Monthly Archive June 2015

Financial Accounting I

Financial Accounting I
 
1) FULL FINANCIAL ACCOUNTING NOTES
2) MULTI-STEP INCOME STATEMENT QUESTIONS
3) BANK RECONCILIATION STATEMENT QUESTIONS
4) JOURNAL ENTRIES QUESTIONS

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Computer and IT Applications

Computer and IT Applications

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Chapters:

1) Intoduction,characteristics,functions and generation of computers
2)Wordprocessor
3)Computer Software
4) Number System
5) Programmin Language
6)Flowchart examples  

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Protect a document using password

Protect a document using password

Password:

Password is a word or other string of characters, sometimes kept secret or confidential, that must be supplied by a user in order to gain full or partial access to a multi user computer system or its data resources.

Document:

Document is a piece of written, printed, or electronic matter that provides information or evidence or that serves as an official record.

Steps:

step:1
Click the Microsoft Office Button ,point to Prepare, and then click Encrypt Document.
step:2

In the Encrypt Document dialog box, in the Password box, type a password, and then click OK.You can type up to 255 characters. By default, this feature uses AES 128-bit advanced encryption. Encryption is a standard method used to help make your file more secure.
 
step:3
In the Confirm Password dialog box, in the Reenter password box, type the password again, and then click OK.
 
step:4
To save the password, save the file.

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Mail merge and its steps

imagesMail merge:

Mail merge is the automatic addition of names and addresses from a database to letters and envelopes in order to facilitate sending mail, especially advertising, to many addresses.
                                                                   
 Mail Merge is a useful tool that allows you to produce multiple letters, labels, envelopes, name tags, and more using information stored in a list, database, or spreadsheet. When performing a Mail Merge, you will need a Word document (you can start with an existing one or create a new one) and a recipient list, which is typically an Excel workbook.
 

Steps:

To use Mail Merge:
 

1)Open an existing Word document, or create a new one.
2)From the Mailings tab, click the Start Mail Merge command and select Step by Step Mail Merge Wizard from the drop-down menu.

The Mail Merge pane appears and will guide you through the six main steps to complete a merge. The following example demonstrates how to create a form letter and merge the letter with a recipient list.

Step 1:
1)Choose the type of document you want to create. In our example, we’ll select Letters. Then click Next: Starting document to move to Step 2.

 
Step 2:
a)Select Use the current document, then click Next: Select recipients to move to Step 3.
 

Step 3:Now you’ll need an address list so Word can automatically place each address into the document. The list can be in an existing file, such as an Excel workbook, or you can type a new address list from within the Mail Merge Wizard.

a)From the Mail Merge task pane, select Use an existing list, then click Browse… to select the file.
b)Locate your file and click Open.
c)If the address list is in an Excel workbook, select the worksheet that contains the list and click OK.
d)In the Mail Merge Recipients dialog box, you can check or uncheck each box to control which recipients are included in the merge. By default, all recipients should be selected. When you’re done, click OK.
e)From the Mail Merge task pane, click Next: Write your letter to move to Step 4.

If you don’t have an existing address list, you can click the Type a new list button and click Create. You can then type your address list.

 


Step 4:

Now you’re ready to write your letter. When it’s printed, each copy of the letter will basically be the same; only therecipient data (such as the name and address) will be different. You’ll need to add placeholders for the recipient data so Mail Merge knows exactly where to add the data.

a)To insert recipient data:Place the insertion point in the document where you want the information to appear.
b)Choose one of the four placeholder options: Address block, Greeting line, Electronic postage, or More items.
c)Depending on your selection, a dialog box may appear with various options. Select the desired options and click OK.
d)A placeholder will appear in your document (for example, «AddressBlock»).
e)Repeat these steps each time you need to enter information from your data record. In our example, we’ll add a Greeting line.

f)When you’re done, click Next: Preview your letters to move to Step 5.

For some letters, you’ll only need to add an Address block and Greeting line. Sometimes, however, you may want to place recipient data within the body of the letter to personalize it even further.

Step 5:
a)Preview the letters to make sure the information from the recipient list appears correctly in the letter. You can use the left and right scroll arrows to view each document.
b)Click Next: Complete the merge to move to Step 6.
Step 6:a)Click Print… to print the letters.
b)A dialog box will appear. Click All, then click OK.
c)The Print dialog box will appear. Adjust the print settings if needed, then click OK. The letters will be printed.

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Domain and Range

Domain and Range of a Function
Domain:

The domain of a function is the complete set of possible values of the independent variable.

ie;The domain is the set of all possible x-values which will make the function “work”, and will output real y-values.

When finding the domain, remember:
The denominator (bottom) of a fraction cannot be zero.
The number under a square root sign must be positive in this work

eg:
Here is the graph of y=√​x+4​​​:

The domain of this function is x≥−4, since x cannot be less than −4. To see why, try out some numbers less than −4 (like −5 or −10) and some more than −4 (like −2 or 8) in your calculator. The only ones that “work” and give us an answer are the ones greater than or equal to −4. This will make the number under the square root positive.

Notes:
The enclosed (colored-in) circle on the point (−4,0). This indicates that the domain “starts” at this point.

How to find the domainIn general, we determine the domainof each function by looking for those values of the independent variable (usually x) which we are allowed to use. (Usually we have to avoid 0 on the bottom of a fraction, or negative values under the square root sign).

 
Range:The range of a function is the complete set of all possible resulting values of the dependent variable (y,usually), after we have substituted the domain.

ie;The range is the resulting y-values we get after substituting all the possible x-values.
How to find the range:
The range of a function is the spread of possible y-values (minimum y-value to maximum y-value)
Substitute different x-values into the expression for y to see what is happening. (Ask yourself: Is yalways positive? Always negative? Or maybe not equal to certain values?)
Make sure you look for minimum and maximum values of y.
Draw a sketch! In math, it’s very true that a picture is worth a thousand words.

Some Questions:
a) f(x)=x^​2​​+2 Domain: The function f(x) = x^2 + 2 is defined for all real values of x (because there are no restrictions on the value of x).
 
Hence, the domain of f(x) is”all real values of x”.

Range: Since x^^2 is never negative, x^2 + 2 is never less than 2
Hence, the range of f(x) is”all real numbers f(x)≥2″.

We can see that x can take any value in the graph, but the resulting y = f(x) values are greater than or equal to 2.

(b) f(t)=​1/t+2​​
Domain: The function f(t)=1/​t+2​​ is not defined for t = -2, as this value would result in division by zero. (There would be a 0 on the bottom of the fraction.)

Hence the domain of f(t) is”all real numbers except -2″

Range: No matter how large or small t becomes, f(t) will never be equal to zero.

