Maths Words Problems

Today i write an article about maths words problems....
Mathematicians decided long ago to conserve on words and
explanations and replace them with symbols and single letters.

The only problem is that a completely different language
was created, and you need to know how to translate from
the cryptic language of symbols into the language
of words. The operations have designations such as +, –, ×, and ÷.
Algebraic equations use letters and arrangements of those letters and numbers
to express relationships between different symbols.

Words used in maths are very precise. The words have the same meaning
no matter who’s doing the reading of a problem or when it’s being
done. These precise designations may seem restrictive, but being strict is
necessary — you want to be able to count on a mathematical equation or
expression meaning the same thing each time you use it.

For example, in maths, the word rational refers to a type of number or
function. A person is rational if he acts in a controlled, logical way. A number
is rational if it acts in a controlled, structured way. If you use the word rational
to describe a number, and if the person you’re talking to also knows
what a rational number is, then you don’t have to go into a long, drawn-out
explanation about what you mean. You’re both talking in the same language,
so to speak.

Defining types of words that used for numbers
(maths words problems) Naming numbers

Numbers have names that you speak. For example, when you write down a
phone number that someone is reciting, you hear two, one, six, nine, three,
two, seven, and you write down 216-9327. Some other names associated with
numbers refer to how the numbers are classified.

Natural (counting): The numbers starting with 1 and going up by ones
forever: 1, 2, 3, 4, 5, . . .

Whole: The numbers starting with 0 and going up by ones forever.
Whole numbers are different from the natural numbers by just the
number 0: 0, 1, 2, 3, 4, . . .

Integer: The positive and negative whole numbers and 0: . . . ,–3, –2, –1,
0, 1, 2, 3, 4, . . .

Rational: Numbers that can be written as p/q where both p and q are
integers, but q is never 0:3/4,19/8,-5/21,24/6 and so on

Even: Numbers evenly divisible by 2: . . . ,–4, –2, 0, 2, 4, 6, . . .

Odd: Numbers not evenly divisible by 2: . . . ,–3, –1, 1, 3, 5, 7, . . .

Prime Numbers divisible evenly only by 1 and themselves: 2, 3, 5, 7, 11,
13, 17, 19, 23, 29, . . .

Composite: Numbers that are not prime; numbers that are evenly divisible
by some number other than just 1 and themselves: 4, 6, 8, 9, 10, 12,
14, 15, . . .

The Career Of Accounting

Accounting Careers:Types of accountants

Just as there are types of
accounting, there are also
types of accountants.While
there are many ways to
classify accountants, the
most common division is
between public and private
accountants.

Public accountants mainly deal with financial accounting (the preparation of financial statements for external parties such as investors). Private accountants deal with both financial and management accounting.

Career of accounting in which one Public or Private?

According to many college professors and career services counselors, most
college students interested in accounting should try to start their careers in
public accounting. This route carries a number of benefits, including higher
salaries, more interesting and diverse work, exposure to many different
industries and the ability to fulfill a requirement for certification

One senior manager at a Big Four firm captures the general opinion of the
majority of people we spoke with: “For someone just out of college, public
accounting is really the only way to go,” he says. “You gain experience and
get up the learning curve much more quickly. A public accountant will
perform three or four audits of entire companies in a year, whereas a private
accountant could be stuck monitoring cash ledgers – one account – for a year.
Even in the long term, there are benefits. You have more control over your
career progression. In private, you’ll often see highly productive and talented
individuals mired in their jobs or limited to lateral career moves because they
have to wait for the people above them to retire or otherwise leave the
company. Public accounting is much more of a meritocracy – you’ll advance
as fast and as high as you want to.”

However, public accounting life is not for everyone. Private accountants
generally don’t travel nearly as much as public accountants, and their work
schedules are much more stable – they rarely have to pack a briefcase and go
to a client at a moment’s notice. Private accountants also do not have to deal
with the chargeability issue (the pressure on public accountants to work on
billable projects as much of the time as possible). Finally, they are not
required to get their CPA and thus do not have to deal with the rigors of
fulfilling the grueling certification requirements

What Is Cost And Cost Accounting

Cost Accounting: Management accounting is often called cost
accounting and you will find the terms used interchangeably.
Cost accounting is generally considered the major subset of
management accounting. The field of cost accounting has most
of the analytical theories and approaches to cost behavior.
To make a distinction, management accounting looks to the
tasks of decision-making, policy setting, and communicating
information, while cost accounting collects and analyzes costing,
pricing, and performance details for internal management and,
crossing into financial accounting, for external reporting.

Management accounting systems can report information in
any way that is useful to management. The system does not
have to conform to GAAP.Unfortunately, once the
data is in the system, it is often unused or misused.
Managers are usually aware of what is in the externally
reported financials. What happens then is that managers
use only the information in external financial
reports—and so they make poor decisions. Successful managers
need to learn, through study or experience, the tools to
find and analyze the relevant data necessary to make good
business decisions.

Cost accounting varies, depending on whether you manufacture
or retail goods and on whether you provide a product or a
service. In each area, the approach to cost identification varies.
The goal of all approaches is to aid strategic decision-making
and cost management. There are some constants that you need
to understand in order to talk about cost accounting. You will
want to know how much you have to sell to meet expenses. You
will want to know the effect of pricing on sales volume.

In just about all systems, you want to find what it cost to
operate and maintain the business and the amount of profit
made within a specific time period. If you manufacture, you will
want to know the value of the raw materials and the work in
process. How much did you make from finished goods sold and
how many remain to be sold? You take those results and prepare
for the activities of the next time period. You make budgets
and forecasts. You compare with past time periods and look at
any variances that might need corrective action or improvement.
These results help you control, plan, and decide.

