Entrepreneurship Is Not Only A Word Entrepreneur - 1349 Words

In the thirteenth-century, entreprendre, a French verb originated to mean â€Å"to do something† or â€Å"to undertake.† By the sixteenth century the word, entrepreneur formed. The word entrepreneur refers to someone who undertakes a business venture. An entrepreneur is someone that takes risks in developing, managing and organizing a business or enterprise. Every entrepreneur weighs the risks involved against the potential profit to be gained. When they think the gain outweighs the risk they take every opportunity to execute their ideas. Entrepreneurship is a process that develops new ways of combining resources. When a new combination of resources is generated above market value the entrepreneur makes a profit. Many successful entrepreneurs create jobs for the economy, while others may not be so successful because of the huge risks involved. Some risks being capital, time, motivation, and not being able to adapt to change (Sobel, 2008) . Entrepreneurship is not only a word that was formed in the sixteenth century. Entrepreneurship is vastly important to every economy, especially the American economy because these entrepreneurs that create companies increase our economic growth by creating jobs for many people. They are the ones that allow us to buy goods and allow us the opportunity to use many services. Without them, we wouldn’t have most of the stuff we take for granted today. Entrepreneurs expand our ability to generate income which results in a higher living for everyoneShow MoreRelatedIndia s Growth Of The Indian Economy1517 Words   |  7 PagesNow a day’s entrepreneurship is playing an excellent role in boosting up the Indian economy by working as driving force in the market. Many young entrepreneurs are coming forward and setting up their ventures in different parts of India. These initiatives are opening the way for plenty of jobs for the young jobseekers which is prime necessity for the devel opment of any economy like India. (Quote this by current unemployment data). India is recognized as a talent hub in the world which shows thatRead MoreFactors That Can Promote or Hinder Enterpreneurship1492 Words   |  6 PagesLIST AND EXPLAIN FACTORS THAT CAN PROMOTE OR HINDER ENTREPRENEURSHIP. Entrepreneur: An entrepreneur is a person who starts an enterprise. He searches for change and responds to it. A number of definitions have been given of an entrepreneur- The economists view him as a fourth factor of production along with land labour and capital. To put it very simply an entrepreneur is someone who perceives opportunity, organizes resources needed for exploiting that opportunity and exploits it. Computers, mobileRead MoreThe Teachability Dilemma of Entrepreneurship1296 Words   |  6 PagesEntrepreneurs are a very, or perhaps the most, important boost in our economy. They do not only take the risk for the sake of a business, but also they provide our economy with employment opportunities and culture. A society can only be prosperous only when it rewards and encourages entrepreneurial activity because in fact, it is the entrepreneurs and their activities that are the critical factor for success, prosperity, growth and opportunity in any given economy. Entrepreneurship is not easy andRead MoreEntrepreneurship Essay1729 Words   |  7 PagesHill Leitch (2003) the word entrepreneur was derived from the French word ‘entreprendre’ which means to undertake, and the first person who introduced and used the word of ent repreneur was Richard Cantillon (1680-1734), an Irish economist. Cantillon defined entrepreneur as a person with the foresight and confidence to work in conditions when costs may be known, but rewards are uncertain (Bridge, O’Neill Cromie 1998). Therefore, it can be concluded that entrepreneurship demands foresight and willingnessRead MoreEntrepreneurship As An Entrepreneur, Real World Experience Essay1568 Words   |  7 PagesEntrepreneurship is a topic that is heavily debated in regards to if it can be taught or not. The word Entrepreneurship originates from a French word that means to undertake. In the business sense, it is defined in the Merriam-Webster dictionary as one who organizes, manages, and assumes the risks of a business or enterprise. Since entrepreneurship is an appealing career path, people want to know if they can be taught it or if it is something they have intrinsically. The objective of this essayRead MoreWhat