 If we try to solve the equation for 0, this is what happens:
0=​t+2​​1​​

Multiply both sides by (t + 2) and we get
0=1

This is impossible.So the range of f(t) is”all real numbers except zero”.

We can see in the graph that the function is not defined for t=−2 and that the function (the y-values) takes all values except 0.

C)State the domain and range of the following relation. Is the relation a function?
{(2, –3), (4, 6), (3, –1), (6, 6), (2, 3)}

The above list of points, being a relationship between certain x’s and certain y’s, is a relation. The domain is all the x-values, and the range is all the y-values. To give the domain and the range, I just list the values without duplication:

domain: {2, 3, 4, 6}

range: {–3, –1, 3, 6}

(It is customary to list these values in numerical order, but it is not required. Sets are called “unordered lists”, so you can list the numbers in any order you feel like. Just don’t duplicate: technically, repetitions are okay in sets, but most instructors would count off for this.)

While the given set does represent a relation (because x’s and y’s are being related to each other), they gave me two points with the same x-value: (2, –3) and (2, 3). Since x = 2 gives me two possible destinations, then this relation is not a function.

Note that all I had to do to check whether the relation was a function was to look for duplicate x-values. If you find a duplicate x-value, then the different y-values mean that you do not have a function.

D)State the domain and range of the following relation. Is the relation a function?
{(–3, 5), (–2, 5), (–1, 5), (0, 5), (1, 5), (2, 5)}

I’ll just list the x-values for the domain and the y-values for the range:

domain: {–3, –2, –1, 0, 1, 2}
range: {5}

This is another example of a “boring” function, just like the example on the previous page: every last x-value goes to the exact same y-value. But each x-value is different, so, while boring, this relation is indeed a function. In point of fact, these points lie on the horizontal line y = 5.

There is one other case for finding the domain and range of functions. They will give you a function and ask you to find the domain (and maybe the range, too). I have only ever seen (or can even think of) two things at this stage in your mathematical career that you’ll have to check in order to determine the domain of the function they’ll give you, and those two things are denominators and square roots.

E)Determine the domain and range of the given function:

The domain is all the values that x is allowed to take on. The only problem I have with this function is that I need to be careful not to divide by zero. So the only values that x can not take on are those which would cause division by zero. So I’ll set the denominator equal to zero and solve; my domain will be everything else.

x^2 – x – 2 = 0
(x – 2)(x + 1) = 0
x = 2 or x = –1

Then the domain is “all x not equal to –1 or 2”.

The range is a bit trickier, which is why they may not ask for it. In general, though, they’ll want you to graph the function and find the range from the picture. 

In this case: 

As I can see from my picture, the graph “covers” all y-values (that is, the graph will go as low as I like, and will also go as high as I like). Since the graph will eventually cover all possible values of y, then the range is “all real numbers”.

F)Determine the domain and range of the given function:

The domain is all values that x can take on. The only problem I have with this function is that I cannot have a negative inside the square root. So I’ll set the insides greater-than-or-equal-to zero, and solve. The result will be my domain:

–2x + 3 > 0
–2x > –3
2x < 3
x < 3/2 = 1.5

Then the domain is “all x < 3/2”.

The range requires a graph. I need to be careful when graphical radicals.

The graph starts at y = 0 and goes down from there. While the graph goes down very slowly, I know that, eventually, I can go as low as I like (by picking an x that is sufficiently big). Also, from my experience with graphing, I know that the graph will never start coming back up. Thenthe range is “y < 0”.

G)Determine the domain and range of the given function:
y = –x^4 + 4

This is just a garden-variety polynomial. There are no denominators (so no division-by-zero problems) and no radicals (so no square-root-of-a-negative problems). There are no problems with a polynomial. There are no values that I can’t plug in for x. When I have a polynomial, the answer is always that the domain is “all x”.

The range will vary from polynomial to polynomial, and they probably won’t even ask, but when they do, I look at the picture:

The graph goes only as high as y = 4, but it will go as low as I like. Then:

The range is “all y < 4”.

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Permutation and combination

Permutation and combination

 
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Fundamental Principles of Counting :

Multiplication Theorem
If an operation can be performed in m different ways and following which a second operation can be performed in n different ways, then the two operations in succession can be performed in m × n different ways.
 
Fundamental Principles of Counting :
Addition Theorem
If an operation can be performed in m different ways and a second independent operation can be performed in n different ways, either of the two operations can be performed in (m+n) ways.
 
Factorial:
Let n be a positive integer. Then n factorial (n!) can be defined as n! = n(n-1)(n-2)…1
Examples:
5! = 5 x 4 x 3 x 2 x 1 = 120 3! = 3 x 2 x 1 = 6
 
Special Cases: a)0! = 1 b)1! = 1
 
Permutations:
Permutations are the different arrangements of a given number of things by taking some or all at a time
 
Examples:
a)All permutations (or arrangements) formed with the letters a, b, c by taking three at a time are (abc, acb, bac, bca, cab, cba) b)All permutations (or arrangements) formed with the letters a, b, c by taking two at a time are (ab, ac, ba, bc, ca, cb)
 
Combinations:
Each of the different groups or selections formed by taking some or all of a number of objects is called a combination
 
Examples:
Suppose we want to select two out of three girls P, Q, R. Then, possible combinations are PQ, QR and RP. (Note that PQ and QP represent the same selection) Suppose we want to select three out of three girls P, Q, R. Then, only possible combination is PQR
 
Difference between Permutations and Combinations and How to Address a Problem
Sometimes, it will be clearly stated in the problem itself whether permutation or combination is to be used. However if it is not mentioned in the problem, we have to find out whether the question is related to permutation or combination. Consider a situation where we need to find out the total number of possible samples of two objects which can be taken from three objects P,Q , R. To understand if the question is related to permutation or combination, we need to find out if the order is important or not. If order is important, PQ will be different from QP , PR will be different from RP and QR will be different from RQ If order is not important, PQ will be same as QP, PR will be same as RP and QR will be same as RQ Hence, If the order is important, problem will be related to permutations. If the order is not important, problem will be related to combinations. For permutations, the problems can be like “What is the number of permutations the can be made”, “What is the number of arrangements that can be made”, “What are the different number of ways in which something can be arranged”, etc For combinations, the problems can be like “What is the number of combinations the can be made”, “What is the number of selections the can be made”, “What are the different number of ways in which something can be selected”, etc. Mostly problems related to word formation, number formation etc will be related to permutations. Similarly most problems related to selection of persons, formation of geometrical figures , distribution of items (there are exceptions for this) etc will be related to combinations.
 
