Business transaction

In business transactions the parties should have a clear understanding of exactly what constitutes trade secret information and consider how the information will be used and who will retain ownership rights. If the transaction is a pure and simple sale, concerns over ownership may be meritless. However, such concerns might be weU-founded, if further research or commercial development involves similar information. It may also be necessary to consider whether the seUer should be allowed to compete against the buyer in ventures involving the same or related information. These are just some of the issues which arise with the sale of the trade secrets. 

Principles of Accounting Accounting is the art of recording business transactions in a systematic manner. Financial statements are both the basis for and the result of management decisions. Such statements can tell managers or engineers a great deal about their company, provided that they can interpret the information correctly. 

The clever combination of chemistry and microsphere technology enables advertisers to take advantage of the incredible marketing power of scent. These innovations have also modernized paper-based recordkeeping and business transactions. 

The collaborations rental support and stock keeping represent the overall business transactions our system is directly involved in. As we ve seen, we can refine them separately to individual actions, using event charts and so on to show the relationship between abstract and detailed collaborations. The more-detailed collaborations can be summarized as shown in Figure 5.9. 

Transactions Because each component potentially maintains its own persistent state information, business transactions must cross multiple components. A common mechanism is needed for coordinating such distributed transactions correctly. These transactions will be nested rather than flat. 

Now that we know how the requirement s model is represented in the components stuck together for the design, we can work out whether and how the required actions are properly catered to. We need to coordinate the business transactions across our ad hoc components. Let s look at makeOrder, addOrderltem, and confirmOrder. 

Fine chemicals are produced either in-house by pharmaceutical or other specialty chemical companies for their captive needs, or as sales products by fine-chemical companies. The latter account for about one-third of the total production value of 75 billion, and obviously for the totality of the trading volume (see Table 9.2). In business transactions, custom manufacturing (CM) prevails over straight trading of standard products. 

Depending on the type (standard vs. exclusive products) and the importance of a business transaction (small single-order vs. major multiyear supply contract), the levels of customer intimacy can vary between purchasing through the Internet with no personal contacts between the parties involved on one hand and frequent face-to-face meetings between the commercial (and other pertinent) functions of the involved companies on the other hand (see Figure 12.7) ... 

It enables organizations to protect the security of their communications and business transactions when using networks. PKI is used to secure e-mails, Web browsers, VPNs, and end applications. 

When recording business transactions, a debit entry represents an addition to an account, while a credit entry represents a deduction from an account. In more precise terms, a debit entry is one which increases the assets or decreases the equities, and a credit entry is one which decreases the assets or increases the equities. 

Separate ledger accounts may be kept for various items, such as cash, equipment accounts receivable, inventory, accounts payable, and manufacturing expense. A typical ledger sheet is shown in Fig. 5-5. The ledger sheets serve as a secondary record of business transactions and are used as the intermediates... 

Safety Data Sheets must be supplied to companies upon first business transaction for dangerous substances and preparations. The Safety Data Sheet summarises hazard data and the appropriate safety measure for use and disposal of the given chemical. Thereafter, suppliers and users share responsibility for updating a Safety Data Sheet. A Safety Data Sheet must usually be made available upon demand for professional users but not members of the general public. 

Analyzing entails examining business transactions that involve basic ongoing activities, such as investing personal cash or equipment into the business, purchasing supplies with cash or credit, and the like. 

The most popular statement is the income statement, also referred to as the profit and loss statement. This statement reflects the results of all business transactions over a period of time and is a summary of all the firm s earned revenue, i.e., income from sales and services less all expenses incurred, i.e., costs associated with the earning process. The income statement usually covers a specific period of time selected by the firm, generally called a fiscal period. The fiscal period basically describes a business year, e.g., beginning on May 1, 2002, and ending on April 30, 2003. Many firms use a calendar year extending from January 1 to December 31 of the same year as their fiscal year. 

Data warehouses have established themselves in the information flow architectures of business organizations for two main reasons firstly, as a buffer between operational and transactional tasks on the one hand, and analytical strategic tasks on the other secondly, to capture the history of business transactions for the purpose of archiving, traceability, experience mining, and reuse. 

Accounting systems have as input business transactions in their original form receipts and invoices. These business events are entered chronologically in a journal and then classified and posted in an appropriate account in a ledger. Pe-... 

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