The Fundamental Equations of Accounting

The Income Equation- We find the direct answer to these three
questions on the income and expense statement. The income
statement equation— revenue – expenses = net income—is the
key to the income statement. The result here is simple arithmetic:
revenue (the gozinta) minus expenses (the gozouta) yields net income.


The Balance Sheet Equation- The balance sheet answers another set
of crucial questions for a company. Today, what is my company worth?
What’s in my bank account? How much money do other companies or people
owe me? How much money do I owe other people or companies?

The fundamental equation of accounting underlies the balance
sheet. It looks like this:

assets = liabilities + equity
assets – liabilities = equity
assets – equity = liabilities

The physical layout of the balance sheet matches the first
equation:

assets = liabilities + equity

This makes logical sense: the value of what the company
owns (assets) minus the value of what the company owes (liabilities)
leaves you with what the company is worth (equity).

Cash Accounting And Accrual Accounting

Today i am talking about cash accounting and accrual accounting. lets first start with
Cash Accounting.

The cash basis of accounting is the most elementary form of accounting and is typically used by individuals, small businesses, and school districts. Under the cash basis, revenues are recorded when received and expenditures are recorded when monies are paid.


The virtue of cash accounting is its simplicity. As accounting is not performed
until monies are received or spent, the relationship of revenues and expenses
to the accounting period in question is dependent on the actual flow of cash.
This system makes no provision for noncash transactions; therefore, the
accounting reports may provide inadequate information for control purposes
and may limit analysis of the financial condition of the entity.

The modified cash basis of accounting is the cash basis of accounting that
incorporates modifications “having substantial support.” A modification
having substantial support is not clearly defined. However, these
modifications are frequently made to recognize certain transactions on
an accrual basis and, thereby, represent transactions that would be
reported by an entity following General Accepted Accounting Principals
(GAAP). The modifications, however, should not be considered illogical
Districts need to work with their independent auditors to resolve any
questions or issues relating to the modified cash basis of accounting.

Accrual Accounting

Accrual accounting is a system whereby revenues are recognized when
earned and expenditures are recognized in the period incurred, without
regard to the time of receipt or payment of cash. This method of accounting
allows a more accurate evaluation of operations during a given fiscal period.
Accrual accounting may be based on one of two methods: full accrual or
modified accrual.

The term “full accrual” is sometimes employed and can have one of two
meanings. Either an extensive number of categories in both revenues and
expenditures are accrued and/or this activity is continuous (daily) rather
than periodic. Increasing the degree of complexity of financial reporting
creates an associated cost in the posting, recording, and balancing of more
accounts. Full accrual is typically used in enterprise and agency funds as a
number of major items that are considered expenses in a full costing system
(such as depreciation) need to be recognized.

Modified accrual accounting falls between the cash basis and the full accrual
basis and is the most common accrual basis used by school districts. In
modified accrual accounting, most revenues and expenditures may be
handled on a “cash” basis for daily processing and converted to an accrual
basis by periodic adjustments. The determination of how frequently the
adjustments will be made is a value judgment that depends on the
significance of the items, the purposes for the accounting, the need to
reflect the operations of the enterprise, and the associated cost and
complexity of the system.

General Journal Entries Examples

The best way to learn general journal entries to work with examples. Let's get started.

Let’s first review the rules of debits and credits by working with the accounting equation (Assets = Liabilities + Stockholders’ Equity). Assets are increased with debits and decreased with credits.

Liabilities are increased with credits and decreased with debits.

Below are the some general journal entries

Transaction 1 - A new corporation issues 1,000 shares of common stock and receives $75,000 cash.

Step 2 -- The journal entry is
Cash 75,000
Common Stock 75,000

Transaction 2 -- The corporation acquires equipment. The purchase price is $100,000. The corporation pays $25,000 cash and signs a note for the balance.

The journal entry is:

Equipment 100,000
Notes Payable 75,000
Cash 25,000

This is a compound entry because it has more than one credit. A transaction can affect more than one debit and/or more than one credit account. The important point is that the total of all debits equals the total of all credits for each journal entry.

Transaction 3 -- Services are performed and clients are billed for $40,000.

The journal entry is
Accounts Receivable 40,000
Service Revenue 40,000

Transaction 4 -- Salaries of $10,000 are paid.

The journal entry is
Salaries Expense 10,000
Cash 10,000

Transaction 5 – Cash, in the amount of $20,000, is collected from clients who were previously billed. (Transaction 3 - Services were performed and clients were billed for $40,000.

The journal entry is:
Cash 20,000
AR 20,000

Transaction 6 -- $1,000 of supplies are purchased on account.

The journal entry is:
Supplies 1,000
AP 1,000

Transaction 7 -- A contract is signed with a client. The client immediately pays $15,000 for services to be performed at a later date.

The journal entry is:
Cash 15,000
Unearned Revenue 15,000

Transaction 8 -- $1,000 is paid for the supplies purchased in Transaction 6.]

The journal entry is:
Accounts Payable 1,000
Cash 1,000

Transaction 9 -- Services are performed and cash of $2,000 is received.

The journal entry is:
Cash 2,000
Service Revenue 2,000

Transaction 10 -- Dividends of $2,500 are paid to the stockholders.

The journal entry is:
Dividends 2,500
Cash 2,500

These ten examples have given you an opportunity to work with the rules of debits and credits. (Practice)

In addition, you are now comfortable with the two step process of analyzing transactions and then recording them in the general journal. (Confidence)