Users and Uses of Financial Information

In every financial accounting textbook, the authors explain in detail about "Users and Uses of Financial Accounting." Information such as cash flow statements, income statements, and balance sheets are important documents that are kept to ensure that the company is recording everything correctly. The users of this accounting information are divided into two categories, internal and external users.

The internal users of accounting information are the managers who organize, operate and plan daily business routine. They are directly affiliated with the company and use administrative accounting, which includes in-depth reports used to determine financial strengths and weaknesses. For example, internal users would include management, finance, marketing, and human resources. An example of a human resource manager would be that he or she has to ensure the rights of their employees by using wage information along with other data. Important questions arise with internal users. A question for a marketing manager would include, "What price for an Apple I Pad will maximize the company's net income?"

External users are groups of individuals that are outside organizations, and they use accounting to make financial decisions. An example of an external user would include a creditor, who uses accounting to evaluate the risks of granting credit. Taxing authorities, investors, and customers are also external users. External users would receive limited financial information from a company such as financial statements. These statements are the backbone of financial accounting and they give the external users enough information to inform them of the company's economic position. Assets, liabilities, revenues, and expenses are of great importance to users of accounting information. For business purposes, it is customary to arrange this information in the format of four different financial statements; Balance sheet, income statement, retained earnings statement, and statement of cash flows.

The purpose of the income statement is to report the success or failure of the company's operations for a period of time. The income statement lists the company's revenues followed by it expenses. A key point to recall when preparing an income statement is that amounts received from issuing stock are not revenues, and amounts paid out as dividends are not expenses. Therefore they are not reported on the income statement. Retained earnings statement shows the amounts and causes of changes in retained earnings during the period. The time period is equivalent to the time covered on the income statement. Financial statement users can evaluate dividend payment practices by monitoring the retained earnings statement. Some investors seek companies that have a history of paying high dividends, while others seek companies that reinvest earnings to increase the company's growth.

The balance sheet is based on this equation: Assets = Liabilities + Stockholders Equity. This equation is referred to as the basis accounting equation. The balance sheet reports the company's assets, liabilities and owners equity. It is a financial window to the company at a specific point in time. Claims are divided into two categories: claims of creditors, which are called liabilities and claims of owners, which are called stockholders equity. On the balance sheet it lists the company's financial position as of a specific date in this order: assets first, then liabilities and stockholder's equity. A note to self about stockholders equity is that it is composed of common stock and retained earnings. Finally there is the statement on cash flows. The purpose of the statement of cash flows is to provide financial information about the cash receipts and cash payments of a business for a specific period of time. Users are interested in the statement of cash flows because they want to get a better understanding of what is happening to a company's most important resource. The statements of cash flows answer these following questions: 1) Where did cash come from during the period? 2) How was the cash used during the period? 3) What was the change in the cash balance during the period? The statement of cash flows also organizes and reports the cash generated used in the following activities: financing, investing, and operating. All businesses are involved with these three types of activities.

Financing activities is described as taking money to make money. The two sources of outside funds for corporations are borrowing money and selling shares of stock in exchange for cash. Investing activities involve the purchase of the resources company's need in order to operate such as sale of long-term investments, property, plant, and equipment. Finally there is operating activities. Once a business has the assets it needs to get started it can begin its operations. Operating activities convert the items reported on the income statement to cash.

In conclusion, the users of financial statements are people who use financial documents for a large variety of business purposes and their ability to make decisions using these statements helps them to succeed in the business world. Students have a chance to succeed in business if they have the knowledge of professionals who use financial statement analysis techniques and tools used on a day-to-day basis.

How to Make Firefox Safe

Is Firefox Safe?

