Question

1. Most people dismiss the possibility of society taking a major step back in their lifetime - give a historical example when this happened and state the general impact it had on business.

2. Life is challenging and a career in business requires knowledge, work, values, mental resilience and careful planning. outline how you have considered these factors and prepared to apply them in your life and business career.

3. What are the two main accounting standards used for corporate accounting?

Answer 1

Most people dismiss the possibility of society taking a major step back in their lifetime: jobs and others

Historical example:

Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, though Wayne sold his share back within 12 days. It was incorporated as Apple Computer, Inc., in January 1977, and sales of its computers, including the Apple II, grew quickly. Within a few years, Jobs and Wozniak had hired a staff of computer designers and had a production line. Apple went public in 1980 to instant financial success. Over the next few years, Apple shipped new computers featuring innovative graphical user interfaces, such as the original Macintosh in 1984, and Apple's marketing advertisements for its products received widespread critical acclaim. However, the high price of its products and limited application library caused problems, as did power struggles between executives. In 1985, Wozniak departed Apple amicably and remained an honorary employee, while Jobs and others resigned to found.today apple........

Frist I choose life and business path should account for your goals, future plans and personality. Considering these factors can help you choose the right starting position and make strategic decisions over time.

Follow these steps as you prepare a life and business path:

1. Outline your life and business​​​​​​​ goals.
2. Create a five-year plan and a ten-year plan.
3. Discover your personality type.
4. Review your previous experience.
5. Compare job requirements to your education.
6. Assess your current skill set.
7. Take note of your interests.
8. Identify your core values.
9. Consider life and business growth

Generally accepted accounting principles (GAAP) refer to a common set of accounting principles, standards, and procedures issued by the Financial Accounting Standards Board (FASB). Public companies in the United States must follow GAAP when their accountants compile their financial statements. GAAP is a combination of authoritative standards (set by policy boards) and the commonly accepted ways of recording and reporting accounting information. GAAP aims to improve the clarity, consistency, and comparability of the communication of financial information