step up border patrol and catch these people and document on a board the number of deportees, yet they come the day back into the country. This is a true story you can call me for more information.

We have half a notice to go to the border patrol and give them free truck wash every morning and ask them to run the workers records and remove them from the crew. Sometimes the yellow truck will be known for not hiring illegals. A few weeks of that and every one who comes to work for us from Ready Labor will know it. Is this what we have to do to plug the system? Can not the border patrol guys figure it out; Then we will? If you can not enforce our borders then open them. But do not lie to the small businesses of America that somehow we are protected at our borders. We are not. This is a sham. Did not the Jordan Commission spend years putting together a plan only to have it never implemented? Why did we waste or breath? This is pure politics, not reality; Another of Smoot's points in his book "The Business Side of Government." One of the workers asked to work for us again and he wanted to borrow the twenty dollars he spent for the bus ride from Laredo to San Antonio. Even the illegals think this is a joke. We told him he could not work for us anymore. He did not understand why, because other businesses would have I guess that is why he was dumfounded when we told him to get lost. We called the border Patrol and they said they could not pick him up unless we knew for sure he was illegal. We said well you picked him up yesterday is he suddenly legal now? Can you prove it? No, all we can prove is your system does not work and that Labor Ready is doing an injustice to its customers, stocksholders and this country by not enforcing the laws of our land; The same laws, which have provided economic wealth to them over the years. Are they doing this all over the country? Yes.

The manager of Labor Ready said they did not like the laws either, but they needed to make a living and the companies need workers. So does this mean that Labor Ready who has offices all over Texas never disclosed this to their stockholders or customers? Yes it does, which is a gray area at least and a violation of disclosure law at best. The truth here is that no one cares. We make rules to appease the masses who vote for these things and tell the people we are saving them from terrorists. What about terrorists who are dark skinned and speak Spanish? What if a Middle Eastern spoke Spanish and was a terrorist and told the others he snuck over the border with he was from Argentina, they would not know either. And the business owner would hire them through a temp agency, who was making money off the business owner pointing to employment laws and said, well they had fake paperwork not my fault. Maybe it is not the border patrol's fault but shunning responsibility does not save us from the next attack.

Either we are worried about the next attack or we are not. I want someone to call me from the INS or Border Patrol to discuss this and I want a satisfactory answer or we will take this true story and document it and send it to the media one day before we send it to all the Congressmen and Senators. If we are not worried about terrorists then tell us. If we are, then fix the leaks. Why does it take 10 years to fix problems, when international terrorist groups only wait 3-5 years between acts? Good question worth answering and with all the BS and rhetoric we are seeing opposition from the Hispanic Chambers of Commerce and Hispanic Politicians. With 65% of the population of San Antonio Hispanic who do not want these laws at all, then extend the Mexican Border to include San Antonio TX as a free zone. Why not make it all of Texas and we can then defend the borders of Texas, which can be a free zone with Mexico.

If you are just going to give it lip service and not fix the leaks of illegals then open the borders and forget it. This is pathetic. We know how to enforce the barriers and we give out fines to businesses who do not complain, yet allow free entry by anyone who can walk. I am surprised we have not made ADA mandated border crossings for those in wheel chairs or are asthmatically challenged. Put in 1 foot per 1 inch inclines over the Rio Grande for those in wheel chairs and then nice sidewalks all the way to Washington DC so they can have a baby and run for Congress or become a radical speech writer and proponent of mass demonstrations and guns . You think I am kidding do not you. I am serious all this is so fake and such a ridiculous waste of breath and tax payers money.

End of Employment Law, Part I