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Miloaga Carmen

Anul III Management

Restanta Engleza afacerilor

I have a plan to researched an idea and after I want to prepare a business plan that documents the
viability of a new business, but I admit that I am not comfortable with matters of accounting.So, I
want to meet a professional accountant before making his selection.My friend Ana recommended
me a professional accountant who is also skilled in explaining accounting to someone without an
accounting background.When we first meet , I asked her for an overview of accounting, financial
statements, and the need for accounting software . And I discovered that the accounting software
allow for the electronic recording, storing, and retrieval of those many transactions. Accounting
software will permit to generate the financial statements and other reports that I will need for
running his business.
Also, she has explained the content and purpose of the three main financial statements:

1. Income Statement
2. Balance Sheet
3. Statement of Cash Flows
I found that an income statement will show how profitable Direct Delivery has been during the
time interval shown in the statement's heading.
The reporting of profitability involves two things: the amount that was earned (revenues) and the
expenses necessary to earn the revenues.The term of revenues is not the same as receipts, and the
term expenses involves more than just writing a check to pay a bill .Under the accrual basis of
accounting, revenues are recorded when they are earned, not when the company receives the
money. Recording revenues when they are earned is the result of one of the basic accounting
principles known as the revenue recognition principle.
I didn't the understand the income statement, I think is a bit more complicated for me that I want
to learn only some basic accounting concepts and some of the accounting terminology.
I have understand one simple yet important point: an income statement, does not report the cash
coming inrather, its purpose is to:
-report the revenues earned by the company's efforts during the period
-report the expenses incurred by the company during the same period. The purpose of the income
statement is to show a company's profitability during a specific period of time .I have learned the
the balance sheet, a financial statement that reports the amount of a company's, assets, liabilities,
and stockholders' (or owner's) equity at a specific point in time. The balance sheet reflects a
specific point in time rather than a period of time.
The statement of cash flows is the record of all transactions processed by the bank in my account in
my name in the previous statement. It shows exactly what happened in my account and allows I can
if my bank has properly registered of my transactions.
The statement of cash flows shows when and for what amount:
- You issued a check
- I have withdrawn money from the ATM
- I paid bills by debit or direct debit order
My account statement also includes payments made to my account. These payments can be salary,
various benefits, cash deposits.
Besides all this, I had the opportunity to learn about the differences in costs like the cost of the
goods sold, cost of the purcase, cost of inventories, cost of disposal and many other cost.
To open this business, I thought that at one point I would need to access a bank credit for its
development, so I took the opportunity and documented the types of interest
Interest accrued is calculated by applying the interest rate to the amount of the initial deposited
capital and interest earned for the prior period.
Fixed interest is the one that remains unchanged throughout the contract.
After learning all these essential accounting elements at the beginning of a business, I thought I had
to find out some ideas about human resources management so now I know that the human resources
management is the process by which employees achieve the desired level of satisfaction, and the
organizations to which they belong achieve their goals by harmonizing four elements:the
organization, the item,the employee, the environment.
The environment has four components:
The economic component (the number and competitive force of organizations, unemployment rates,
interest rates, inflation, etc.)
The social component (the values and attitudes of clients and employees in terms of work, products,
business, skills and educational level, their expectations)
The political component (laws and regulations)
The technological component (raw materials, technology)
The organization must ensure, through its characteristics, the satisfaction and performance of its
employees.These features are:size, structure, the technology, culture
The item represents all the tasks and activities of an employee. Job features influence employee
performance and satisfaction. These features are:degree of difficulty, variety, the autonomy they
offer to their employees
The employee brings within his organization a set of characteristics. The good performance of an
employee in a particular job depends on:skills, knowledge, personality, stock, expectations.
At the end of this documentary I feel that I have accumulated enough information to help me
develop a buissnes plan but also information that will help me better understand the world I live in.

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