By Carl S. Warren, James M. Reeve, Philip E. Fess
The main winning better schooling textual content of all time retains convalescing. The authors adapt their confirmed method of accounting's evolving function in company and use the coaching of economic statements because the framework for knowing what accounting is all approximately. Accounting presents a superb starting place of accounting techniques with distinct positive factors to teach how clients can use accounting to appreciate enterprise.
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The customers may also have an interest in the continued success of a business. For example, if Apple Computer were to fail, customers might not be able to get hardware and software for their computers. Likewise, customers who purchase advance tickets on Southwest Airlines have an interest in whether Southwest will continue in business. Frequent flyers on Eastern Airlines lost their accumulated frequent-flyer points when Eastern went out of business. Like the owners, the creditors invest resources in the business by extending credit, such as a loan.
ACCOUNTING INFORMATION SYSTEM 3 Design the accounting information system to meet stakeholders' needs The moral principles that guide the conduct of individuals are called ethics. Regardless of differences among individuals, proper ethical conduct implies a behavior that considers the impact of one’s actions on society and others. In other words, proper ethical conduct implies that you not only consider what’s in your best interest, but also what’s in the best interests of others. Ethical conduct is good business.
Maxx. Penney cannot adequately differentiate its stores and merchandise from such competitors as The Gap, Old Navy, Eddie Bauer, and Talbot’s so that it can charge higher prices. qxd 11/10/03 6:26 PM Page 6 6 Chapter 1 • Introduction to Accounting and Business A business may also attempt to implement different strategies for different markets. For example, Toyota segments the market for automobiles by offering the Lexus to image- and quality-conscious buyers. To reinforce this image, Toyota developed a separate dealer network.
Accounting (Accounting Carl S. Warren) by Carl S. Warren, James M. Reeve, Philip E. Fess