Earning Profit, Paying For Loss Term Paper by Top Papers

Earning Profit, Paying For Loss
This paper discusses the need and benefit of determining a profit or a loss for a business enterprise.
# 141543 | 1,250 words | 3 sources | 2008 | US
Published on Dec 01, 2008 in Business (Accounting) , Accounting (General)

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The writer addresses a business owner and his attitude about not having the need to determine profits because - as he said - orders from customers are constantly coming in and there is cash in the bank to pay the bills.

From the Paper:

"We earn a profit, but we pay for a loss. Assumption: I am assuming this business has been (1) operating for a number of years, (2) the owner is a seat-of-the-pants entrepreneur type who places no value in accounting, accountants and financial information, (3) the business is of a type that buys merchandise and sells it such as a wholesaler of goods and would be classified as being on the accrual basis of accounting rather..."

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Earning Profit, Paying For Loss (2008, December 01) Retrieved May 23, 2022, from https://www.academon.com/term-paper/earning-profit-paying-for-loss-141543/

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"Earning Profit, Paying For Loss" 01 December 2008. Web. 23 May. 2022. <https://www.academon.com/term-paper/earning-profit-paying-for-loss-141543/>