Repetition:
The term repetition is very important in permutations and combinations. Consider the same situation described above where we need to find out the total number of possible samples of two objects which can be taken from three objects P,Q , R. If repetition is allowed, the same object can be taken more than once to make a sample. i.e., if repetition is allowed, PP, QQ, RR can also be considered as possible samples. If repetition is not allowed, then PP, QQ, RR cannot be considered as possible samples Normally repetition is not allowed unless mentioned specifically. pq and qp are two different permutations ,but they represent the same combination.
 
Number of permutations of n distinct things taking r at a time:
Number of permutations of n distinct things taking r at a time can be given by nPr = n!(n−r)!=n(n−1)(n−2)…(n−r+1)where 0≤r≤n If r > n, nPr = 0  

Special Case:
 nP0 = 1nPr is also denoted by P(n,r). nPr has importance outside combinatorics as well where it is known as the falling factorial and denoted by (n)r or nr
Examples
8P2 = 8 x 7 = 56 5P4= 5 x 4 x 3 x 2 = 120
 
Number of permutations of n distinct things taking all at a time:
Number of permutations of n distinct things taking them all at a time = nPn = n! Number of Combinations of n distinct things taking r at a time Number of combinations of n distinct things taking r at a time ( nCr) can be given by nCr = n!(r!)(n−r)!=n(n−1)(n−2)⋯(n−r+1)r!where 0≤r≤n If r > n, nCr = 0 Special Case: nC0 = 1 nCr is also denoted by C(n,r). nCr occurs in many other mathematical contexts as well where it is known as binomial coefficient and denoted by (nr)
 
Examples:
 
1. Out of 7 consonants and 4 vowels, how many words of 3 consonants and 2 vowels can be formed?
 
ans) Number of ways of selecting 3 consonants out of 7 = 7C3 Number of ways of selecting 2 vowels out of 4 = 4C2Number of ways of selecting 3 consonants out of 7 and 2 vowels out of 4 = 7C3 x 4C2 It means that we can have 210 groups where each group contains total 5 letters(3 consonants and 2 vowels). Number of ways of arranging 5 letters among themselves = 5! = 5 x 4 x 3 x 2 x 1 = 120 Hence, Required number of ways = 210 x 120 = 25200
 
2. In a group of 6 boys and 4 girls, four children are to be selected. In how many different ways can they be selected such that at least one boy should be there?
 
ans) In a group of 6 boys and 4 girls, four children are to be selected such that at least one boy should be there. Hence we have 4 choices as given below We can select 4 boys ——(Option 1). Number of ways to this = 6C4 We can select 3 boys and 1 girl ——(Option 2) Number of ways to this = 6C3 x 4C1 We can select 2 boys and 2 girls ——(Option 3) Number of ways to this = 6C2 x 4C2 We can select 1 boy and 3 girls ——(Option 4) Number of ways to this = 6C1 x 4C3 Total number of ways = (6C4) + (6C3 x 4C1) + (6C2 x 4C2) + (6C1 x 4C3) = (6C2) + (6C3 x 4C1) + (6C2 x 4C2) + (6C1 x 4C1) [Applied the formula nCr = nC(n – r) ] = 15 + 80 + 90 + 24 = 209
 
3. From a group of 7 men and 6 women, five persons are to be selected to form a committee so that at least 3 men are there on the committee. In how many ways can it be done?
 
ans) From a group of 7 men and 6 women, five persons are to be selected with at least 3 men. Hence we have the following 3 choices We can select 5 men ——(Option 1) Number of ways to do this = 7C5 We can select 4 men and 1 woman ——(Option 2) Number of ways to do this = 7C4 x 6C1 We can select 3 men and 2 women ——(Option 3) Number of ways to do this = 7C3 x 6C2 Total number of ways = 7C5 + [7C4 x 6C1] + [7C3 x 6C2] = 7C2 + [7C3 x 6C1] + [7C3 x 6C2] [Applied the formula nCr = nC(n – r) ] = 21 + 210 + 525 = 756
 
4. In how many different ways can the letters of the word ‘OPTICAL’ be arranged so that the vowels always come together?
 
ans) The word ‘OPTICAL’ has 7 letters. It has the vowels ‘O’,’I’,’A’ in it and these 3 vowels should always come together. Hence these three vowels can be grouped and considered as a single letter. That is, PTCL(OIA). Hence we can assume total letters as 5. and all these letters are different. Number of ways to arrange these letters = 5! = [5 x 4 x 3 x 2 x 1] = 120 All The 3 vowels (OIA) are different Number of ways to arrange these vowels among themselves = 3! = [3 x 2 x 1] = 6 Hence, required number of ways = 120 x 6 = 720
 
5. In how many different ways can the letters of the word ‘CORPORATION’ be arranged so that the vowels always come together?
 
ans)The word ‘CORPORATION’ has 11 letters. It has the vowels ‘O’,’O’,’A’,’I’,’O’ in it and these 5 vowels should always come together. Hence these 5 vowels can be grouped and considered as a single letter. that is, CRPRTN(OOAIO). Hence we can assume total letters as 7. But in these 7 letters, ‘R’ occurs 2 times and rest of the letters are different. Number of ways to arrange these letters = [Loading Maths… ]2520In the 5 vowels (OOAIO), ‘O’ occurs 3 and rest of the vowels are different. Hence, required number of ways = 2520 x 20 = 50400
 
6. In how many ways can a group of 5 men and 2 women be made out of a total of 7 men and 3 women?
 
ans)We need to select 5 men from 7 men and 2 women from 3 women Number of ways to do this = 7C5 x 3C2 = 7C2 x 3C1 [Applied the formula nCr = nC(n – r) ] = 21 x 3 = 63
 
7. In how many different ways can the letters of the word ‘MATHEMATICS’ be arranged such that the vowels must always come together?
 
ans) The word ‘MATHEMATICS’ has 11 letters. It has the vowels ‘A’,’E’,’A’,’I’ in it and these 4 vowels must always come together. Hence these 4 vowels can be grouped and considered as a single letter. That is, MTHMTCS(AEAI). Hence we can assume total letters as 8. But in these 8 letters, ‘M’ occurs 2 times, ‘T’ occurs 2 times but rest of the letters are different. Hence,number of ways to arrange these letters = [Loading Maths… ]In the 4 vowels (AEAI), ‘A’ occurs 2 times and rest of the vowels are different. Hence, required number of ways = 10080 x 12 = 120960
 
8. There are 8 men and 10 women and you need to form a committee of 5 men and 6 women. In how many ways can the committee be formed?
 
ans)We need to select 5 men from 8 men and 6 women from 10 women Number of ways to do this = 8C5 x 10C6 = 8C3 x 10C4 [Applied the formula nCr = nC(n – r) ] = 56 x 210 = 11760
 
