W2 Questions Assignment Example | Topics and Well Written Essays - 250 words

W2 Questions - Assignment Example In an accrual based double entry system, every transaction has both a debit and a credit in the books of accounts. The three major divisions in the accounting field are (1) Financial Accounting (2) Management Accounting and (3) Tax Accounting. Financial accounting relates to a description and classification of accounts into assets, liabilities, capital, revenues and expenses and their summarization on the Income Statement and Balance Sheet. Management accounting deals with the development or interpretation of accounting information to aid management in making decisions that help in running the business. Tax accounting deals with determining the tax effects of transactions, preparation and filing of tax returns in conformity with the applicable tax laws and procedures. The purpose of a balance sheet is to show the financial position of a business enterprise on a specific date, usually the end of the year. Accounts are typically classified as belonging either to the income statement or the balance sheet. Usual balance sheet accounts are assets such as Cash, liabilities such as Accounts Payable and owner’s equity such as the Capital account. The purpose of an income statement is to determine whether the business made a profit or loss from its operations over the period, usually a year. Both the income statement and the balance sheet are prepared at the end of the financial year. Usual income statement accounts are revenues such as Sales and expenses such as Advertising Expense. The statement of cash flows shows how the cash in a business was generated and how it was spent over the financial year. This can be the result of operating, investing and financing activities. Some examples of typical cash flow accounts are Depreciation, Interest and Dividends Received and Cash Paid for Interest and Income Taxes. 7. Based on the financial information below, prepare an income statement and a balance sheet for Joe’s-Fly-by-Night Oil Company for the year ended

Art History - Russian Impressionism Essay Example | Topics and Well Written Essays - 1750 words

Art History - Russian Impressionism - Essay Example The essay "Art History: Russian Impressionism" discovers the history of Russian Impressionism. It is important to note that very little is studied in Russia about the Russian Impressionism. The same case applies in other countries abroad. In the early twentieth century and the in the last third of the nineteenth century, a period of Impressionism was witnessed in a number of Western countries just like other forms of art movements like Expressionism and Classicism. Various versions of the Impressionism movement existed in different countries as each country came up with its own version. The Impressionism movement traversed worldwide as it pervaded all forms of music, theatre, literature and fine art influencing world philosophies and the vision of people of the world. It is significant to note that the Impressionism movement was against academism. This was informed by the belief by the Impressionists who affirmed that the everyday reality characterized by aesthetic value and beauty t hat was rich in colors and its continued change of state was more significant than academism. The impressionist artists rejected social criticism, plot and narrative. The impressionist artists captured all events in their observant and refined eyes. Their observant and refined eyes took note of anything in the society that was characteristic and unique in the flow of life that was uninterrupted in the transient moments. The Impressionist artists developed their own system of painting that was unique.