Posted onJanuary 25, 2015
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Financial statements (or financial reports)
Purposes of financial statements
Business enterprises are individuals or associations of individuals that control and use resources for a variety of purposes, specially that of yielding return to the enterprise owner (Daughtney 1981).
Basic Types of Financial Statements for a Business Enterprise
Business transactions are events or exchanges which affect the assets, liabilities or owner’s equity of an organization (Druker 1977)
Each transaction consists of debits and credits and for every transaction they must be equal.
For Every Transaction
Value of debits = Value of Credits
A + E = L + OE + R
A = Assets
E = Expenses
L = Liabilities
OE = Owner’s Equity
R = Revenues
Debit Accounts (A + E) = Credit Accounts (L + OE + R)
Debits are on the left and an increase in a debt account reduces a credit account. Credits are on the right and an increase in a credit account decreases a debit account.
Assets are economic resources acquired through a transaction or event that can provide economic utility in future production or revenues.
Assets are classified (Julian 1974) thus:
Classification of current assets:
2. Property, plant and equipment are long term or long-lived tangible assets with an estimated life of more than one year and re acquired for the purpose of using them in the business to generate revenues.
Liabilities are economic obligations resulting from past transactions or events which can be measured in monetary terms. They are settled through the performance of economic resources.
Classifications of Liabilities
2. Long term Liabilities are obligations which are not expected to require the use of current assets or the creation of current liabilities within one year operating cycle.
Cosmetology is the study and application of beauty treatment. Branches of specialty include hairstyling, skin care, cosmetics, manicure/pedicure, and electrology.
In order to help others become beautiful, a cosmetologist should have good health and personal hygiene, and be properly groomed (Reyes 1979).
Good health is required for the successful practice of cosmetology. Without it, a cosmetologists cannot work efficiently nor enjoy the pleasures of life.
Personal hygiene is concerned with intelligent care given by the individual to one’s health by following the rules and healthful living such as: cleanliness, correct posture, exercise, relaxation, adequate sleep, balance diet, and wholesome thoughts.
Grooming is shown in one’s personal appearance. It includes personal hygiene, suitable or appropriate attire and neatness.
Always wash face with soap and water before doing any facial cleaning or treatment. Cleansing creams or lotion may also be used. Mud packs and honey packs are applied to remove blemishes and tone the skin.
Skin whiteners and astringent lotions may be used to peel off the outer layer of the skin.
Pimples and blackheads may be removed with an instrument. Be sure to disinfect your hands and the instruments before and after removing the pimples.
Whether skin is oily or dry, there are always an equivalent lotions or creams that can be used for face.
Various aids used in maintaining the face (Reyes 1986):
Drafting is the primary method of communication between designers and clients, architects, and builders, engineers and production personnel and between advertisers and customers. A drawing, when used to show the material, dimensions, and shapes of product, is known as a technical drawing (French 1974).
Fundamental Elements of Drafting
2. Technical terms used in connection with lines
3. Arcs and Circles.
Ref: TLE reviewer for LET; Mark Raguindin, MAEd
Baking is the process of cooking by dry, indirect heat usually in an oven and is considered the best method of cooking to retain the nutritution value of food. The appropriate mixing method applied for biscuit-making is called the pastry method (Rojo 1986).
Basic Baking Ingredients
Kinds of Wheat flour
2. Water – the cheapest liquid in baking, is indispensable in transforming the protein of the flour into gluten form.
3. Milk – usually pasteurized, is commonly used in baked products.
4. Sugar – is made from either sugarcane or sugar beets, It may be: Refined – best variety for most light cakes; Brown - added color to baked products, is less refined; Honey – is twice as sweet as sugar; Molasses – is a by-product in the manufacture of sugar from sugercane
5. Shortening – refers to the fat or oil used to tenderized baked products or to fry food. It nay be: Hog fat (lard) – is best for bread, biscuits, dip crust and few types of cake; Butter -is used mainly for cakes and cookies; Coconut oil – is taken from the meat of coconuts.
6. Egg – can provide the cake mixture with structural framework. Egg yolk will serve as an emulsifier in order to make mixing of both liquid possible.
7. Leavening agents – make baked products light and porous
8. Salt – is used to control and regulate the fermentation process in bread making
9. Flavors and spices – are extracts from plants, seeds and aromatic vegetable products which usually available in liquid or finely ground state.
10. Cocoa and chocolate – are widely used in the production of cakes and pastries.
Cookies – are tiny cakes often served as snacks or at festive occasions.
Classifications of cookies (Navaro 1985):
Drop cookies – are made from butter dropped onto the baking sheet from a teaspoon
Pastry – Includes a variety of products made from dough containing medium to a large amount of fat. Ingredients include flour, fat, water, salt.
Ref: Reviewer in TLE for LET, M.Raguindin, MAEd.