9. How many 3-letter words with or without meaning, can be formed out of the letters of the word, ‘LOGARITHMS’, if repetition of letters is not allowed?
 
ans)The word ‘LOGARITHMS’ has 10 different letters. Hence, the number of 3-letter words(with or without meaning) formed by using these letters = 10P3 = 10 x 9 x 8 = 720
 
10. In how many different ways can the letters of the word ‘LEADING’ be arranged such that the vowels should always come together?
 
ans) The word ‘LEADING’ has 7 letters. It has the vowels ‘E’,’A’,’I’ in it and these 3 vowels should always come together. Hence these 3 vowels can be grouped and considered as a single letter. that is, LDNG(EAI). Hence we can assume total letters as 5 and all these letters are different. Number of ways to arrange these letters = 5! = 5 x 4 x 3 x 2 x 1 = 120 In the 3 vowels (EAI), all the vowels are different. Number of ways to arrange these vowels among themselves = 3! = 3 x 2 x 1= 6 Hence, required number of ways = 120 x 6= 720  

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Types of Operating System|Computer

imagesTypes of Operating System:

 
There are many types of Operating systems those are organized by using their Working Techniques.
 
1) Serial Processing:
 
The Serial Processing Operating Systems are those which Performs all the instructions into a Sequence Manner or the Instructions those are given by the user will be executed by using the FIFO Manner means First in First Out. All the Instructions those are Entered First in the System will be Executed First and the Instructions those are Entered Later Will be Executed Later. For Running the Instructions the Program Counter is used which is used for Executing all the Instruction.
 In this the Program Counter will determines which instruction is going to Execute and the which instruction will be Execute after this. Mainly the Punch Cards are used for this. In this all the Jobs are firstly Prepared and Stored on the Card and after that card will be entered in the System and after that all the Instructions will be executed one by One. But the Main Problem is that a user doesn’t interact with the System while he is working on the System, means the user can’t be able to enter the data for Execution. 
 
 
2) Batch Processing:
The Batch Processing is same as the Serial Processing Technique. But in the Batch Processing Similar Types of jobs are Firstly Prepared and they are Stored on the Card. and that card will be Submit to the System for the Processing. The System then Perform all the Operations on the Instructions one by one. And a user can’t be Able to specify any input. And Operating system will increments his Program Counter for Executing the Next Instruction.
 
The Main Problem is that the Jobs those are prepared for Execution must be the Same Type and if a job requires for any type of Input then this will not be Possible for the user. And Many Time will be wasted for Preparing the Batch. The Batch Contains the Jobs and all those jobs will be executed without the user Intervention. And Operating System will use the LOAD and RUN Operation. This will first LOAD the Job from the Card and after that he will execute the instructions. By using the RUN Command.The Speed of the Processing the Job will be Depend on the Jobs and the Results those are produced by the System in difference of Time which is used for giving or submit the Job and the Time which is used for Displaying the Results on the Screen.
 
 
3) Multi-Programming:
As we know that in the Batch Processing System there are multiple jobs Execute by the System. The System first prepare a batch and after that he will Execute all the jobs those are Stored into the Batch. But the Main Problem is that if a process or job requires an Input and Output Operation, then it is not possible and second there will be the wastage of the Time when we are preparing the batch and the CPU will remain idle at that Time.
 
                                                                     But With the help of Multi programming we can Execute Multiple Programs on the System at a Time and in the Multi-programming the CPU will never get idle, because with the help of Multi-Programming we can Execute Many Programs on the System and When we are Working with the Program then we can also Submit the Second or Another Program for Running and the CPU will then Execute the Second Program after the completion of the First Program. And in this we can also specify our Input means a user can also interact with the System.The Multi-programming Operating Systems never use any cards because the Process is entered on the Spot by the user. But the Operating System also uses the Process of Allocation and De-allocation of the Memory Means he will provide the Memory Space to all the Running and all the Waiting Processes. There must be the Proper Management of all the Running Jobs.
 
 
 
4) Real Time System:
There is also an Operating System which is known as Real Time Processing System. In this Response Time is already fixed. Means time to Display the Results after Possessing has fixed by the processor or CPU. Real Time System is used at those Places in which we Requires higher and Timely Response. These Types of Systems are used in Reservation. So when we specify the Request, the CPU will perform at that Time. There are two Types of Real Time System
 
Types:
 
a)Hard Real Time System:
In the Hard Real Time System, Time is fixed and we can’t Change any Moments of the Time of Processing. Means CPU will Process the data as we Enters the Data.
 
b) Soft Real Time System:
In the Soft Real Time System, some Moments can be Change. Means after giving the Command to the CPU, CPU Performs the Operation after a Microsecond.
 
 
5) Distributed Operating System.-
Distributed Means Data is Stored and Processed on Multiple Locations. When a Data is stored on to the Multiple Computers, those are placed in Different Locations. Distributed means In the Network, Network Collections of Computers are connected with Each other.
                                                      Then if we want to Take Some Data From other computer Then we uses the Distributed Processing System. And we can also Insert and Remove the Data from out Location to another Location. In this Data is shared between many users. And we can also Access all the Input and Output Devices are also accessed by Multiple Users.
 
6) Multiprocessing:
Generally a Computer has a Single Processor means a Computer have a just one CPU for Processing the instructions. But if we are Running multiple jobs, then this will decrease the Speed of CPU. For Increasing the Speed of Processing then we uses the Multiprocessing, in the Multi Processing there are two or More CPU in a Single Operating System if one CPU will fail, then other CPU is used for providing backup to the first CPU. With the help of Multi-processing, we can Execute Many Jobs at a Time. All the Operations are divided into the Number of CPU’s. if first CPU Completed his Work before the Second CPU, then the Work of Second CPU will be divided into the First and Second.
 
7) Parallel operating systems:
They are used to interface multiple networked computers to complete tasks in parallel. The architecture of the software is often a UNIX-based platform, which allows it to coordinate distributed loads between multiple computers in a network. Parallel operating systems are able to use software to manage all of the different resources of the computers running in parallel, such as memory, caches, storage space, and processing power. Parallel operating systems also allow a user to directly interface with all of the computers in the network.
 
                                                           A parallel operating system works by dividing sets of calculations into smaller parts and distributing them between the machines on a network. To facilitate communication between the processor cores and memory arrays, routing software has to either share its memory by assigning the same address space to all of the networked computers, or distribute its memory by assigning a different address space to each processing core.
 