does Entrepreneur Means Essay1044 Words   |  5 Pages The word entrepreneur is derived from the French word â€Å"Entreprendre†, which is loosely translated to English as, to mean, to do something or to undertake. Therefore, entrepreneur defined as someone who undertakes a business venture. The first academic to use the word was the economist Richard Cantillon in 1730; Cantillon adds a risk taker element into the definition. The basic definition of an entrepreneur is a person who organizes and manages any enterprise, especially a business, usually withRead MoreSocial Entrepreneurship And Social Innovation1502 Words   |  7 PagesSocial Entrepreneurship The term â€Å"social entrepreneurship† first appeared in the scholarly literature over 35 years ago in a publication titled The Sociology of Social Movements (Banks,1972). However, Social entrepreneurship has its origins in the eighteenth and nineteenth centuries when philanthropic business owners and industrialists like Robert Owen, demonstrated a concern for the welfare of employees by improving their working, schooling and cultural lives. Since then, social entrepreneurshipRead MoreEntrepreneurship Is A Nature Or Nurture Process Essay1468 Words   |  6 PagesEntrepreneurship is a complex field of study in business that sparks much debate. One prominent discussion relates to whether entrepreneurship is a nature or nurture process. In order to answer this question, entrepreneurship must first be defined. As it is a multi-faceted field that spans across a wide range of contexts, there is no agreed definition of entrepreneurship (Schaper, 2014). For the context of this essay , however, it is a process that brings together a team- with a leading entrepreneur-Read MoreEssay on Can Entrepreneurship Improve Africas Wellbeing Development1628 Words   |  7 PagesCan Entrepreneurship Improve Africa’s Wellbeing Development? Introduction Africa is one of the poorest areas in the world. Data shows that in some countries, poverty reaches unbelievable rates and people live with less than $1 a day (Ngwane 2003). In contrast, in some countries like USA bankers and CEOs earn up to 400 million dollars a year in bonuses and salaries (Enron 2005). On the other hand, entrepreneurship has significantly increased developed countries’ wellbeing in the last century. InRead MoreTheories of Entrepreneurship1647 Words   |  7 PagesIntroduction Entrepreneurship is a phenomenon that is driving the world economy today and aptly so because entrepreneurship is the process of creating economic and social value by means of taking risks, creating and exploiting opportunity and generating new ideas. Entrepreneurship is all pervasive and can exist in any industry and market. Also, entrepreneurship is not limited to creating new ventures; entrepreneurship also exists in large corporations like Google and 3M where employees are encouraged

Essay on War on Drugs - 1760 Words

The so-called â€Å"War on Drugs,† as declared by the Nixon administration in the signing of the Comprehensive Drug Abuse Prevention and Control Act of 1970, marked the beginning of the current era of mandatory minimum sentencing, racism, privatized prisons, and a powerful constituency that profits as a result of the prohibition of drugs. Psychoactive substances have been apart of the human experience as long as humans have walked the earth. There is little hope that drug production will ever be curtailed, so long as there is a demand; a demand that has remained steady even though it has been forty years since the beginning of said war. As Judge James P. Gray from the Superior Court of Orange County has so plainly put it: â€Å"Where did this policy†¦show more content†¦One thing that must be made obvious is that the government makes money regardless of the results that they produce. A good majority of the criminal justice system is paid with this budgeted drug money . There has been a historical increase in judges, lawyers, police officers and the creation of entire government organizations that directly make money as a result of the prohibition. It is not only law enforcement side that would like to see prohibition remain intact; it is also the drug dealers that would like the policies to remain as they are. (Harvey) Prohibition causes the handling of drugs to become a risky business and, therefore, drives the prices up astronomically allowing for a business that has a profit in the thousands of percent with no tax. Ricky