Financial Accounting Reports Essay Example | Topics and Well Written Essays - 1000 words

Financial Accounting Reports - Essay Example Financial accounting as a process mainly produces three types of reports: These statements are produced according to the Generally Accepted Accounting Principles (GAAP) either quarterly or annually. As aforementioned, these statements are meant for parties outside the firm and these include investors, regulators, creditors, and tax authorities. In different places of the world, there are different designations for the financial accounting practice such as the CPA (Certified Public Accountant) in the US, and the Chartered Accountant in the UK. Krantz (2012) gives an analysis of the importance of financial reports to investors by emphasizing on the importance of knowing what one is looking for in these reports lest one gets totally lost. A company can release a wide range of reports from quarterly to annual reports. Krantz argues that the reason why it is important for an investor to scrutinize these statements is because they are the most critical sources of information that can be gotten by an investor from a company. Reading these reports makes an investor have a grip of the proceedings of the organisation in which they have entrusted their money. Another party to which these statements are important to is the tax authorities. Since these statements declare the financial position of the organisation, they are important to tax authorities since they assist the authorities to make sure that taxes that have been paid are accurate and that the company has met its total tax liability. The process of preparation of audits is regulated by many laws and regulations which vary from country to country. The laws and regulations that affect an entity determine numerous factors one being the amount reported and the disclosed by an organization in its financial statements. There are other laws and regulations that organizations are supposed to comply with or use as the basis of setting provisions within which the firm are to carry on with their

A Look into A Forum of Ice and Fire Research Paper

A Look into A Forum of Ice and Fire - Research Paper Example Getting online forum members to contribute regularly occurs through motivating them to do so, as well as offering them rewards (Howard, 2010). Fans of both A Song of Ice and Fire and Game of Thrones have several motivational factors that encourage them to contribute on the online Forum of Ice and Fire. Such motivations include seeking to build a reputation and gain status in the community, create connections with other members who have similar interests, to make sense and gain understanding of the series, to exchange information, and to entertain and receive entertainment. The main motivation for members of the forum to contribute, therefore, is their interest in the series and books and wanting to connect with fellow fans in order to feel validated and valued. Fans of a Forum of Ice and Fire continue to contribute to the forum because it allows them to build a reputation or gain status within the community. One of the biggest motivators in life is to gain social recognition, which brings instant approval and gratification (Kraut, Resnick, & Kiesler, 2011). Unlike the real world where people with expertise are more likely to be identified where information on a specific topic is required, the forum enables participants to display expertise in a mythical subject matter. By contributing to the forum, it is possible for a fan to establish himself/herself as an expert or authority on the subject of Westeroos politics, for example. For prospective authors or political commentators, on the other hand, such a forum will become a place for them to hone and highlight their skills. Since the tasks involved in the forum are tailored for the participants, they are motivated to continue contributing as their views add value to the forum in their name. These fans can create a positive reputation that they feel can be transferred to the real world if other fans appreciate them.