 

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Word processing

Wordprocessing,Features,Advantages,Disadvantages,Linking and Embedding

Word Processor:

A word processor is an electronic device or computer software application, that performs the task of composition, editing, formatting, and sometimes printing of documents.A word processor is a type of application software. Just as the word ‘application’ sounds, Word processors as spreadsheets, databases etc. allow users to accomplish a task with the computer. These tasks are the ones that differentiate word processors with other application software.

Word Processing:

Word processing is the act of creating, saving, editing, formatting and printing text and graphic documents using an electronic word processor.

Examples of Word Processors

  1. Microsoft Word
  2. Google Docs
  3. Open Office Writer
  4. Ami Pro
  5. Corel Word Perfect
  6. Lotus Word Pro
  7. Apple Works

Common features in word processing 

Most word processors, have the following features:

  1. They allow the use to create, save, edit, format and retrieve files.
  2. Have editing tools such as spelling checkers.
  3. Have predefined features such as generating headers, footers, indexes, footnotes and references.
  4. They can be used to create and import tables, graphics, text etc.
  5. Have a user friendly layout that allows the user to do an action easier and efficiently.

Advantages of  Word Processors:

There are numerous advantages of word processors over traditional word processors like typewriters and they include:

  1. Provision of storage area
  2. Its more easier and efficient because of automated features like word wrap, auto complete, auto text etc.
  3. Have superior editing tools such as thesaurus , auto-correct, spelling and grammar checkers
  4. Have superior document formatting features like Bolding, italics, underline, emboss etc
  5. Ability to create tables and organize information in an organized manner
  6. Its possible to print multiple copies
  7. Produce neat work
  8. Easier to deal with graphics
  9. Can be reconfigured to correspond with user needs like indenting, setting gutters, paper size etc.
  10. Are flexible and portable- i.e can be used from one machine to another and text format can easily be converted.

Disadvantages of Word Processors:

  1. Require skills to use
  2. Require electric power to function
  3. They are expensive to acquire

How to choose a correct word processor?

To be able to choose a correct word processor, consider the following points:

  1. Check the type of operating system you are using and check whether it can support which word processors
  2. If its user friendly
  3. Consider your user needs
  4. Consider the cost of purchase
  5. Whether it has most common features available with most word processors
  6. Whether it comes with a warranty
  7. Whether it has inbuilt automatic updates
  8. Whether it comes with a documentation that has help and support.

Editing And Formatting a Document:

Editing refers to making necessary changes to an existing document. e.g deleting, inserting, overtype, typeover etc. The tools that can be used to edit include: find, replace, thesaurus, undo and redo, spelling and grammar checkers, autocorrect, autocomplete etc.

Block operations

block operation is used to refer to working with a subset of data Highlighting a block of text: To highlight means to select a subset of data you want to work with and this is done with either a mouse or a keyboard. To select a character:

  1. drag the mouse on the character or
  2. use shift+left or right arrow keys

To select a word/phrase:

  1. Double click on the word/phrase or
  2. Drag the mouse on the word/phrase or
  3. Use shift+up or down arrow keys

To  select a sentence:

  1.  Drag the mouse on the paragraph or
  2. use Shift+Home or End keys or Shift+up or down arrow keys

To select a page:

  1. Drag the mouse on the entire page or
  2. use Shift+Page Down or Page Up arrow keys

To select the entire document:

  1. Drag the mouse over the document or
  2. Press Ctrl+A or Shift+Ctrl+End or Shift+Ctrl+Home

Editing Modes

Editing modes provides the user with a variety of editing options. There are two types of editing modes namely: Insert mode and typeover mode

Insert Mode

Implies that when text is inserted between words or characters, it pushes the existing text to the right as you type.

Typeover Mode

Also known as Overtype implies that when text is typed between existing words or characters, the new text automatically replaces the characters on the right of the insertion pointer as you type.

To turn on/off Overtype Mode  (Office 2010)

  1. Click the file tab , and then at the bottom of the dialog, click Word Options.
  2. In the left pane, click Advanced.
  3. Under Editing options, select or clear the Use overtype mode check box or select “Use insert key to control overtype mode” to switch the mode from the insert key.
overtypemode

Deleting Text

To delete a character, a line, sentence or a block of text;

  1. Use the delete key or backspace key on the keyboard depending on the position of the cursor
To restore deleted text, use the undo command (Ctrl+V) either use the undo control from the quick launch toolbar

undo command

Find and Replace Command

The Find Command

The find command and is a feature that searches for a word or phrase in a block of text To use the find command;

1.    On the home tab under editing group select the find control option
find command
2.    On the task window that appears, type the phrase you want search; the phrase will automatically highlight the searched phrase
3.    To customize advanced search, click on the down arrow right of the text box then choose options option oradvanced search option then more button
advanced option
a)    Match case option; Searches for a phrase that matches the case of the search phrase
b)    Find whole words only; searches for a phrase that holistically matches the searched phrase
c)    Use wildcards; a wildcard is a character that will match any character or sequence of characters in a search e.g. k* searches for any word that begins with k
d)    Sound like; searches for phrases that sounds same in pronunciation
e)    Find all word forms; Check this option to find singular, plural, present tense, past tense, and participle forms of the word you’re searching for.
 

Linking and Embedding:

Both linking and embedding are similar in their functionality. You have the freedom to add objects like files, images, or audio files either by embedding or linking in a Word document, HTML document, or even an Excel spreadsheet.
 

What is Linking? Linking is a way to add a file to another file. The linked file can be placed on your computer, or you may be linking a web page. You link the web pages by including the entire URL to the target document (Word, HTML or Excel). When you try to upload two linked files on a web site, then you have to ftp both the files. In case of sending such files via emails, you need to place both the files in a folder before zipping it and sending it across.

 

 

What is Embedding?

 

Embedding is a way to incorporate a document into an existing file. Once a document is embedded into another file, they start to exist as a single file. Say if a pie chart from an Excel file is embedded in a Word document and you make changes to this pie chart, then it does not get reflected in the Word document. The original document’s size gets bloated due to the embedded file.
 
Differences between Linking and Embedding:
 
When the files are linked, then a change in the linked file gets updated in the destination file. In the case of embedding, changes in the embedded file do not propagate to the destination file. You need to manually make the changes in the destination file by double-clicking the embedded file.
 
 
1. In the case of linking, the data gets stored in the source file and is updated there
whenever a change occurs in the linked file.
 
2. In the case of embedding, the data is stored in your file and any updates in the original source file
are not reflected.
 
3. You can use linking when:
  • You need to make a presentation the next morning but the financial report is still not updated. You can link this report to your presentation. When the report gets updated, it will reflect in the presentation.
  • You want to add a logo to your company’s letterhead but it is still not finalized. You can link it to the letterhead so that the final logo is reflected on the letterhead when completed.
4. You can use embedding when you wish to distribute an organization chart in which
the role displayed changes according to the recipient.