Ross, the most infamous crack-cocaine dealer in Los Angeles, while being interviewed in jail told the interviewer, â€Å"I became addicted to the money and also the power too I believe† (Booth). These people will have the opportunity to make extraordinary amounts of money so long as current prohibition stays intact. There is clearly something wrong if both the government and drug dealers would both like to see prohibit ion perpetuated. In some cases, it so happens that the government is working both sides of the law. It has been alleged that the CIA, with its support of the Contra resistance group in Nicaragua, has actively participated in the importation of cocaine while being protected from prosecution as aShow MoreRelatedThe War On Drugs And Drugs Essay972 Words   |  4 PagesThe war on drugs have been a critical issue that has repeatedly held a great debate topic. It was in the 1906 when the first act against drug was put into effect with the Pure Food and Drug Act which required all over-the-counter medication to have label of its ingredients. Under President Nixon the first executive branch office to coordinate drug policy was formed and the Comprehensive Drug Abuse Prevention and Control Act was put into place. Two years following that the Drug Enforcement AgencyRead MoreThe American War On Drugs1598 Words   |  7 Pages The American â€Å"War on Drugs† war created to keep an exorbitant amount of people behind bars, and in a subservient status. First, America has a storied history when it comes to marijuana use. However, within the last 50 years legislation pertaining to drug use and punishment has increased significantly. In the modern era, especially hard times have hit minority communities thanks to these drug laws. While being unfairly targeted by drug laws and law enforcement, minorities in America are havingRead More War on Drugs is War on Democracy Essay1286 Words   |  6 Pagestreating marijuana offenders worse than violent criminals. I doubt, however, that many Americans are truly conscious of how some peoples lives have been shattered because of current practices in the so-called drug war. Now, about 15 years since its beginning, the war on drugs has become a war on personal freedom and toes the line of authoritarianism. On the brink of the 21st century, this is not a good sign for preserving our future, nor that of democracy. In 1989, a small business owner andRead MoreThe War On Drug War2268 Words   |  10 Pagespresident nixon, Declared Drug abuse public enemy number one, starting an unprecedented global Campaign, the war on drug. Today the number are in the war on drug is a huge failure with devastated unintended consequences, it lead to mass incarceration in the us, to corruption, to political destabilization, and violence in latin america, asia, and africa. To systemic human right abuse across the world.†-Kurzgesagt – In a Nutshell The drug war is an all out war between drug cartels, and the governmentsRead MoreThe War On Drug War2282 Words   |  10 Pagespresident nixon, Declared Drug abuse public enemy number one, starting an unprecedented global Campaign, the war on drug. Today the number are in the war on drug is a huge failure with devastated unintended consequences, it lead to mass incarceration in the us, to corruption, to political destabilization, and violence in latin america, asia, and africa. To systemic human right abuse across the world.†-Kurzgesagt – In a Nutshell The drug war is an all out war between drug cartels the usa and mexicoRead MoreDrug War2482 Words   |  10 PagesPeriod 8 Drug Policy: A Look at America’s Ineffective Approach to Drugs Introduction In January 2004, senatorial candidate Barack Obama firmly opposed the twenty two-year war on drugs, saying that the United States’ approach in the drug war has been ineffective (Debussman).   