Steve Job

1."There's an old Wayne Gretzky quote that I love. 'I skate to where the puck is going to be, not where it has been.' And we've always tried to do that at Apple. Since the very very beginning. And we always will.""
2."My model for business is The Beatles: They were four guys that kept each other's negative tendencies in check; they balanced each other. And the total was greater than the sum of the parts. Great things in business are not done by one person, they are done by a team of people."
3."Team, it turned out that Michael Dell wasn't perfect at predicting the future. Based on today's stock market close, Apple is worth more than Dell. Stocks go up and down, and things may be different tomorrow, but I thought it was worth a moment of reflection today."
4."Being the richest man in the cemetery doesn't matter to me ... Going to bed at night saying we've done something wonderful... that's what matters to me."
5."It's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them."
6." It's not about money. It's about the people you have, how you're led, and how much you get it. "
7."We think basically you watch television to turn your brain off, and you work on your computer when you want to turn your brain on."
8."I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what's next."
9."I wish developing great products was as easy as writing a check."
10."I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something. "
11."I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me."
12."Your time is limited, so don't waste it living someone else's life."
13."Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart. "
14."Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life."
15."Stay hungry. Stay foolish"
http://en.wikiquote.org/wiki/Steve_Jobs
http://homepage.mac.com/steve/Resume.html

From a 2 b

GDP 2 NDP 2 NI 2 PI 2 DI

http://en.wikipedia.org/wiki/GDP
http://en.wikipedia.org/wiki/Net_Domestic_Product
http://en.wikipedia.org/wiki/National_income
http://en.wikipedia.org/wiki/Total_personal_income
http://en.wikipedia.org/wiki/Disposable_income

Inflation is a rise in the general level of prices (Consumer Price Index). The CPI reports the price of a "market basket" of some 300 consumer goods and services...

http://en.wikipedia.org/wiki/Inflation
http://en.wikipedia.org/wiki/Basket_of_goods
http://www.ehow.com/how_2063457_measure-inflation.html

Idleness means loss of skills, loss of self-respect,.....

You named it

Hofberger, the Chevy salesmand in Tomcat, Va., a suburb of Washington, called up Littleton , of Littleton Menswear & Haberdashery, and said, "Good news, the new [Chevrolets] have just come in and I've put one aside for you and your wife."
Littleton said, "I can't, Hofberger, my wife and I are getting a divorce." " I'm sorry," Littleton said, "but I can't afford a new car this year. After I settle with my wite, I'll be lucky to buy a bicycle."
Hofberger hung up. His phone rang a few minutes later. "This is Bedcheck the painter," the voice on the other end said. " When do you want us to start painting your house?"
"I changed my mind,"said Hofberger, "I'm not going to paint the house."
But I ordered the paint, "Bedcheck said. "Why did you change your mind?"
" Because Littleton is getting a divorce and he can't afford a new car."
That evening when Bedcheck came home his wife said, "The new color television set arrived from Gladstone's TV Shop."
"Take it back, " Bedcheck told his wife.
"Why?" she demanded.
"Because Hofverger isn't going to have his house painted now that the Littletons are getting a divorce."
The new day Mrs. Bedcheck dragged the TV set in its carton back to Gladtone. "We don't want it."
Gladstone's face dropped. He immediately called his travel agent, Sandtorm. "You know that trip you had scheduled for me to the Virgin Islands?"
"Right, the tickets are all written up"

luckily i have it

The practice of record keeping by which income is recorded when earned and expenses are recorded when incurred, even though the cash may not be received or paid out until later.

A current liability representing the amount owed by a business to a creditor for the merchandise or services purchased on open account.

Money owed a business enterprise for merchandise bought on open account.

Accrual basis of accounting is based upon generally accepted accounting principles. It recognizes income when it is earned and not when it the cash received and recognizes expenses when they are owed and not when you pay them. Accrual basis of accounting includes Accounts Receivable, Accounts Payable, and Inventory. The practice of record keeping by which income is recorded when earned and expenses are recorded when incurred, even though the cash may not be received or paid out until later.