 

 

 

 

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Cell refrences

Cell refrences
A cell reference refers to a cell or a range of cells on a worksheet and can be used in a formula so that Microsoft Office Excel can find the values or data that you want that formula to calculate.

Types of cell refrences:

1. Relative cell refrences
2. Absolute cell refrences
 
Relative Cell References:
 
This is the most widely used type of cell reference in formulas. Relative cell references are basic cell references that adjust and change when copied or when using AutoFill.
 
Example:
 
=SUM(B5:B8), as shown below, changes to =SUM(C5:C8) when copied across to the next cell.
 
 

 

Absolute Cell References:

Situations arise in which the cell reference must remain the same when copied or when using AutoFill. Dollar signs are used to hold a column and/or row reference constant.
 
Example:
 
In the example below, when calculating commissions for sales staff, you would not want cell B10 to change when copying the formula down. You want both the column and the row to remain the same to refer to that exact cell. By using $B$10 in the formula, neither changes when copied.
 
 
 
 
 
A more complicated example:
 
Let’s pretend that you need to calculate the prices of items in stock with two different price discounts. Take a look at the worksheet below.
 
 
Examine the formula in cell E4. By making the first cell reference $C4, you keep the column from changing when copied across, but allow the row to change when copying down to accommodate the prices of the different items going down. By making the last cell reference A$12, you keep the row number from changing when copied down, but allow the column to change and reflect discount B when copied across. Confused? Check out the graphics below and the cell results.
 
Copied Across
 
Copied Down
 
Now, you might be thinking, why not just use 10% and 15% in the actual formulas? Wouldn’t that be easier? Yes, if you are sure the discount percentages will never change – which is highly unlikely. It’s more likely that eventually those percentages will need to be adjusted. By referencing the cells containing 10% and 15% and not the actual numbers, when the percentage changes all you need to do is change the percentage one time in cell A12 and/or B12 instead of rebuilding all of your formulas. Excel would automatically update the discount prices to reflect your discount percentage change.
 
Summary of absolute cell reference uses:
 
 
  • $A1 Allows the row reference to change, but not the column reference.
  • A$1 Allows the column reference to change, but not the row reference.
  • $A$1 Allows neither the column nor the row reference to change.
 
 
There is a shortcut for placing absolute cell references in your formulas!
 
When you are typing your formula, after you type a cell reference – press the F4 key. Excel automatically makes the cell reference absolute! By continuing to press F4, Excel will cycle through all of the absolute reference possibilities. For example, in the first absolute cell reference formula in this tutorial, =B4*$B$10, I could have typed, =B4*B10, then pressed the F4 key to change B10 to $B$10. Continuing to press F4 would have resulted in B$10, then $B10, and finally B10. Pressing F4 changes only the cell reference directly to the left of your insertion point.

Excel uses two types of cell references to create formulas. Each has its own purpose. Read on to determine which type of cell reference to use for your formula.

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Financial Accounting I

Financial Accounting I 

Meaning of Accounting:

Accounting is the process of identifying,measuring,and communicating economic information to various users,including management of the company,stockholders,creditors,financial analysts and government agencies.
OR
Accounting is an information system which measures, processes and communicates financial information of an organization. The business activities are indentified and measured in term of money, which are then processed and finally communicated to the various group of users.
 

Function of Accounting;

1)Recognizing and recording of financial transaction:
Human memory is subject to limitations.It cannot remember all the details of happenings so written records are required for future use.
For example, receipt of cash, payment of cash, purchase and sale of goods, items that are purchased for not for resale etc. are items that need recording. This part of accounting is called the recording function.
 
2)Classifying and summarizing:
The recorded data are then sorted so that the data can be meaningful to the users. This sorting of accounting data is known as classifyingand summarising. Perhaps, the recorded information would have the least meaning to the various groups of people if such classifications and summaries do not establish whether the business is making profit or loss during a particular period.
 
3)Analysis, Interpretation and communication of information:
Simply recording, classifying and summarising is not enough. The accounting experts need to provide their opinion whether or not the business is doing well financially. They should be able to establish the strength and weaknesses of the business with regards to profitability, liquidity, and financial position.
 

Users of Accounting information and their needs:

It is helpful to categorize users of accounting information on the basis of their relationship to the organization .Internal users,primarily the managers of a company,are involved in the daily affairs of the business.All other groups are external users.
1)Internal users:
  • Management: The managers are responsible for planning, control and decision making.
2)External users:
  • Suppliers: They need accounting information to provide credit, its continuation or withdraw the existing credit facility
  • Shareholders: They need accounting information to know the efficiency of business i.e. profitability and dividend payout ratio.
  • Government Agencies: They need accounting information for tax purpose, VAT, municipal taxes, custom duty, subsidy of business making business policy, standard of product, resources mobilization
  • Employee and their Union: They need accounting information for salary, wages, gratuity, bonus and retirement benefit.
  • Analysts, Brokers, advisers and researchers: Many users seek the help of these specialists who analyze the financial information and provide their expert opinions to their clients. The clients uses the information provided by them to make decisions or to form judgments about a business.
 

Forms of organization:

Business entities are organized as sole proprietorships, partnership and corporations. Nonbusiness entities include government entities, such as local, state and federal governments and private organizations such as hospitals and universities.There are many different types of organizations in our society. One convenient way to categorize the myriad types is to distinguish between those that are organized to earn money and those that exist for other purpose.
 
A)Business entities:Business entities are organized to earn profit. Legally, a profit –oriented company one of these types: a sole proprietorship, a partnership or a corporations.
 
1)Sole proprietorships:
This form of organization is characterized by a single owner. Many small businesses are organized as sole proprietorships. The business is often owned and operated by same person. Because of the close relationship between the owner and business, the affairs of the two must be kept separate. This is one example in accounting of the economic entity concept, which requires that a single, identifiable unit of organization be accounted for all situations.
 
2)Partnerships:
A partnership is a business owned by two or more individuals. Many small businesses begin as partnerships. When two or more partners start out, they need some sort of agreement as to how much each will contribute to the business and how they will divide any profits. In many small partnerships, the agreement is often just an oral understanding between the partners. In large businesses, the partnership agreement is formalized in a written document.
 
3)Corporations:
Although sole proprietorships and partnerships dominate in sheer(quite) number, corporations control an overwhelming majority of the private resources in this country. A corporation is an entity organized under the laws of particular state. Each of the 50 states is empowered to regulate the creation and operation of businesses organized as corporation in it.
       To start a corporation, one must file articles of incorporation with the states. If the articles are approved by the state, a corporate charter is issued and the corporation can begin to issue stock. A share of stock is a certificate that acts as evidence of ownership in a corporation.
 