Although the term, â€Å"war on drugs,† was originally coined by President Richard Nixon in 1971, it wasn’t until Ronald Reagan announced that â€Å"drugs were menacing society†Read MoreThe War On Drugs And The United States1506 Words   |  7 Pages When, in 1971, Richard Nixon infamously declared a â€Å"war on drugs† it would have been nearly impossible for him to predict the collective sense of disapprobation which would come to accompany the now ubiquitous term. It would have been difficult for him to predict that the drug war would become a hot topic, a highly contentious and polarizing point of debate and, it would have difficult for him to predict that the United States would eventually become the prison capital of the world, incarceratingRead MoreDrugs And Politics : The War On Drugs Essay2157 Words   |  9 PagesDrugs and Politics The war on drugs has been a great tool to keep the force of U.S drug policies’ in Latin America because the prohibition makes the most successful and profitable failure to transnational corporations. Over the course 100 years of repression history of narcotics, it has become apparent that zero tolerance policies have brought nothing than harm to the working class on a Global scale, especially Mexico. The attempt to eradicate trafficking in narcotics in many of the Latin AmericanRead MoreThe War On Drugs And The United States1555 Words   |  7 PagesThe War on Drugs has been an ongoing effect ever since the Civil War introduced the drug morphine to the world. In the years since people have been coming up with drugs more lethal than morphine such as cocaine, methamphetamine, heroin, and so on and so forth. The War on Drugs is dangerous and leads to many deaths throughout the years. America has set up agencies such as the Drug Enforcement Agency (DEA) and other drug task forc e teams throughout the United States. Even though we may not be ableRead More War on Drugs Essay examples1932 Words   |  8 Pageshorror stories about drugs like crack-cocaine. From them, and probably from no other source, we learn that crack is immediately addictive in every case, we learn that it causes corruption, crazed violence, and almost always leads to death. The government tells us that we are busy fighting a war on drugs and so it gives us various iconic models to despise and detest : we learn to stereotype inner-city minorities as being of drug-infested wastelands and we learn to witchhunt drug users within our own

Zeitoun Essay example - 2192 Words

Zeitoun Have you even judged someone on who he or she is or what they looked like? And have you ever had a bad experience or traumatic experience happens and you looked for someone or something to blame, but in reality there was nothing to blame? Well, a natural disaster can be blamed on no one, but in times like that emotions run wild and blame can be put on someone who fits a certain profile. Racism and Hurricane Katrina were two forces that clashed together to create an even bigger problem for the victims. This is caused by an insecurity of the situation at hand. In the book Zeitoun by Dave Eggers, racism and racial profiling is the underlying themes in the story. These themes are also the underlying themes of people who are subjected†¦show more content†¦When the Hurricane was coming his family left for a safer area, but Zeitoun wanted to stay with his house because he worked hard to get where he was. Zeitoun wanted to try to protect his house in anyway possible. After all the damage was done and New Orleans was submerged in water and nearly completely destroyed, Abdulrahman Zeitoun was asked by his wife to leave the area and go to a safer place. But Zeitoun being the person he is, decided to stay and to help out anyway possible. He canoed around helping those who needed it. When Zietoun was at his house after the hurricane and after he had helped all the people that he could help in the town, he decided that is was time for him to also leave the city. Zeitoun was confronted by National guardsmen and taken to a make shift military base. The entire ride he was treaded poorly, handcuffed, and pushed around. When he arrived at the Union passenger station used as a jail, he was told that he was Al-Qaeda and that’s why he was taken. The national guardsmen saw that Zeitoun was of a Middle Eastern culture and took him. There, Zeitoun was experiencing racism without even knowing it. Zeitoun was stripped searched and rectum searched, called racial slurs and treated poorly, but Zeitoun tried to look at the situation as mandatory protocol and not a racial discrimination. The place he was at was given the name â€Å"Camp Greyhound†. At this camp there wasn’t just racistShow MoreRelatedAnalysis Of The Book Zeitoun By Dave Eggers988 Words   |à ‚  4 Pagessummer assignment, we were assigned to read Zeitoun by Dave Eggers, which recounts the story of a Muslim-American man named Abdulrahman Zeitoun who remained in New Orleans during 2005’s deadly Hurricane Katrina. While trapped in the city, Zeitoun paddles in his canoe in the flooded streets aiding those who are in