Cost of Goods Checkpoint Essay Example for Free

Cost of Goods Checkpoint Essay A multi-step income statement for a trading business highlights the fact that between 40% and 60% of revenue from sales is accounted for as the cost of goods sold. The cost of goods attributed to a company’s products is expensed as the company sells these goods. There are several ways to calculate COGS but one of the more basic ways is to start with the beginning inventory for the period and add the total amount of purchases made during the period then deducting the ending inventory. (According to Kimmel, Weygandt, and Kieso), cost of goods sold is found by taking the cost of goods available for sale (beginning merchandise inventory + net purchase), less the ending merchandise inventory (p. 244). In a wholesale or retail trading business, merchandise held for resale in the normal course of business is the largest asset owned by the organization. For this reason it is vital that accurate up-to-date records be maintained when goods are acquired and inventories taken. Finished goods and or merchandise makes up cost of goods sold. There are two classifications of inventory: merchandiser or manufacturer. In a merchandiser company inventory consists of many items all different. Whereas, a manufacturer, some inventory may not be ready (Kimmel, Weygandt, Kieso, p. 282). Examples of items that make up cost of goods include; produce, clothing, electronics, items that can be resold from manufacture to a company to the customer. This means when the business acquires a finished product, the cost of the product goes into an inventory asset account. The customer will then purchase the product, finished good, the business transfers the cost of the product from the inventory asset account to the cost of goods sold expense account because the product is no longer in the business’s inventory (Kimmel, Weygandt, Kieso, p. 282). References Kimmel, P. D. , Weygandt, J. J. , Kieso, D. E. (2011). Financial accounting: Tools for business decision making (6th ed. ). Retrieved from The University of Phoenix eBook Collection database

Child Labor Essay -- Work Children Research Papers

Child Labor The next time when you are out on your shopping trip, chances you may have support a business that exploits children. It is very disturbing and heartbreaking to learn many children are chained to looms for 12 hours a day because families need to have their child bringing home a small amount of moneys. Child labor has always been a difficult subject to address, the topic have become much more complicated and prolific. Child Labor is not an isolated problem. The phenomenon of child labor is an effect of economic discrimination. In different parts of the world, at different stages of histories, laboring of child has been a part of economic life. More than 200 million children worldwide, some are as young as 4 and 5 years old, are slaves to the production line. These unfortunate children manufacture shoes, matches, clothing, rugs and countless other products that are flooding the American market and driving hard-working Americans out of jobs. These children worked long hours, were frequently beaten, and were paid a pittance. In 1979, a study shows more than 50 million children below the age of 16 were considered child labor (United Nation labors agency data). In 1998, according to the Campaign for Labor rights that is a NGO and United Nation Labor Agency, 250 million children around the world are working in farms, factories, and household. Some human rights experts indicate that there are as many as 400 million children under the age of 15 are performing forced labor either part or full-time under unsafe work environment. Based upon the needs of the situation, there are specific areas of the world where the practice of child labor is taking place. According to the journal written by Basu, Ashagrie gat... ...beneficiaries. The hopes of hundreds of millions are a stake; thinking things through is not just good intellectual practice, it is a moral duty because child labor is a human rights issue. By encouraging more child labor in an immoral way, we are not only taking away those innocent years from them but also the rights to be educated and the rights to be free. What is more of human rights than growing up as a free person, attending school without being held in bondage? Bibliography http://www.american.edu/TED/nike.htm http://www.hrw.org/children/labor.htm http://www.saigon.com/~nike/childlabor.html http://japan.usembassy.gov/e/p/tp-2003011a6.html â€Å"Child Labor: Cause, Consequence and Cure with remarks on International Labor Standards†- www.jstor.org http://econ.cudenver.edu/beckman/econ4410/basu.pdf http://slate.msn.com/id/1918