Firefox is considered to be the safest of all the major browsers. One of the main reasons Firefox has remained safe is its reliably short market history. Internet Explorer was one of the first browsers to enter the market. It was also the first choice of hackers. Identity thieves, spammers and hackers have all sharpened their skills with Internet Explorer and have now turned their attention to Firefox. This has forced Mozilla to constantly plug security holes in their browser. In addition, Firefox has increased it's ability to save your personal web history. If the browser is hacked, all this data becomes available to identity thieves. This article will show you how to protect your data and make Firefox safe.

Top 3 Ways To Make Firefox Safe

1. Plug Holes with Security Add-Ons.

What's the first step to make Firefox safe? The answer is add-ons. has tons of free add-ons to make Firefox safe, fast and more appealing. By simply downloading small additional features and taking the proper precautions, you can easily make Firefox safe. However, leaving Firefox unmodified does not make it any safer than Internet Explorer which is notorious for security holes. Modifying Firefox with specific add-ons can provide you with an excellent security barrier.

The trouble is most websites are using Java Script to display banners, videos and other "click-able" elements. Net security advisers recommend that you avoid clicking on anything on questionable sites. However, this is a difficult task when you are quickly browsing through numerous pages. Clicking on the wrong link can cause a scripting attack, browsers hijacks, and malware to be added to your computer. Most script blocking add-ons have been proven effective, such as PC World's World Class Award winner "NoScript"; This tool helps to make Firefox safe by allowing Java Script and other executable content to run only from trusted domains of your choice. If you want to make Firefox safe you should have some form of script blocking.

Not all add-ons are made equal. Some Firefox's add-ons can make you more vulnerable to attack from malicious software. Hackers are able to implant Java script code into your browsers via the add-ons security holes. This allows spyware to record your personal info and passwords. These add-ons have become favorite tools for hackers:

Google Toolbar, Yahoo Toolbar, Extension, Facebook Toolbar, AOL Toolbar, Toolbar, and Netcraft Anti-Phishing Toolbar.

2. Keep Your Private Data Safe

The second step to make Firefox safe is private data security. One of the major areas of concern for Firefox safe usage is the amount of internet history that Firefox records. All web browsers can record your Internet history, search history, and passwords. However Firefox 3 has added features that allow it to remember all your password. This password manager benefits anyone with multiple complicated passwords. However, its better to not store these in your browser. If you insist on storing your passwords in Firefox, you should apply the master password feature that protects your saved passwords. Here is how:

1. Click "Tools"
2. Scroll down and choose "Options"
3. Choose the Privacy heading
4. Select "Saved Passwords"
5. Set "Master Password"

A Master Password will not prevent others from reading locally stored e-mails, viewing your browsing history, or from accessing sites the browser is already logged in to. You will need to shut down the browser and clear your temporary internet files to remove this data:

1. Quit, Firefox and any other web browser
2. Click Start, click "Control Panel", then then double-click "Internet Options".
3. On the General tab, click "Delete Files" under Temporary Internet Files.
4. In the Delete Files dialog box, click to select the "Delete all offline content" check box, and then click OK.
5. Click "OK".

Remember that Firefox does a traditional delete. So, this does not permanently erase the data from your hard drive. Only a secure delete can award you the ability to erase data from the drive permanently. For more on secure delete visit this Secure Delete Tutorial page

3. Listen to the Warnings

You can make Firefox safe by customizing your security settings to warn you of any suspected problems. By using this option, Firefox will warn you if a site has had a history of malicious attacks. This is a great preemptive measure that can save you from malware attacks and make Firefox safe. Here is how:

1. Click "Tools"
2. Scroll down and choose "Options"
3. Choose the Security tab
4. Click the check box for: "Warm me when a sites try to install add-ons", "Tell me if the site I'm visiting is a suspected attack site" and "Tell me if the site I'm visiting is A suspected forgery site.

10 Reasons Why People Travel

When people decide to leave the comforts of their home and venture to other locations there is usually a reason behind it. Whether the cause to travel was a last minute whimsy or had an actual purpose, it makes one think about all of the reasons why people travel. Reflect on the last time you left your location and ventured to another one. Did it have a purpose behind it? Let’s look and see if your motive to travel matched any of the one’s listed below. These are not listed in any particular order.

