Kimanichelsea20

1. A bakery owner asked 150 customers to taste a new type of cookie and found that 60 people liked its taste. Which of these is an example of descriptive statistics?  a.)40% of the people in the city where the bakery is located like the taste of the cookie.  b.)40% of all the bakery’s customers like the taste of the cookie.  c.)40% of the surveyed customers like the taste of the cookie.  d.)40% of all people like the taste of the cookie. A company packed 8 dark chocolates in a box ...

1. Types of Accounts An account is a record that provides information about a given asset, liability, equity, revenue, or expense. All accounts organize into what is called a chart of accounts, which details all of the accounts contained within a company's financial system. There are two main types of accounts, which we will cover in more detail in the next sections: 1. Permanent accounts, which are a company's assets, liabilities, and equity. 2. Temporary accounts, which are a company'...

1. Publicly Traded Companies vs. Privately Owned Companies The main differentiator between publicly traded companies and privately owned companies is that publicly traded companies have their stock listed on an open market, while privately owned companies do not. Publicly traded companies are under more scrutiny, because they have to provide reporting information at certain intervals. There are also more regulatory requirements for publicly traded companies. Privately owned companies, on t...

This tutorial will cover the topic of the accounting cycle, which is a series of steps followed when processing and reporting accounting information. Our discussion breaks down as follows: 1. The Accounting Cycle a. Step 1: Analyzing b. Step 2: Journalizing c. Step 3: Posting d. Step 4: Adjusting e. Step 5: Reporting f. Step 6: Closing 1. The Accounting Cycle There are six phases in the accounting cycle cycle, and we will discuss each phase individually.  TERM TO KNOW Accounting ...

This tutorial will cover the topic of the accounting cycle, which is a series of steps followed when processing and reporting accounting information. Our discussion breaks down as follows: 1. The Accounting Cycle a. Step 1: Analyzing b. Step 2: Journalizing c. Step 3: Posting d. Step 4: Adjusting e. Step 5: Reporting f. Step 6: Closing 1. The Accounting Cycle There are six phases in the accounting cycle cycle, and we will discuss each phase individually.  TERM TO KNOW Accounting ...

This tutorial will cover governing principles in accounting, as well as the range of governing bodies involved in regulating accounting practices. Our discussion breaks down as follows: 1. Governing Principles 2. Governing Bodies 3. Federal Agencies 1. Governing Principles Let's begin by discussing governing principles in accounting, specifically GAAP and IFRS, exploring what they are and the differences between them. Generally Accepted Accounting Principles (GAAP) International Fina...

1. Managerial vs. Financial Accounting Managerial accounting is a branch of accounting that is focused on internal reporting to assist internal management with decisions, structure, and goals. Financial accounting accounting, on the other hand, is a branch of accounting that is focused on external reporting of financial status to provide information to decision makers and interested parties. Now, what is the common thread between managerial and financial accounting? Well, they both provide ...

This tutorial will cover the origins of accounting, as well as the purpose, roles, uses and ethical principles related to accounting. Our discussion breaks down as follows: 1. History of Accounting 2. Reasons for Accounting 3. Roles and Uses of Accounting 4. Ethics 1. History of Accounting We will begin our lesson by discussing how accounting started and how it evolved to its current state today. Believe it or not, accounting dates back more than 7,000 years to the Mesopotamian and Baby...

Project Phase A grouping of work that is a part of the project life cycle and contributes to the generation of project deliverables. 1a. Phase One: Beginning a Project This is the kickoff phase of the project, and it's where the project manager is assigned and begins work. This is also where the stakeholders are identified and the project scope and project deliverables are defined. This might happen before the project manager Is assigned, but often the project manager is part of this proc...

In this lesson, we'll discuss the roles and responsibilities of a project manager by exploring the following elements in detail: 1. Responsibilities of a Project Manager 2. Key Skills of a Project Manager a. Interpersonal Skills b. Communication Skills c. Analytical Skills d. Organizational Skills e. Expertise 3. Organizational Context 4. Ethical Considerations and Guidelines 1. RESPONSIBILITIES OF A PROJECT MANAGER There are many responsibilities of a project manager manager. A pro...