Advantage of incorporation:
  • One of the primary advantages of the corporate form of organization is the ability to raise large amounts of money in a relatively brief period of time.
  • The case of transfer of ownership in a corporation is another advantage of this form of organization.
 

Generally Accepted Accounting Principles(GAAP):

The various methods, rules, practices, and other procedures that have evolved over time in response to the need to regulate the preparation of financial statements.
  • Going concern: The assumption that an entity is not in the process of liquidation and that it will continue indefinitely.
  • Time period: An artificial segment on the calendar used as the basis for preparing financial statements.
  • Monetary unit: The yardstick used to measure amounts in financial statements, e.g., Rs. Nepal
  • Economic entity concept: The assumption that a single identifiable unit must be accounted for the all the situation.
  • Cost principle: Assets are recorded at the cost to acquire them.

Qualitative Characteristics of accounting information:

  • Understandability:
    The quality of accounting information that makes it  comprehensible to those willing to spend the necessary time.For anything to be useful, it must be understandable. Usefulness and understandability go hand to hand. However, understandability of financial information varies considerably depending on the user’s background.
         Understandability alone is certainly not enough to render information useful.According to the FASB,two fundamental characteristics make accounting information useful.The information must b e relevant,and it must be faithful representation.
  • Relevance:
    The capacity of information to make difference in a decision. Sometimes information may have predictive value. for e.g. Assume that you are a banker evaluating the financial statements of a company seeking a loan.The financial statements point to a strong,profitable company .However,today’s news revealed that the company has been named in a multimillion-dollar lawsuit.This information would be relevant to your talks with the company.Disclosure of the lawsuit in the financial statements would help you predict whether it would be wise to make a loan to the company.
               In other case information may have confirming value. for e.g. Assume that you invest in a company because you think it may enter new Asian markets in the near future.Disclosure in the statements that the company acquired a Chinese subsidiary would confirm you made the right decision to invest in the company.
  •  Reliability:
    The quality that makes accounting information dependable in representing the events that it purposes to represent.
                  – Verifiability (free from error)
                  –Representational faithfulness
                  –Neutrality
  • Comparability:
    Comparability allows comparisions to be made between or among companies.For accounting information, the quality that allows a user to analyze tow or more companies and look for similarities and differences.
  • Consistency:
    Consistency means that financial statements can be compared within a single company from one accounting period to the next.For accounting information, the quality that allows a user to compare two or more accounting periods for single company.
  • Materiality:
    The magnitude of an accounting information omission or misstatement that will affect the judgement of someone relying on the information. It is closely related to relevance and deals with the size of an error in accounting information. The issue is whether the error is large enough to affect the judgment of someone relying on the information.(Pencil and computer).
  • Conservatism:
    The practice of using the least optimistic estimate when two estimates of amounts are about equally likely. It is a holdover from earlier days when theprimary financial statement was the balence sheet and the primary user of this statement was the banker.It was customary to deliberately understate assets on the balence sheet because this resulted in an even larger margin of safety that the assets being provided as collateralfor a loan were sufficient.Today,the balence sheet is not the only financial statement ,and deliberate understatement of assets is no longer considered desirable.The practice of conservatism is reserved for those situation in which there is uncertainity about how to accout foer aparticular item or transaction.

Nature of business activities:

Overview:
Business engage in three types of activities: financing, investing and operating. Financing is necessary to start a business and funds are obtained from both stockholder and creditors. These funds are invested in the various assets needed to run a business. Once funds are obtained and investments made in productive assets, a business begins operations, which may consists of providing goods and services or both.
 
1)Financing activities:
All business must start with financing. Simply put, money is needed to start a business. The company sells stock to the public to raise money. Most companies not only sell stock to raise money but also borrow from various sources to finance their operations.Accounting has unique terminology. In fact accounting is often referred to as the language of business. The discussion of financing activities brings up two important accounting term: liabilities and capital stock.
 
2)Investing activities:
There is a natural progression in a business from financing activities to investing activities. Once That is, once are generated from creditors and stockholders, money is available to invest.An asset is a future economic benefit to a business. For example, cash, equipment.An asset represents the right to receive some sort of benefit in the future. The point is that not all assets are tangible in nature like, inventories, building and equipment.
 
3)Operating activities:
Revenue is the inflow of assets resulting from the sale of product and services. When company makes a cash sale, the asset it receives in cash. When a sale is made in credit, the asset received is an account receivable. Revenue represents the amount of sales of products and services for specific period of time.We have thus far identified one important operating activity: the sale of products and services. However, costs must be incurred to operate business.
–Suppliers must be paid for purchase of inventory
–Utility expense has to be paid
–Wages and salaries expenses
 

Objectives of financial reporting:

  • Financial reporting has one primary objective: to provide useful information to those who must make financial decisions.
  • A variety of external users need information to make sound business decisions, including stockholders, bondholders, bankers and other types of creditors such as suppliers. These users must make an initial decision about investing in a company, regardless of whether it is in the form of a stock, a bond or a note. The balance sheet, the income statement, and the cash flow statement, along with the supporting notes and other information found in an annual report, are the key sources of information needed to make sound decision.
  • The balance sheet tells what obligations will be due in the near future and what assets will be available to satisfy them.
  • The income statement tells the revenue and expenses for a period of time.
  • The statement of cash flow tells where cash came from and how it was used during the period.
  • The note provides essential details about the company’s accounting policies and other key factors that affect its financial condition and performance.

Primary objectives of financial reporting:

  • The primary objectives of financial reporting are to provide economic information to permit users of the information to make informed decisions. Users include both the management of a company (internal users) and others not involved in the daily operations of the business (external users). External users usually do not have access to the detailed records of the business or the benefit of daily involvement in the company’ affairs. They make decisions based on financial statements prepared by management.

Secondary objectives of financial reporting:

1)Reflect prospective cash receipts to investors and creditors:
a)Investor: If I buy stock in this company, how much cash will I receive?
                    •In dividends
                    •From the sale of the stock
b)Banker: If I lend money to this company, how much cash I will receive?
                    •In interest on the loan
                    •When and if the loan is repaid
2)Reflect prospective cash flows to company:Investors, bankers and other users ultimately care about their cash receipts, but this depends on to some extent on the company’s skills in managing its own cash flows.
3)Reflect the company’s resources and claims to its resources: A company’s cash flow is inherently ties to the information on the:
        –Balance sheet (assets, liabilities and owners’ equity)
        –Income statement ( Revenue and expenses)
 
 

Source Documents:

A piece of paper that is used as evidence to record a transactions. Examples are:

  • Cash Memo:

    This is used for cash transactions. A Cash Memo is received or given when goods are purchased or sold for cash. Hence, all cash transactions are recorded in the books of accounts on the basis of these cash memos. The cash memo is different from Cash Receipt in the sense that it is normally issued for cash received subsequent to the sale of goods but Cash Memo is used for money received instantly.

