Management and Financial Accounting

Accounting is usually seen as having two distinct strands, Management and Financial accounting. Management accounting, which seeks to meet the needs of managers and Financial accounting, which seeks to meet the accounting needs of all of the other users. The differences between the two types of accounting reflect the different user groups that they address. Briefly, the major differences are as follows:

  • Nature of the reports produced. Financial accounting reports tend to be general purpose. That is, they contain financial information that will be useful for a broad range of users and decisions rather than being specifically designed for the needs of a particular group or set of decisions. Management accounting reports, on the other hand, are often for a specific purpose. They are designed either with a particular decision in mind or for a particular manager.
  • Level of detail. Financial reports provide users with a broad overview of the performance and position of the business for a period. As a result, information is aggregated and detail is often lost. Management accounting reports, however, often provide managers with considerable detail to help them with a particular operational decision.
  • Regulations. Financial reports, for many businesses, are subject to accounting regulations that try to ensure they are produced with standard content and in a standard format. Law and accounting rule setters impose these regulations. Since management accounting reports are for internal use only, there are no regulations from external sources concerning the form and content of the reports. They can be designed to meet the needs of particular managers.
  • Reporting interval. For most businesses, financial accounting reports are produced on an annual basis, though many large businesses produce half-yearly reports and a few produce quarterly ones. Management accounting reports may be produced as frequently as required by managers. In many businesses, managers are provided with certain reports on a monthly, weekly or even daily basis, which allows them to check progress frequently. In addition, special-purpose reports will be prepared when required (for example, to evaluate a proposal to purchase a piece of machinery).
  • Time horizon. Financial reports reflect the performance and position of the business for the past period. In essence, they are backward looking. Management accounting reports, on the other hand, often provide information concerning future performance as well as past performance. It is an oversimplification, however, to suggest that financial accounting reports never incorporate expectations concerning the future. Occasionally, businesses will release projected information to other users in an attempt to raise capital or to fight off unwanted takeover bids.
  • Range and quality of information. Financial accounting reports concentrate on information that can be quantified in monetary terms. Management accounting also produces such reports, but is also more likely to produce reports that contain information of a non-financial nature such as measures of physical quantities of inventories (stocks) and output. Financial accounting places greater emphasis on the use of objective, verifiable evidence when preparing reports. Management accounting reports may use information that is less objective and verifiable, but they provide managers with the information they need.

We can see from this that management accounting is less constrained than financial accounting. It may draw on a variety of sources and use information that has varying degrees of reliability. The only real test to be applied when assessing the value of the information produced for managers is whether or not it improves the quality of the decisions made.

The distinction between the two areas reflects, to some extent, the differences in access to financial information. Managers have much more control over the form and content of information they receive. Other users have to rely on what managers are prepared to provide or what the financial reporting regulations state must be provided. Though the scope of financial accounting reports has increased over time, fears concerning loss of competitive advantage and user ignorance concerning the reliability of forecast data have led businesses to resist providing other users with the detailed and wide-ranging information that is available to managers.

What Is Car Body Glass Coating?

Glass coating is an inorganic material made of a Silica or a Quartz-Silane-based compound. It is used to protect the painted surfaces of car bodies. It is less likely to stain. Unlike traditional wax, its luster and protection can be long-lasting once it is applied. This is because they do not contain materials that oxidize (bind with oxygen). Oxidation weakens the original protection and shine of many car products, thus rendering the car surface prone to damage. It is easy to maintain, provides clean, shiny surfaces and long-lasting protection.

What is the difference between coating and wax?

The main component of wax is carnauba wax oil, which is extracted from palm trees. In recent years, some waxes have added petroleum. Higher quality waxes contain more carnauba oil. Carnauba wax is oil based, so it has water-repellent characteristics and can obscure scratches. However, there are also disadvantages. Waxes can easily become dirty because oil has a high viscosity (thick and sticky). This means dirt can stick to it. Also, wax can easily melt and deteriorate because it is sensitive to heat. Sunshine or engine heat can promote deterioration and cause wax to melt off the car’s surface. Wax can also break down in the rain or when the car is washed.

On the other hand, coating has a chemical composition of silicon, silica, fluorine and titanium. These molecules form a film coating that penetrates between the molecules of the car’s painted surface, creating a very powerful protective layer. Resistant to dirt, heat and rain, coating’s protection and shine will last over a longer period than wax.

There are various kinds of coatings that range in application complexity from simple, which any consumer can apply, to products for professional use only.

During its application, if the car’s surface is dirty and rough, materials will not adhere to car body paint, so surface preparation before application is important.

Types of Glass Coatings

Glass-based coatings can be broadly divided into two categories: quartz-silane based coatings and silica-based coatings.

The quartz-silane-based glass coating, also known as “completely cured glass film type” achieves very high gloss and strong durability. It protects the car body by creating a cured coating of silica on the car’s surface. However, it takes about three weeks for the coating to be fully cured, which is a drawback. It is also expensive because it takes a long time for the product to be formulated.