1. Romance- There are thousands of people who are involved in long distance relationships. At some point though, they need to see each other. For the sake of love, people will travel for hours to spend as much time as they can with the love of their life.

2. Relaxation- All work and no play is not a good thing. People need to get away from the stress of everyday life, and a nice sunny location with a beach might just be what the doctor ordered.

3. Family/ Friends -Many people have family/friends that are located in different parts of the world. They need to visit with them even if it’s for a short period of time.

4. Religion- There are places in the world that hold religious importance for many people. Religious travel is often related to a purpose such as seeing where the last pope was buried, or traveling to the town where Jesus was born.

5. Death- A relative, friend or acquaintance has passed away and travel is required to attend the funeral which is located out of town.

6. Honeymoon- You’re getting married and are going somewhere special to celebrate. This usually occurs right after the wedding, but there are many occasions where people celebrate a honeymoon years later.

7. Education-You’re getting your education somewhere other than where you live or you are going away on an educational school trip.

8. Celebration- Wedding, Anniversary, Birthday, Birth- There’s always something to celebrate and it doesn’t always happen where you live.

9. Medical/Health- Sometimes the treatment you need isn’t available in the city/town where you live. Often the best medical care is costly and requires travel to receive it.

10. Work- Job requirements might mean a fair bit of travel is involved. Even if the travel is within your own country it still has a purpose attached to it.

Overall, traveling can be a wonderful experience or it can be draining, expensive and just plain torture. Nonetheless if you need to go then embrace it for what it is, and try to make the best of it even if it wasn’t planned.

The Safety Net

Within the dream we are dreaming, A Course in Miracles (ACIM) is clear that we have a safety net. We seldom see it that way as we feel trapped in a world of our making with no way out. Fear and guilt overwhelm us and we look to the words of the Course to elicit feelings of safety while completely misunderstanding where to find safety. The ego uses the reminders of the Truth from the Course so that we end up quoting them to ourselves and each other in an effort to feel good, prove we're right and extremely safe in a world of terror. This approach is an ego tick that negates the practice of true forgiveness.

When we're willing to recognize this world is not a happy place and we do not feel safe, our justifications with the ego get called into question during the practice of forgiveness. We find we're literally junkies who are addicted to excuses for what we're going with the ego; And since the ego can not allow forgiveness to reveal any ego trick, justification is a defense. Remember, a defense does what it says, ie, it defends (protects) and only what is weak uses defense due to the fear of lack or loss.

A reminder does what it says, ie, it reminds or points the way to something else in the mind. Reminders of the Truth from the Course point away from belief with the ego and towards (the meaning of) the Truth. This is a course on the practical application of forgiveness and the experience of the meaning of the Truth. It is not a course on faith and justification. The choice is yours in how you will use the Course.

A common example that most course students recognize is regard anger. Nowhere in the Course are we told we should not get angry. That would actually be unrealistic. We are simply told not to deny we're angry and to admit we are choosing to get angry. However, what we are told is not to justify the anger. Do not make excuses for why you are angry. It's never for the "justification" reasons you think.

Taking this basic concept, let's look into the ego trick of justification as a defense to keep the ego safe which we mistakenly believe is our safety. Once you understand the trick, it can be applied to undoing anything with the ego. In this article, we're going to expose the trick using the reminders of the Truth from the Course as those are also subject to justification.

Belief, Justification, Assurance and Defense

What makes it so difficult to recognize the ego is using justification with reminders of the Truth is because they seem so wonderful and that we want to believe them. They sound like the Holy Spirit is telling us they are true when it's really the ego tricking us into believing they are true. It brings down to the difference between a defense of the ego and a reminder from the Holy Spirit and the choice you make. There is a huge difference in the mind.

