Application of Financial Statement Assignment Example | Topics and Well Written Essays - 750 words

Application of Financial Statement - Assignment Example Thus, in everyday life, the Income statement can be quickly and easily drawn up to show whether a person is generating positive income or a loss. If the person is incurring a loss, the income statement shows why this is so by providing a breakup of the expenses incurred. The individual can then know which expense is larger than the others and which expense can be easily controlled (Fridson & à lvarez, 2002). For instance, certain expenses such as house rent, fuel, heating and lighting of the house maybe unavoidable, but certain expenses such as food items may be controllable. The purpose of this statement in everyday life is to ensure better control over expenses and how to economize on these expenses in order to generate sufficient income. The concept of â€Å"sufficient† income again varies from individual to individual so there is no such concept of a perfect income or desirable income. However, the idea is to prevent individuals from going into a loss by allowing them be tter control over their expenses and inducing them to save rather than spend. In a business setting, the income statement simply draws a comparison between revenues and expenses, showing which is higher. The usefulness of an income statement for business managers is not limited to the numbers per se. Ratios calculated by using these numbers provide more useful information for decision making. The income statement, to this end, provides a quick assessment of the firm’s overall risk from operations, profitability and flexibility of its operations. For instance, the Return on Investment is calculated partially by using the income statement and partially by the balance sheet. The Gross and Net Income figure provided by Income Statement is used in a lot of other ratios, such as Gross Profit Margin, Net Profit Margin, Return on Assets, and Return on Equity etc. The Gross Profit Margin is simply found by dividing gross profit by sales, which indicates how much profit is earned per  dollar of sales, taking the cost of goods sold into account (Wild, 2006).  

Supporting childrens learning through the curriculum Essay

Supporting childrens learning through the curriculum - Essay Example at many years ago, leaders upholding the significance of education professed that its takes a universe to make a child and a community to educate them. Heaving context from this agenda, leaders of educational institutions weave collaborative partnership with governments, civil society, parents and of the community as multi-stakeholders in upholding the right of children for quality education. This is because much of a nation’s future rest on the children of today. Thus, by assuming accountability for academic excellence and effective integrated services for children, stakeholders must therefore capture a single comprehensive practice for children’s education and other related interventions that could motivate them to continually attend schools. Miller, Cable, and Goodliff (2009) posit that this millennium will be the most complex and challenging epoch of their profession amid interrelated changes within the social, political, technological, employment patterns, and the impacts of these to school children (p. 1). Due to this, governments are propelled to develop framework and programs to ascertain that needs, problems, and challenges are met adequately. Britain, for instance, established Foundation Stage for early education with integrated plans as schools remodel its system into an Excellence Centers; development of family-friendly workplaces; introduction of Early Years Development and Childcare Partnership; and development of Sure Mart for children beneath four years old (Miller et al., 2009, p. 2). Britain has also developed Qualifications and Curriculum Authority in England inclusive of vocational, occupational and higher level qualifications (Miller et al., 2009, p. 2; Qualifications and Curriculum Authority, 1999). A ccreditations were undertaken under this framework. These demand new roles, accountabilities and opportunities for practitioners taking care for early child education which is prominently tagged by professionals as the most gendered job