danger; however, Zeitoun is suddenly arrested under accusations of being affiliated with an Al-Qaeda Terrorist Cell. Throughout the novel, Zeitoun is portrayed as a gentle and compassionateRead MoreZeitoun, By Dave Eggers1699 Words   |  7 Pages In the novel, Zeitoun by Dave Eggers, the main character, Abdulrahman Zeitoun, is an immigrant of Syria who stays in New Orleans after Hurricane Katrina and is arrested due to the suspicion of looting, but really is arrested because of his race and how he looks. Zeitoun’s faith and loyalty to his community and home is tested through the many obstacles of Hurricane Katrina and including his religion, racism, and his very own dignity. The author, Dave Eggers who is also the speaker in novel, provesRead MoreZeitoun Essay example973 Words   |  4 PagesTG 1 Valeria Franco April 1, 2011 English 28 Zeitoun Essay Zeitoun By: Dave Eggers After September 11, 2001 I’ve had trouble finding what makes me more angry; the way the authorities handled the hurricane of Katrina or the way the Arabs were treated. I have herd countless stories related to the 9/11 attack and until today I see the way that has affected the lives of many. Through Eggers story, I was able to comprehend more about the tragedy in New Orleans and even though I thought I alreadyRead MoreAnalysis Of The Book Zeitoun By Dave Eggers978 Words   |  4 Pagesassignment, we were assigned to read Zeitoun by Dave Eggers, which recounts the true story of a Muslim-American man named Abdulrahman Zeitoun who remained in New Orleans during 2005’s deadly Hurricane Katrina. While trapped in the city, Zeitoun paddles in his canoe in the flooded streets coming to the aid of those who are in danger; however, Zeitoun is arrested under accusations of being affiliated with an Al-Qaeda Terrorist Cell. Throughout the novel, Zeitoun is portrayed as a gentle an d compassionateRead MoreThe Destruction Of Dignity By Dave Eggers1757 Words   |  8 Pages, Dave Eggers, in his riveting novel Zeitoun retells the story of a New Orleans painter as he finds himself in the city following Hurricane Katrina. Throughout his harrowing journey throughout the aftermath, Eggers exhibits the horrifying results a disaster can have on the dignity of victims. There are countless examples throughout the novel of those who have been dispossessed of their dignity and humanity, and there is no better example than that of Zeitoun himself. Egger’s portrayal of the aftermathRead MoreThe Mistreatment Of The Zeitoun Family1493 Words   |  6 Pages Renowned journalist and author, Dave Eggers, in his famed novel, Zeitoun, recounts the mistreatment of the Zeitoun family in the aftermath of Hurricane Katrina based on their racial and religious profiles in a post-9/11 America. His purpose is to reveal the unwarranted injustices faced by Muslim-American Hurricane K atrina victims through a description of the Zeitoun family’s experiences, in order to educate his readers of the impact discrimination has on emergency response. Eggers adopts a sympatheticRead MoreZeitoun Fight or Flight795 Words   |  3 Pagesit worth risking your life to protect your belongings and property when a Category 5 hurricane is barreling towards your city? Is it right to disregard reports about a storm because in past experiences the news has been wrong? In Zeitoun by Dave Eggers, a man named Zeitoun decides to let his family evacuate New Orleans without him so that he can stay behind and protect his several homes, business, and personal belongings from Category 5 hurricane Katrina. Once the hurricane passes, and he survivesRead MoreZeitoun Rhetorical Essay1440 Words   |  6 Pagesin Zeitoun, shows a story of a Muslim American family living through many challenges. After 9/11 Muslim families, like the Zeitouns, face many problems living in America. Eggers wan ts to inform other Americans on the situation of Muslim living in the United States, present day. People who are uneducated about the Muslim religion need to be informed on how similar lives are of other people all around the United States. These people throw out stereotypes and aim judgments wrongly at the Zeitoun familyRead MoreKaren Eggers s Zeitoun Essay938 Words   |  4 PagesKimberley A. Turner Elizabeth Miossec-Backer WR 121 19 October 2016 ZEITOUN-KATHY In Dave Eggers nonfiction novel Zeitoun, Kathy is an American woman who converts from Christianity to Islam before marrying her Syrian-born Muslim husband, Abdulrahman Zeitoun. Together, they have three daughters and own and operate a painting company in New Orleans. In her earlier years, Kathy found herself divorced with an infant son working fifty hours a week. â€Å"†¦.her life was a struggle, and she was looking forRead MoreSummary Of Dave Eggers s Zeitoun 1028 Words   |  5 PagesDave Eggers, addresses the endeavors of Zeitoun during and after Hurricane Katrina in his book â€Å"Zeitoun.