First, let's look at few basic concepts to further the discussion:


Choosing to believe in an unreal ego idea (thought) makes it appear real and so you only have to invest belief with the unreal to prove you are right. Continued belief (judgment) keeps the idea with you.


Justification means, "to show, prove or declare something is right." It is the reasoning used by the ego for believing the unreal idea.


Since all belief and justification is in the mind, defense is in the mind and it means, "an attempt to justify (prove correct) or to do something in favor of an action." The only action you can take in the mind is decision making. Choosing to justify a ego belief makes a defense. It protects the unreal belief as you're in total agreement with the ego and denial of the Truth.

Let's be really clear: The defense (belief plus justification) does not make what you are trying to believe true. It makes the belief (unreal) appear real. The meaning is still what you've chosen with the ego even when used to justify a reminder of the Truth.


Assurance means, "to dispel doubts or a promise." There are two types of assurances: God or ego. The only guarantees the ego provides is what you're already experiencing and is clearly not working. Reminders of the Truth (God) point directly to the assurance (promise) of what is real. You choose which one sounds better and if it is the reminder, then you've got to get out of the justification trick.

The Separation Never Happened

We would not believe we're in this world unless we've already bought into the idea that we've separated from God. "The separation never happened" is the basic Truth reminder as part of the Atonement in the Course. It does, however, get used by the ego as a defense to negate the practice of forgiveness.

Justification of the reminder is the ego defense strategy. If we rephrase "the separation never happened" to the ego version, the trick of justification begins to expose itself: "Because the separation never happened, as the Course says, you are justified and correct to believe it did not happen." Honently looking reveal that we just explained why our belief that "the separation never happened" is correct using our "because" excuse (justification) with the ego. Again, this is not a Course on faith or justification as that further the ego and hides what the Truth reminder is pointing towards (which in this case is part of the Atonement, the solution). One mistaken belief leads to the next. Not far behind are the justifications as to "why" you are safe and still at home with God (other Truth reminders) in this world.

The Safety Net

Remember, this is a course in the obvious. The safety net can not be found in belief which defends the ego. It is only in those reminders of the Truth in the Course. Those do not require belief. Truth is not an idea. It's reality.

All reminders of the Truth, which are so lovingly pointed out to us in the Course, are there to do exactly what a reminder does: Remind us that we have reality (Truth) to catch us if we make a different choice. This does not mean to choose to "bliss out" on these assurances through ego belief. Rather, it means to consider them the explanations for why it is safe to practice forgiveness and obtain the experience of the Truth (which needs no defense).

Consider the rest of the Course another set of loving explanations for what you are choosing to give up (forgive). The light of Love shines brightly enough for the safety net to be obvious to anyone willing to look at their ego and forgive.


To the ego, defenselessness is seen as weakness and yet to see the safety net, you will need to stop defending the ego. The justification junkies we all are is merely a mind addiction from wanting to be right instead of happy. However, now you know that justification of belief merely defends the ego; And now you have the trick exposed to apply to anything in your life.

Defenselessness (not defending the ego) is true strength because it relies on the Father where the Truth reminders point to remembrance of Him. To head in that direction in the mind, you must first accept that you've already chosen with the ego and will continue to do so as you learn forgiveness. You are going to get upset and angry. Do not defend (justify) that anger. Also, accept that you've been trying to believe your way to the Truth instead of practicing forgiveness of the beliefs (judgments) which leads directly to where the reminders point. Do not defend (justify) the trick even if you feel guilty or angry (do not justify them). Every time you accept responsibility for anything as being your choice, even when you've chosen to believe with the ego, you have the ability to choose differently because you are not justifying it which is protecting the ego.

What you are believing with the ego is what you are forgiving. The Father has provided the safety net but it's your decision to use it or not. The Truth reminders point where to look in the mind for the safety net and how to forgive. Forgiveness leads directly to the meaning in the Course that safety is in defenselessness. Forcing faith merely reinforces the ego. That's not true bliss and not the safety net.