These are expenses incurred during an accounting period for which payment has not been made.

Income earned during a fiscal period but not actually received during that fiscal period.

These are liabilities which have occurred, but have not been paid during an accounting period. Examples would include accrued wages payable, accrued sales tax payable, and accrued rent payable.

Materiality

• The relevance of information is affected by its nature and materiality.
• In some cases, the nature of information alone is sufficient to determine its relevance.
• In other cases, both the nature and materiality are important...
• Information is material if its omission or misstatement could influence the economic decistions of users taken on the basis of the financial statements.

Reliability

• To be useful, information must also be reliable.
• Information has the quality of reliability when it is free from material error and bias and can be depended upon by users to represent faithfully that which it either purports to represent or could reasonably be expected to represent.
• Information may be relevant but so unreliable in nature or representation that its recognition may be potentially misleading.

Faithful representation

• To be reliable, information must represent faithfully the transactions and other events it either purports to represent or could reasonably be expected to represent.
• Most financial information is subject to some risk of being less than a faithful representaion of that which it purports to portray.
• This is not due to bias

Substance over form

• If information is to represent faithfully the transactions and other events that it purports to represent, it is necessary that they are accounted for and presented in accoundance with their substance and economic reality and not merely their legal form.
• The substance of transactions or other events is not always consistent with that which is apparent from their legal or contrived form.

Neutrality

• To be reliable, the information contained in financial statements must be neutral, that is, free from bias.
• Financial statements are not neutral if they influence the making of a decision of judgement in order to achieve a predetermined result or outcome.

Prudence

• The preparers of financial statements do, however, have to contend with the uncertainties that inevitably surround many events and circumstances...
• Such uncertainties are recognised by the disclosure of their nature and extent and by the exercise of prudence in the preparation of the financial statements.
• Prudence is the inclusion of a degree of caution in the exercise of the judgements needed in making the estimates required under conditions of uncertainty

Completeness

• To be reliable, the information in financial statements must be complete within the bounds of materiality and cost.
• An omission can cause information to be false or misleading and thus unreliable and deficient in term of its relevance.

• Users must be able to compare the financial statements of an entity through time in order to indentify trends in its financial postion and performance.
• Users must also be able to compare the financial statements of different entities in order to evaluate their relative financial position, performance and changes in financial position.
• Hence, the measurement and display of the financial effect of like transactions and other events must be carried out in a consistent way throughout an entity and over time for that entity and in a consistent way for different entities.

Going concern

• The financial statements are normally prepared on the assumption that an entity is a going concern and will continue in operation for the foreseeable future.
• Hence, it is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations;
• if such an intention or need exists, the finacial stetements may have to prepared on a different basis and, if so, the basis used is disclosed.

Accrual basis

• Financial statements are prepared on the accrual basis of accounting.
• The effects of tranacations and other events are recognised when they occur and they are recorded in the accounting records and reported in the financial statements of the period to which they relate.
• ...inform users not only of past transactions involving the payment and receipt of cash but also of obligations to pay cash in the future and of resources that represent cash to be received in the future.
• Hence, they provide the type of information about past transactions and other events that is most useful to users in making economic decisions.

PBSEs

(a) a major business combination(IFRS 3) or disposing of a major subsidiary;
(b) announcing a plan to discontinue an operation;
(c) major purchases of assets, classification of assets as held for sale (IFRS 5),
other disposals of assets, or expropriation of major assets by government;
(d) the destruction of a major production plant by a fire
(e) announcing, or commencing the implementation of, a major restructuring(IAS 37);
(f) major ordinary share transactions and potential ordinary share transactions (IAS 33);
(g) abnormally large changes in asset prices or foreign exchange rates;
(h) changes in tax rates or tax laws that have a significant effect on current and deffered tax assets and liabilities(IAS 12)
(i) entering into significant commitments or contingent liailities; and
(j) commencing major litigation