† His goal is to educate the audience about the prejudices and troubles experienced during the disaster. A formal, yet sympathetic tone is used in the book to not only inform the audience about the hardships experienced by Zeitoun, but to also encourage sympathy among the audience. One struggle he focuses on is Islamophobia and how it negatively affects Zeitoun and his family. He shows this through

Percentage of completion method vs completed

Percentage of completion method vs completed-contract method Essay â€Å"Is it more appropriate to use the percentage-of-completion method or the completed-contract method for acknowledging gross of long-run building contracts? † Draft Paper for DFST3341 Fiscal Accounting Bachelor of Applied Business Administration – Accounting Bachelor of Applied Business Administration – Accounting February 4, 2014 Executive Summary Many concerns are concerned with how to enter their grosss and disbursals in order to maximising their benefits while minimising their revenue enhancements lawfully. The inquiry associating to revenue enhancements is frequently asked by many little businesses’ proprietors. However, another every bit of import issue that little concern proprietors might frequently bury is their accounting income which can be every bit of import. Many little concerns might be invariably looking for the extra loans to fund their ongoing undertakings. Therefore, fiscal establishments and prospected investors might be inquiring if the concern can manage excess loans or take on the new proposed undertakings. For the intent of this paper, we will be analyzing little place builders who have been entering their contracted undertakings by utilizing the completed method to find if it is more appropriate to utilize the per centum of the completed method. The immediate impact of the different methods of gross acknowledgment will hold direct impact on the fiscal statements. Therefore, we will be utilizing the illustration from John-of-all-trades edifice corporation to establish our findings if the company should be taking one method over the other. We may happen that depending on the assorted demands of the concern, one method might be more appropriate than the other depending on the coveted Numberss that a concern proprietor wants to hold on the fiscal statement that will be fulfilling the alone demands of a company. The Percentage of completion method versus the Completed contract method A comparing of the two different accounting methods will enable us to hold a better apprehension of the advantages and disadvantages in term of fiscal and non-financial factors. The per centum of completion method The percentage-of-completion method recognizes income as work on a contract ( or a group of closely related contracts ) progresses. The acknowledgment of grosss and net incomes is by and large related to costs incurred in supplying the services required under the contract. Under this method, work-in-progress ( WIP ) is accumulated in the accounting records. At any point in clip if the cumulative Billingss to day of the month under the contract exceed the sum of the WIP plus the part of the contract’s estimated gross net income attributable to that WIP, so the contractor recognizes a current liability captioned â€Å"billing in surplus of costs and estimated earnings† . The liability recognizes the staying duty of the contractor to finish extra work prior to acknowledging the extra charge as gross. If the contrary is true, that is, the accrued WIP and gross net income earned exceed Billingss to day of the month, so the contractor recognizes a current assets captioned â€Å"cost and estimated net incomes in surplus of billings.