  • Invoice or Credit Bill:

    An Invoice or Credit Bill is used for business transactions carried out on credit. A sales invoice is prepared to record the credit sale of goods or provision of services. The original copy of the sales invoice is sent to the purchaser and the seller keeps a duplicate copy as the proof of sale.

  • Receipts:

    A firm issues a receipt when it receives cash or cheques. It is an acknowledgement of receipt of cash or chequeand acts as a documentary proof for receiving the cash.

  • Deposit Slip:

    It is a form available from the bank for depositing money or chequein a bank account. It has a counterfoil or a carbon copy, which is returned to the depositor with signature of the cashier, as receipt. The counterfoil or a carbon copy of the deposit slip gives the details regarding the date, the amount (in cash or chequedeposited) etc.

  • Cheque:

    A cheque is a form made available by a Banker to its account holder. Each chequehas a counterfoil to record the same information written on the chequethat remains with the account holder for his future reference. The counterfoil is taken as a source document to make entries about payments in the books of accounts.

  • Debit Note:

    Debit note is a note sent to a supplier informing him that his account has been debited to the extent of goods returned to him. It is also used to send to a customer informing him that an additional amount is recoverable from him for difference in price etc.

  • Credit Note:

    Credit note is a note sent to a customer informing him that his account has been credited to the extent of goods returned by him or sent to a supplier informing him about the difference in price etc.

  • Bank Statement:

    It is a statement sent by the Bank on a regular basis, say monthly. It shows the running balance of the bank account for the period with details of deposits and payments out of the Bank Account.

Role of Source Documents in Accounting:

  • Recording basis:The source documents are the basis for recording and accounting, without which recording would be virtually meaningless.

  • Authenticates the amount paid or received:The source document establishes the amount paid or received.

  • Evidence in the court of law:The source documents can be produced in the court of law as documentary proof in the event of any dispute involving the accounting entity.

  • Basis for taxation:The tax authorities use the source documents to establish the amount of tax to be paid by the accounting entity extensively.

  • Information about make, quantity, and values:Source documents provide, in brief, the information about the model, make, quantity, amount of tax collected or payable, and the value of transactions.

  • Proof of payment or receipt:The source documents are the proof of payment made and amount received along with their purposes. For e.g., issue of account payee chequesand their record in the Bank Statement is a proof of payment.

 

Annual Report:

The joint stock companies publicly owned and listed on a stock exchange are required to prepare and publish an annual report for its shareholders. In Nepal, the privately owned companies are also required by the Companies Act, 2053 BS to prepare an annual report and submit it to the Office of the Registrar of Companies.

Components of annual report

  1. Financial Statements:

    The financial statements consist of four statements prepared by the companies as a form of communication with its shareholders and other user groups. They include income statement, the balance sheet, statement of cash flows, and statement of changes in stockholder’s equity. The information provided in the financial statements is the responsibility of the management and subject to verification as part of the external audit.

  2. Chairperson’s Report:

    This report is an address by the Chairperson of the company’s Board of Directors to its shareholders at the Annual General Meeting (AGM). It comprises the summary of the results of financial affairs, composition of the BOD and discussion about the external environment, especially the economic and financial situation of the country and place of operation of the business. The chairperson might take this opportunity to thank and acknowledge the support and co-operation of the company’s BOD, shareholders and staff and employees.

  3. Management Discussion and Analysis:

    The management team discusses the financial statements and provides vital explanations for the amounts reported in the financial statements. Some companies report this section as financial review. The section is directed at not only simplifying the information contained in the financial statement and any back-up information requiring clarification but also providing crucial information about the company’s business plan or strategy.

  4. Management’s responsibility for financial reporting:

    It is a written statement in the annual report indicating the responsibility of management for the financial statements.

  5. Management’s responsibility for financial reporting:

    It is a written statement in the annual report indicating the responsibility of management for the financial statements.

  6. Notes to Financial Statements:

    The notes to financial statements provide crucial information regarding the accounting policies and procedures adopted, the basis of taxation, the employee benefit schemes, the commitments and contingencies, the inventories, the account receivables, account payables and other details of items clubbed together to make the financial statements brief.

  7. Financial Summary:

    Another regular feature in any annual report is the summary of financial information, especially of the revenue, net income, and total assets. Many reports call it financial highlights. This section is primarily a pictorial representation using colourful pie charts, bar diagrams, or graphical curves.

  8. Report of the Independent Auditor:

    Before the annual report is presented to the company’s shareholders at the AGM and submitted to the concerned government office, the books of accounts and the financial statements of the company are subject to an external audit from an independent auditor. After such an audit, the auditor issues a report addressing to the company’s shareholders.(According to accounting standard)

 

Advantages of computer in accounting

  1. Speed:

    This is the first noticeable advantage computer has over humans and it can function at speeds unthinkable by them.

  2. Storage:

    The computer can store large volumes of information. But the retrieval system of humans is not able to diagnose the needed information at the right time and within a short time span. Whereas, a computer can bring back whatever is stored in memory, depending o its capacity as described in the magnetic disk section, repeatedly at an unbelievable speed and with certitude.Advantages of computer in accounting

  3. Accuracy:

    To err is human, however simple a problem may be one can make a mistake. But amount of research and hard work that has gone into developing the computer has made it 100% accurate. Any error in the results derived a computer is due to the error of human in giving the needed logical set of instructions to it.

  4. Automaticity:

    The computer is capable of functioning automatically; only the process must be initiated. This characteristic is best used in robots or special-purpose computers.Advantages of computer in accounting

  5. Diligence:

    Human beings are susceptible to boredom by physical and mental tiredness and by lack of concentration. This does not hold true for a computer which is capable of operating exactly the same level of speed and accuracy in carrying out the most complex and voluminous operation for a long period of time.

  6. Versatile:

    The wide use of computers in every field of human life is a proof of their versatility.  They can carry out widest range of calculations from those of a school student to the complex calculations and logical evaluation needed in launching a rocket. They are used widely different field.Cash and cash equivalents•An investment that is readily convertible to known amount of cash and has original maturity to the investor of three months or less. Examples:–Commercial paper issued by corporations–Treasury bills issued by the federal government–Money market funds offered by financial institutions

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