Internet and Suicide Essay

Millions of people in the developed countries have access to internet. This due to the high advancements in technological levels. High literacy levels have also contributed to the usage of internet coupled with growing needs and desire to get information. Internet is rising as America‘s most important source of information. (Alao, 1999) The increased affordability of personal computing in recent years has put computers in many homes across the nation. This availability has also driven the cost of internet access down so that many households can afford to subscribe to internet services at very low costs. This along with the vast amount of quality information available on the internet has led to increased internet usage. The internet has become handy and useful to find right information at one’s fingertips literally on anything from math formulas to the best way to kill oneself. (Baume, 1997) Suicide and Internet- Amount of information and How it Can Be Accessed The internet has become the invisible version of the real world where good and bad coexist. It is a small world except less strong regulations to hinder the detrimental effect of bad resources like those websites that provides encouragement for suicidal methods, and unprofessional advices on suicide. (Shaffer, 2000) It is amazing how easily one can access to more than 1,000,000 websites regarding suicide and information on how to kill oneself. Suicide is basically how a person gets encouraged to take his or her life. In simple terms, a person gets information on the easiest, fastest and may be painless methods that can be employed to kill his or herself. Internet is known to offer some advice on crude methods that can be used to kill oneself. The internet offers information as fast as possible and no one needs to know that you are intending to kill oneself. (Michel, 2000) Taking one’s life is usually a personal decision and internet offers personalized assistance. This is the main reason why many people turn to it when they require information on to how to commit suicide. Information can be accessed in the privacy of ones bedroom, cybercafes, or even in the office. No one needs to find out since it is silent advice though very powerful. Another reason why many people have turned to internet to seek information on how to commit suicide is availability of cheap and efficient internet networks and connections. To access internet is no longer an expensive or a cumbersome exercise. Besides that, one is assured that the information or advice given is confidential unless, of course, you divulge it to other people. (Michel, 2000) Young children and youth are usually the most curious lot and they always want to explore and find out more about what they hear. It is through such adventures, that they access information that has to do with suicide. There are some groups of people however who commit suicide without the intention of taking away their lives. It is only that curiosity gets the better of them. They try to experiment with the advice and information they get from internet oblivious of the deadly consequences. There were some children who committed suicide after they accessed information regarding Sadaam’s execution. This was a sad and unfortunate incident which can only be linked to cheap and available internet connections. (Etzersdorfer, 1998) Tackling the deaths which come as a result of internet connections is a challenging task. This is because there is no workable formula which has been devised so far to control the usage and internet access. Cybercafes are all over and people can always sneak in and browse some information and advice without anybody’s knowledge. It is becoming increasingly difficult to control people’s lives due to the increasing demands in the modern society. (Potter, 2000) Many organizations and institutions have subscribed to internet connections including homes. It is therefore not easy to control the usage of internet since it has also contributed to growth of other social economic and cultural factors. It also important to note that, the information contained in the websites cannot be easily censored. As a matter of fact, it has not been censored therefore, the amount of information that can be found in the internet cuts across the whole world. People are actually invited to comment or even add more information regarding suicide and therefore the people have more than enough methods of committing suicide to choose from. (Potter, 2000) Effects of Internet on Suicide The effects of internet on incidences of suicide are becoming overwhelming with every passing day. The report and incidents of suicide have been reported on the television, radio and even written on papers. (Phillips, 1974) The exposure of people on such media services has proved to have negative influences on the people exposed them. It has been reported that the people who are exposed to internet area more inclined to be involved in acts of suicide. There have been overwhelming and systematic reviews published by people and they reveal the saddening truth regarding incidents of suicide. For instance there have been manuals on suicide, literature and suicide and actual reports of suicides shown on the films. Despite the evidence from all these forms of media, the extent to which internet contributes to suicides is yet to be proved. (Baume, 1997) Most suicide cases are reported especially when the victims had collected very specific information on suicide. Such stories are portrayed prominently and dramatically. Internet has also led to mob psychology because the information collected can be distributed amongst friends. Many people have been reported to have committed suicide together in a group since the information was forwarded to each and every one of them. Most of the books and journals accessed on the internet have been easily trusted and exercised. The guidelines that a re presents are properly outlined and therefore they leave no doubt in the person accessing the information. (Etzersdorfer, 1998) The information appears to be given from a professional point of view. Besides that the methods portrayed are outlined in a procedural way and the degree of efficiency is seen to be very high False Advice Due to the increased reliance of people on information available on the internet, some authors have come up with false advice on the best and efficient procedures that one must follow to effectively commit suicide. Some people have been left paralyzed and mentally retarded after attempting suicide. This has been due to failed methods which did not achieve the end goal. (Potter, 2000) The information available has also been falsified and unsuspecting individuals go ahead to use the information since they have no means of checking the facts.

The Path to Aboliton - 1312 Words

Abolitionists from the 1820-1860 found it necessary to use certain strategies to appeal to the social and political minds of Americans striving to influence the participation of the abolition movement. One of the many strategies used by American abolitionists was the use of slave narratives. This moral persuasion was a very useful tactic. The creation of these narratives helped white northerners identify with the mindset of an African American slave in the south. The narratives illustrated the experiences slaves overcame to find freedom. Another major strategy that was useful to the slavery movement was the involvement of women abolitionists. As abolitionists, they started reaching out to the public by creating petitions, letters, poems, and articles to rectify the common issue of slavery. The use of slave narratives and publications allowed abolitionists to spread the abolition cause. With these tactics in use, the abolition movement became the foundation of the search for freedom o f those who were enslaved. The ability to read and write, for slaves, was a form of freedom they could achieve themselves. Add in a slave talking about his desire to learn. This intellectual freedom allowed them to maintain relationships that were torn apart by the traditions of slavery. The exercise of reading and writing was dangerous for slaves and their teachers and it was illegal. The punishment for such a crime would be unusually cruel and severe for anyone who was caught in the act or