† This plus represents the part of the contractor’s grosss under the contract that have been earned but non yet billed under the contract commissariats. The percentage-of-completion method recognizes the gross over clip as building progresses to capture the ‘earned’ gross and fit it with the incurred disbursal. The contractor has the duty to execute the work and the purchaser has the duty to pay the contractor throughout different completed phases of the undertaking. Harmonizing to the article Overview of the Percentage of Completion method, this method works best when it is moderately possible to gauge the phases of undertaking completion and the staying costs. This method will non be favorable when there are excessively much uncertainnesss about the per centum of completion and the contractor is unable to gauge the minimal entire gross and maximal entire cost to get at the contract command. .uc4d980403d80d5c5e2464f15facc5a4a , .uc4d980403d80d5c5e2464f15facc5a4a .postImageUrl , .uc4d980403d80d5c5e2464f15facc5a4a .centered-text-area { min-height: 80px; position: relative; } .uc4d980403d80d5c5e2464f15facc5a4a , .uc4d980403d80d5c5e2464f15facc5a4a:hover , .uc4d980403d80d5c5e2464f15facc5a4a:visited , .uc4d980403d80d5c5e2464f15facc5a4a:active { border:0!important; } .uc4d980403d80d5c5e2464f15facc5a4a .clearfix:after { content: ""; display: table; clear: both; } .uc4d980403d80d5c5e2464f15facc5a4a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc4d980403d80d5c5e2464f15facc5a4a:active , .uc4d980403d80d5c5e2464f15facc5a4a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc4d980403d80d5c5e2464f15facc5a4a .centered-text-area { width: 100%; position: relative ; } .uc4d980403d80d5c5e2464f15facc5a4a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc4d980403d80d5c5e2464f15facc5a4a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc4d980403d80d5c5e2464f15facc5a4a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc4d980403d80d5c5e2464f15facc5a4a:hover .ctaButton { background-color: #34495E!important; } .uc4d980403d80d5c5e2464f15facc5a4a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc4d980403d80d5c5e2464f15facc5a4a .uc4d980403d80d5c5e2464f15facc5a4a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc4d980403d80d5c5e2464f15facc5a4a:after { content: ""; display: block; clear: both; } READ: Criminology EssayThe advantages for the contractor would be a lessening in bad debt, gross received sooner which improves the hard currency flow for the concern which could take to a possible decrease in involvement disbursal, and an addition in motive to finish the undertaking harmonizing to the jutting clip frame. The disadvantage for the contractor would be an addition in administrating cost to publish estimations of completed phases of the undertaking, an addition in labor for publishing bills and roll uping grosss. The disadvantage for the purchaser would be an addition in hard currency out flow than the completed accounting method. The completed-contract method The completed-contract method recognizes incomes merely when the contract is complete, or well complete. Under this method, contract costs and related Billingss are accumulated in the accounting records and reported as recesss points on the statement of fiscal place until the undertaking is complete or well complete. A contract is regarded as well complete if staying costs of completion are immaterial. When the accumulated costs ( WIP ) exceed the related Billingss, the surplus is presented as a current plus ( inventory history ) . If Billingss exceed related costs, the difference is presented by current liability. The finding is besides made on a project-by-project footing with the accrued assets and liabilities being individually stated on the statement of fiscal place. An surplus of accrued Billingss over related costs is presented in most instances as a current liability. The completed contract method is a deferral method of acknowledging the ‘earned’ gross and ‘realized’ disbursals. The completed contract method will acknowledge the WIP as a current plus point while the surplus of charge will be categorized as current liability. The disadvantages for the contractor would be a lessening in hard currency flow due to concluding payment will be received one time the whole undertaking is completed. Therefore, an addition in involvement disbursal would be realized due to the limited of hard currency influxs. Is it more appropriate to use the per centum of completion than the completed contract method? These undermentioned factors that should be considered before choosing the accounting method for acknowledging the gross of the building undertakings: The possibility of uncertainnesss that associated with the staying costs of the undertakings Are there possible conditions that might