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Lecture Documents Accounting - Corporate Environment

Lecture Documents Accounting - Corporate Environment
Course

Intro To Accounting (AC 210)

316 Documents
Students shared 316 documents in this course
Academic year: 2021/2022
Uploaded by:
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This document has been uploaded by a student, just like you, who decided to remain anonymous.
University of Alabama

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CORPORATE ENVIRONMENT

In general, a business is an organization with basic resources (inputs), such as raw materials and labor, combined and processed to provide goods or services (outputs) to customers. Companies can take the form of small to large-scale businesses, from roadside coffee shops to Indofood which produces a wide variety of food products. A company's customer is an individual or other company that provides goods or services in exchange for money or other valuables. On the contrary, mosques and churches are not companies because the recipients of their services do not have the obligation to pay for the services received. Whatever the characteristics of the company, to be able to live and stay afloat in the long term every company must have the products that society needs. A product is something produced by a company to sell to the public as a source of income for the company. In order to produce a particular product, each company must have a variety of resources needed to produce that product which includes land, machinery, labor, capital, raw materials, and so on. Without having resources and products, an organization cannot be called an enterprise. Because a company is an organization where resources such as raw materials and labor are processed to produce goods or services for customers. The goal of most companies is to maximize profits (profit). Profit or profit (profit) is the difference between the money received from customers for goods or services produced, and the costs incurred for inputs used to produce goods or services. There are also companies that operate with goals other than maximizing profits. Non–profit companies

(non-profit) aim to provide benefits to society, such as conducting research in the field of health or also the protection of Natural Resources. Another example is a government agency that operates a water management or sewage treatment plant with the aim of not making a profit (non-profit). To be able to create wealth as the goal of its establishment, the company must carry out three main activities, namely: 1. Designing products (goods or services) in accordance with the needs of consumers; 2. Make the product cost effective; 3. Market products effectively to consumers. Two of the three activities that a company must do in order to achieve its goals are designing and marketing products. These products can be non- physical products, ready-made finished goods, or raw materials that must be processed further. In view of the business fields involved and the products produced, in general, companies can be divided into 3, namely: service companies, trading companies, and manufacturing companies. Service companies service companies are companies whose products are something that is non- physical. Examples include transport companies, tourist agencies, cinemas, consultants, accounting firms, laundries, barber shops and so on. Transportation companies do not sell the vehicles they use to consumers, but use them to transport people or goods from one place to another. The tourist bureau does not sell tourist attractions to its customers, but takes its customers to enjoy a particular attraction. Cinemas do not sell rolls of film or CD to its audience, but provide an experience to enjoy the story presented in a particular film. The consulting firm does not sell its employees to customers, but provides various business advice such as marketing advice, financial advice, technical advice to its clients. That's

company can obtain them from the owners in the form of capital deposits or loans from creditors. As for obtaining raw materials to be processed or trade goods to be sold, the company can obtain them from the manufacturer of these materials or from suppliers of materials or trade goods. If Haan company's products have been sold to the public, then the company will obtain operating profit. Such business profits must be reported to the government to be subject to income tax, and to the owner to find out which part of the profit the owner is entitled to. To creditors should also be reported how a company manages the money that creditors have lent. The company must also inform about its financial performance as well as its impact in the event of demands for wage increases to the Union. The company also needs to provide information about the prospects for the future development of the company to potential investors. Display viewer 1 is a person or institution that has a direct interest in the company.

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Lecture Documents Accounting - Corporate Environment

Course: Intro To Accounting (AC 210)

316 Documents
Students shared 316 documents in this course

University: University of Alabama

Was this document helpful?
CORPORATE ENVIRONMENT
In general, a business is an organization with basic resources (inputs), such as raw
materials and labor, combined and processed to provide goods or services
(outputs) to customers. Companies can take the form of small to large-scale
businesses, from roadside coffee shops to Indofood which produces a wide variety
of food products. A company's customer is an individual or other company that
provides goods or services in exchange for money or other valuables. On the
contrary, mosques and churches are not companies because the recipients of their
services do not have the obligation to pay for the services received. Whatever the
characteristics of the company, to be able to live and stay afloat in the long term
every company must have the products that society needs. A product is something
produced by a company to sell to the public as a source of income for the
company. In order to produce a particular product, each company must have a
variety of resources needed to produce that product which includes land,
machinery, labor, capital, raw materials, and so on. Without having resources and
products, an organization cannot be called an enterprise. Because a company is an
organization where resources such as raw materials and labor are processed to
produce goods or services for customers. The goal of most companies is to
maximize profits (profit). Profit or profit (profit) is the difference between the
money received from customers for goods or services produced, and the costs
incurred for inputs used to produce goods or services. There are also companies
that operate with goals other than maximizing profits. Non–profit companies

Students also viewed

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