The silica-based glass coating, also known as “glass fiber type “, also makes a film, coating the surface of the car body. It is fixed to a silicon polymer molecule. It is an easy formulation and, therefore, is costs less to produce. However, its durability and water repellency is inferior compared to the quartz-silane-based.

In addition, some of the fluorine-based coatings, such as Teflon, are used to coat car bodies. They are excellent in durability. However, they are inferior compared to glass coatings and more expensive to formulate. As a result, glass coatings are on the cutting edge of technology’s focus of exploration.

A Glass Coating Hybrid

Currently, there is debate about whether hydrophilic (attracts water) products are more effective than hydrophobic (repels water) products for car care. Glass is hydrophilic. The new types of glass coatings are hybrids, adding a silicone resin layer to the existing glass layer to change the hydrophilic trait of glass to hydrophobic, thus creating a strong water repellant product.

Which Wood is Best For Outdoor Furniture – Teak Or Cedar?

If you are looking to landscape your backyard, reinvigorate your tired porch or patio, or even create a warm and welcoming living area out of that new deck, you may need some new furniture.  After all what good is having a great place to entertain if your guests don’t feel comfortable while they’re there?  When you need a few chairs to fill some space on the porch, or that plush, comfortable, deep seating sofa for the veranda, chances are that Teak or Cedar will be your best choice for this outdoor living furniture.  Which to choose will depend on a variety of factors however most importantly you will need to consider the look you are hoping to achieve, maintenance required, and the price you can expect to pay in order find the best fit. So read below and you’ll be lounging by your new poolside bar in a new sun lounger in no time at all!

The Look

One of the most important features of any new furniture is the appearance that it gives off.  Is your outdoor patio living space better suited for a rustic appeal or luxurious contemporary style?  Perhaps neither.  Maybe just a simple, yet warm, elegance speaks to you more.  But whether you’re looking to create a fun, relaxing environment with a pool side bar and some sun loungers or a simple conversational seating area you will have many choices with both Teak and Cedar.

Cedar usually has a very natural look, accenting your living area with soft red, light brown, and gray tones.  Lightweight and porous, cedar can easily accept a stain, sealer, or even paint, but most commonly is left in a raw finely sanded finish to preserve its natural look, feel, and smell.  Cedar is aromatic by nature which not only adds to the ambiance of a relaxing evening, but also helps preserve and protect the wood from insects and weather.

Teak is almost the polar opposite of cedar in terms of just about everything.  Teak is by nature a hardwood and as such, is more dense and heavy than cedar.  Grown exclusively in subtropical and tropical regions, and most commonly in the dense jungle of Indonesia and other Asian countries, teak is almost always imported and therefore is also more rare.  As a result of the exoticism associated with teak furniture it has achieved a perception of rarity and wealth and thus portrays a look of luxury and prestige.   Teak outdoor furniture is commonly purchased in one of two ways.  It can either be oiled, to achieve a darker “stained” look, or it can be left in its natural unfinished state where it will gracefully age and turn a soft patina gray color.  This color, unique to teak furniture, contributes to its exotic appeal.

Maintenance

Another very important factor to consider when deciding to purchase outdoor patio furniture is the level of maintenance that you wish to employ in living with your new furniture.  Luckily the maintenance factor, or lack of, is one of the main reasons that both teak wood and cedar wood are top choices of furniture manufacturers and consumers. 

Cedar, by nature is a very resilient wood whose properties help to resist weather of all climates but specifically heavily climates with heavy precipitation.  Snow, sleet, and rain are no concern for the long lasting properties of cedar, which will maintain its brilliance for many years.  This is one of the reasons why leaving cedar furniture in a sanded unfinished state is by far the most popular finish.  Like with many other woods though, some wish to finish their cedar furniture to achieve an altogether different look.  Several refinishing options are listed below in order of popularity.

  1. Stain - many prefer the finished look of a nice stain on their outdoor furniture.  The benefits of using a stain include being able to change the color of the furniture to virtually any color for which stain is available.  Stains are now offered in many shades through the dark to light color spectrum.  The stain may also provide a slight protection from the elements although with cedar it’s not really necessary and so mainly should just be used to alter the color.  The disadvantages of stain are that in order to maintain the original stained look, the stain needs to be reapplied every 2-3 years as the stain itself is not as resilient against the suns UV rays and weather elements as the wood is.
  2. Sealer – some prefer to “lock in” the natural look of their cedar furniture and so choose to use a high end sealer.  Sealers are made by many companies and are available at any hardware or big box store.  The sealer will prevent the cedar patio furniture from fading and will slow down the aging process.  Keep in mind though that this aging is often a desired affect of the cedar.  The downside to sealing the cedar furniture is consistent with the drawback to using a stain.  In order to maintain its effectiveness, it must be reapplied every 2-3 years which can be tedious and cumbersome.
  3. Paint – like any wood surface, cedar can be painted with a fine outdoor wood paint.  This is not as common as staining or sealing the furniture because paint will crack and chip, and also drastically alters the appearance of the furniture from its natural state.  Once the paint cracks and chips the entire painted surface must be completely sanded and repainted, sealed, or stained.

