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Descriptive Research Report

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Thalia Rhine Aberte
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16 views

Descriptive Research Report

Uploaded by

Thalia Rhine Aberte
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Descriptive

Research
- This type of
research
aims at
defining or
giving a
verbal
portrayal or
picture of
person,
thing, group,
event,
situation etc.
This
research has
means in
discussing
new
meanings,
describing
what exists,
determining
the
frequency
with which
something
occurs and
categorizing
information.
Importance
of
Descriptive
Research
1. Contribut
es to the
formulation
of
principles
and
generalizati
ons in
behavioural
science.
2. Descripti
ve research
reveals
problems
or
abnormal
conditions.
3. Descripti
ve research
gives a
better and
deeper
understandi
ng of a
phenomeno
n.
4. Descripti
ve research
provides a
basis for
decision-
making.
5. Descripti
ve research
makes
possible
the
prediction
of the
future on
the basis of
findings on
prevailing
conditions,
correlations
.
U.S. law allows for four forms of business organizations: sole proprietorships,
partnerships, limited liability companies and corporations. A sole proprietorship is a
business owned by one person. Many small service enterprises, retail stores and
professional practices are operated as proprietorships. The owner is the legal owner
of its assets, is legally liable for its debts and is entitled to all the earnings of the
proprietorship. From an accounting standpoint, however, the business is treated as a
separate entity from its owner.

Balance Sheet
The balance sheet of statement of financial position reports the financial position of a
business, including a sole proprietorship, at a specific point in time. The financial
position of a sole proprietorship is shown by the amount of the assets held, its
liabilities and the amount of the owner's capital. The balance sheet of a sole
proprietorship indicates the name of the business, the name of the statement and the
date of the statement. It can be drawn in horizontal or vertical format.

Statement of Financial Performance


The statement of financial performance, also known as the income statement or
trading account, reports the results of earnings activities for a specific time period,
such as a month, quarter or year. The net income of the sole proprietorship is the
excess of revenues over expenses for that time. If expenses exceed revenues, the
sole proprietorship incurs a net loss. Revenues are the increases in owners' capital
from the sale of goods or the performance of services. Other types of revenues
include interest, dividends and rental income. Expenses are the costs incurred in the
course of carrying out the business.

Statement of Changes in Owner's Equity


The statement of changes in owner's equity serves as a link between the balance
sheet and the income statement by explaining the changes that took place in owner's
equity or capital during the period covered. The statement shows the beginning
amount of equity, the events that increased it, i.e., new investments and net income,
and the events that decreased it, i.e., net loss or withdrawals.

Statement of Cash Flows


The fourth financial statement of a sole proprietorship is the statement of cash flows,
which describes where the cash came from and where it went during the period. It
also shows how much cash was on hand at the beginning of the period and at the
end. This information is crucial to the sole proprietor because good cash
management is essential for the prosperity and eventual survival of the business.

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