Principles of Flight

Classified in Economy

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-(mangment accounting)the application of principles of accounting and fincial mangment to creat protect presve and increase value so as to deliver that value to stakholders of profit note for profit enterprises both piblice and privat.

(balance sheet) about shows the finanical position at a point in time in time  as one accounting peroid ends and another one starts .The maine elements of the balancee shets are assets ,liblities and equity.

(budget) is a financial plan it can be seen as a statement of finacial effect expected from the resourse conversion process that the business has plannes.

(globalization)//it is an extesion of internationlization in the sense that most appects of the production or service are performerd  and intregrated across many global locations it is also the expansion of ecnomic actives across political boundaries of national states . It is refers to process of increasing economic integration between countntries in the world economy. It is associated not only with phenomenal spread and voulme of cross-which straddles national boundaries,This process is driven by the lure of profit and the threat of competition  in the market.

ADVAnTGEES :1-glonzlation generates wealth, goods and services which are availbale to a greater percentage of the world.//2-it givees rise to economies of scale ,the more you produce the cheaper it becomes.//3-business are butter able to seek out low-cost producers and move the manufacture of goods and the provision of seevices in more competitive prices.//4-it facilitates growth in communications,the internate and email and telvision and satellite.

disadvantages: 1-the new technologies and access yo communications may not benefit all in that they creat social ecnomic desires which cannot be met within all societes. 2-the vast majority of the world's populations may not be able to purchase these consumer goods, even at the lower prices.

  FINACIAL ACCOUNTING://the classifiction and recording of the monetary transctions of an entity in accordance with established concepts , principles,accounting standerds and legal requirments and their presntation by means of profit and loss accounts, balance sheets and cash flow statments,during and at the end of an accounting period.

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