Teak is also a very weather resistant and ultra resilient wood due in part to its propensity to secrete a natural teak oil which helps to self condition it and protect against the harsh demands of a wet and/or humid climate.  Many shipbuilders choose teak as a main wood for the decks of their ships for this very reason.  Many sunken ships have been raised from the depths of the ocean only to show the teak beautifully preserved and in tact.  It’s this property that makes teak more commonly found in its natural unfinished state as there is no functional reason to apply any external finish to the surface.  Some customers however choose to apply additional amounts of this teak oil to achieve a darker more stained look.  While this will preserve the “new” look of the furniture it must be reapplied every 2-3 years to maintain this appearance and so can become burdensome.  Also by leaving the teak in its natural state, the often desired patina gray look is naturally achieved where it cannot be, if a teak oil or other finish is applied to the surface of the furniture.

Price

While price is often a concern for consumers, sometimes it is not such a factor for consumers of wood patio furniture.  As with everything else, price is a measure of perceived value.  The more valuable a product is perceived to be in the mind of the consumer, the more it will cost.  This reason alone is why both teak and cedar patio furniture are generally more expensive than other common outdoor furniture materials such as plastic, wicker, or rattan furniture.  Teak and cedar themselves have a price difference too though which can be quite significant depending on the individual furniture item.  Here’s why.

Cedar – because of its lightweight, proximity, ease to harvest and availability, cedar is the cheaper choice of the two wood furniture types.  While it will last a long time and is very durable, typically teak will last longer.

Teak – for all of the reasons opposite cedar, teak is the more valuable wood.  Simply not having the availability of cedar or other woods helps to create this elite, rare, sort of feeling that teak carries with it, which raises the price.  The purchase of teak furniture is often perceived as a sign of affluence or wealth because teak has a widely known reputation for commanding a higher price.  More expensive to harvest, more expensive to ship, and its long lasting appeal coupled with its novelty together contribute to its higher cost to produce which in turn creates a higher price for the consumer.

In summary, “better” or “best” can only be determined by the customer.  However taking appearance, maintenance, and price into consideration, teak and cedar can easily be compared and contrasted for similarities and differences.  Cedar, the more light weight, commonly used wood makes great patio furniture because of its ability to resist insects, rot, and weather elements (specifically rain, sleet, and snow) and also because it is relatively inexpensive to produce.  Teak, the hardwood of the two, is more exotic, rare, and will last longer.  Therefore, it commands a higher price, but also delivers a greater perceived value in terms of prestige, longevity, and maintenance free ownership experience.

How to Get Him to Care Again

When you've been with someone long enough, it's so easy to fall into the "we-are-too-comfortable" trap. It's simply inevitable. While there is nothing wrong with being comfortable with your partner, sometimes we forget that in order for a relationship to keep growing, we have to keep working hard. You start the relationship with passion, your man can not stand being away from you but now you're lucky if he does not forget your birthday or your anniversary. Everything seems to be too familiar. It's not that you do not love each other anymore; It's just that every relationship goes through this phase. Are there any ways on how to get him to care again?

You know that the honeymoon is over if you see him coming to bed in his super old unflattering boxers and you really do not care about taking a shower at night anymore. You do not find yourself making the effort to look good because you do not think it still matters to your partner how you present yourself. If you want your man to look at you the same way he did when you first started dating, you have to get out of your comfort zone. Do some things that he would not expect you to do. If you've never watched a basketball game together and he's been begging you to go to the games, book season tickets. This will make him very happy and he will certainly appreciate the gesture.

Take a trip down memory lane and figure out how your man fell in love with you. Do the same things you did when you first met him. Get him a token that will remind him of the first time you met or the first time you went out. It could have been a copy of the movie you saw or a box of the same chocolates he sent you when he was still pursuing you. You can also surprise him with an intimate dinner at your favorite restaurant when you first started dating. Be creative and romantic. If he cares about you, he would want to reciprocate. Thank him and tell him you appreciate everything he does for you. Acknowledge his efforts no matter how small they are.

If you want your boyfriend or husband to care for you again, make him feel that your feelings have not changed and you still love him the same way you did years ago, if not more. Show him that you are still the same woman he fell in love with, even better. Ask yourself what your partner loved most about you and maybe you can do something to remind him of that. Whether it's your sense of humor, sunny disposition or careful attitude that drawn him to you, it will not hurt if he gets to see these qualities again. Make your partner feel special by doing nice things for him. Leave some sweet notes in his car like "I can not wait to see you tonight" or "I'm the luckiest woman alive because I have you". Sometimes as simple as "I love you" will do the trick. Do not ever stop telling each other "I love you".

When it comes to how to get him to care again, you have to keep thinking of ways on how to keep the fire burning. No matter how busy you are, make it a point that you have an "alone time" together. Set aside time for him and have a date night every week. Do not take each other for granted and if possible, make your partner feel special every single day. Prepare a romantic dinner for two and cook all his favorite meals. Plan an exciting getaway that will allow you to try new things. Whatever it is that you have to do to entrust the magic, do it!