forestall the enforcement of a undertaking due to related belongingss being expropriated? When contracts are short-run in nature that the consequences reported differ between the two methods are immaterial. The delaying in acknowledging grosss will let a concern to postpone the acknowledgment of related income revenue enhancements. There is a demand for obtaining extra support as working capital for enlargement in the following few old ages There is an outlook of loss before the undertaking is completed Harmonizing to the article of Overview of the Completed Contract method and the Percentage of completion method, the writer identifies the appropriate state of affairss that will promote the choice of one method over the other. By traveling through each factor, a company can find the demands of the presentation of the fiscal statements to reflect the gross recognized. Because of the different intervention of the earned gross, one company may take the per centum of completion because of the demands in more frequent hard currency flows to cover disbursals that the company does non hold adequate hard currency to cover. Besides, another cardinal factor that will promote a concern to take the per centum of completion is the ability to anticipate the instability in the economic system ; hence, enabling the estimations of concluding costs for the undertaking prior to the company’s rivals. Decision Mentions: 1 ) www.accounting tools.com/percentage-of-completion-method 2 ) Lamoreaux, M. G. ( 2012 ) . A new system for acknowledging gross: larn how the new theoretical account in FASB s revised proposal could impact your concern.Journal of Accountability, 1-30. .udc2d68da30198636d83a3aa2dab5c164 , .udc2d68da30198636d83a3aa2dab5c164 .postImageUrl , .udc2d68da30198636d83a3aa2dab5c164 .centered-text-area { min-height: 80px; position: relative; } .udc2d68da30198636d83a3aa2dab5c164 , .udc2d68da30198636d83a3aa2dab5c164:hover , .udc2d68da30198636d83a3aa2dab5c164:visited , .udc2d68da30198636d83a3aa2dab5c164:active { border:0!important; } .udc2d68da30198636d83a3aa2dab5c164 .clearfix:after { content: ""; display: table; clear: both; } .udc2d68da30198636d83a3aa2dab5c164 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .udc2d68da30198636d83a3aa2dab5c164:active , .udc2d68da30198636d83a3aa2dab5c164:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .udc2d68da30198636d83a3aa2dab5c164 .centered-text-area { width: 100%; position: relative ; } .udc2d68da30198636d83a3aa2dab5c164 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .udc2d68da30198636d83a3aa2dab5c164 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .udc2d68da30198636d83a3aa2dab5c164 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .udc2d68da30198636d83a3aa2dab5c164:hover .ctaButton { background-color: #34495E!important; } .udc2d68da30198636d83a3aa2dab5c164 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .udc2d68da30198636d83a3aa2dab5c164 .udc2d68da30198636d83a3aa2dab5c164-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .udc2d68da30198636d83a3aa2dab5c164:after { content: ""; display: block; clear: both; } READ: Walmart Essay3 ) McKee, T. E. ( 2013 ) . Using larning curves for Revenue Recognition: how to use a different attack under FA SB s proposed criterion.The CPA Journal, 1-60. 4 ) Spector, S. ( 2012 ) . Revenue Recognition: Take Three.CGA Magazines, 44-45. 5 ) Spector, S. ( 2013 ) . A joint IASB/FASB gross theoretical account is on the skyline.CGA Magazine, 42-43. 6 ) Rashty, J. , A ; OShaughnessy, J. ( 2011 ) . Accounting for Deferred Revenue Liabilities in Post-Business Combination Statements. CPA Journal, 81 ( 4 ) , 30-33. 7 ) Culp, William R. , ,Jr, A ; Richardson, M. L. ( 2006 ) . CAN COMPLETED CONTRACT ACCOUNTING METHOD BE USED BY LOT DEVELOPERS WHO DO NOT BUILD HOMES?Journal of Taxation,105( 6 ) , 342-348. Retrieved from hypertext transfer protocol: //search.proquest.com.libezproxy.nait.ca/docview/198106842? accountid=12654 8 ) Brady, R. , A ; Triplett, L. ( 2011, October ) . Revenue acknowledgment: remark letters help determine future counsel.Financial Executive,27( 8 ) , 30+ . Retrieved from hypertext transfer protocol: //go.galegroup.com.libezproxy.nait.ca/ps/i.do? id=GALE|A270733460 A ; v=2.1 A ; u=naitl_main A ; it=r A ; p=AONE A ; sw=w A ; asid=c3da09f0219b502c098e26ad463dce28 9 ) www.irs.gov./small-businesses- % 26-self-emloyed/accounting-for-construction-contracts-construction-tax-tips 10 ) Wiley GAAP 2012 pages 359