The Differences between Financial and Management Accounting Assignment

The Differences between Financial and Management Accounting - Assignment Example Management and managerial accounting are used by the management to make decisions with regards to the daily operation of the business. It is based on the past performance of the business. It relies majorly on the forecasting of market trends and markets. Management accounting is internally presented while financial accounting is meant for the external stakeholders. Financial management is important to the current potential investors while management accounting is used by managers in making current and future financial decisions. Finally,  financial accounting is succinct and adheres to the Generally Accepted Accounting Principles (GAAP) while management accounting is usually a guess or estimate given that a myriad of managers rarely have time for exact numbers when they need to make decisions.      Some of the key financial statements include;   Income statement (profit and loss account), Balance sheet, Cash flow.   Income statement tells the users about the earnings and the profitability of the business. The statement is for a specific period of time. The periodic statements are important given that the owners can know the periodic performance of the company. It shows the sales first then cost of sales, the differences of which gives the gross profit. Then it explains the operating expenses which are subtracted from the gross margin to show Earnings Before interests and Taxes (EBIT). It then subtracts expenses and taxes to get the net profit. The balance sheet shows the financial position of the business. It tells the investors whether the company is able to pay its bills on time and the flexibility in the acquisition of capital and the distribution of cash distribution in terms of dividends. The key items are assets, liabilities, and equity.

Rhetorical analysis of an argument Essay Example | Topics and Well Written Essays - 750 words

Rhetorical analysis of an argument - Essay Example Blake is a Londoner himself and this basic knowledge of his origin establishes the chief nature of logos linked to the ethos so that both may be set in equilibrium with the pathos as readers yield to spontaneous involvement of feeling and making sense of the narrative based on a similar experience. As Blake opens his poem â€Å"London† with â€Å"I wander thro’ each charter’d street; Near where the charter'd Thames does flow†, he means to reflect the state of misery which the city of London was confronted with in the 18th century. Blake lived in the time when tumultuous political affairs of the unscrupulous English authorities prevailed in the period coinciding the French Revolution and under such settings, the structure of law possessed rigidity which resulted to oppression and other unpleasant forms of injustice. Blake gives illustration to this by the repetition of the modifier term â€Å"charter’d† which seems to have gone overboard as th e ruling designates even the river Thames to unnecessary restrictions. Through his literary endeavor in â€Å"London†, Blake laments about the appalling conditions of the capital city which are depicted by the disconcerting sights as viewed from the atmosphere and external appearances of the general public. In his wandering, the speaker in â€Å"London† takes into account how largely keen his physical encounter is of the ailing situation that he becomes drawn to concretize with â€Å"In every cry of every Man; In every Infant's cry of fear; In every voice, in every ban†. These lamentations exhibit the worst extent of London’s depressed scenario which, according to the historical context the poet is looking at, is brought about by the wrongful or inhumane administration of law or political regulations at the time. Blake makes no mention of authorities or governmental body responsible for the complaints delivered in the poem, nevertheless, he implicitly dem onstrates the presence of unseen yet brutish socio-political force behind what may well be imagined as harsh occurrences causing people of 18th century London to suffer. This is widely evident in the third and fourth lines of the first stanza indicating â€Å"marks† which assumes both literal and symbolic meanings. The wandering speaker does not only pass along the streets as an ordinary traveller but as a critical observer who could not help empathizing for every picture he catches sight of particularly when he manages to perceive the outer countenance and feel the â€Å"marks of weakness† and the â€Å"marks of woe.† Though the poet observed London merely as he could in his capacity and limits of time, the scope of his piece spans into the society of the present where its essence proves relevant to some point. â€Å"London† may be considered as a classical work, however, since there are certain political aspects that remain true in application and value in today’s political system, the poem is able to convey relevance in manifesting how the government relates to people and addresses their needs. State corruption still occurs thereby impoverishing communities whose people are heavily or unreasonably taxed yet do not obtain proper returns in exchange of completed duties or who continue to receive minimum wages despite