Though accounting is described as the language of business” at its core accounting is primarily based upon a single equation referred to as the Accounting Equation.
Two elements that were not too long ago decentralized to regional government units are organizing and purpose setting. These two regions have usually been subjected to the city and municipal government manage and the LGUs have a small say about it. With the current alter in governance, the LGUs have now been given the free hand to pursue their own development plans.
The periodicity assumption is important to the practice of reporting earnings in a timely manner. It is assumed the company will continue indefinitely, so in order for earnings to be reported for a provided time-frame, the concept of periodicity is necessary. In basic terms, it is critical to know how the enterprise is doing from time to time, over the course of its presumed indefinite life.
Local/Regional firms have amazing flexibility for team members. More than the final 17+ years, I’ve worked a FlexLife schedule to let me to be a homeroom parent, volunteer at my little ones school, coach soccer teams, and care for my grandparents. I’ve continued to advance and take advantages of opportunities within the firm with the support and mentoring of the partners. You will events that occur in your life that effect your priorities. A flexible firm will aid you navigate through those alterations.