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BP resumes oil siphon at leak, Obama poll numbers down
Reuters - 23 minutes ago
By Jeremy Pelofsky WASHINGTON, June 24 (Reuters) - BP Plc (BP.L)(BP.N) resumed collecting oil from its leaking Gulf of Mexico well on Thursday after a temporary setback while a poll showed the environmental disaster is draining public confidence in US ...
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Of course, those looking to adopt a new approach to managing their finances will be faced with a whole range of products to choose from. So what are the differences between these and how can each be used to improve your financial situation? Well, the two main types of account people will no doubt be aware of are savings and current accounts. The former might be a good idea if you are looking to set aside cash for a special purchase or occasion. But the best way to make sure this works well in the first place is to make sure you are happy with the latter - as this can help you manage all your day-to-day transactions.But when it comes to having access to your income, although a current account is absolutely essential, some people will opt for a basic facility initially that is limited in the way it can be accessed. But further down the line, you may find you need to open one that has 24-hour online banking as this lets you do things like check your balance, make instant payments and much, much more. In addition, many providers will allow you to manage your overdraft, debit card or loan repayments by using your internet banking - which means that have one central place that can form the hub of all of your finances.If you have an account thaOf course, those looking to adopt a new approach to managing their finances will be faced with a whole range of products to choose from. So what are the differences between these and how can each be used to improve your financial situation? Well, the two main types of account people will no doubt be aware of are savings and current accounts. The former might be a good idea if you are looking to set aside cash for a special purchase or occasion. But the best way to make sure this works well in the first place is to make sure you are happy with the latter - as this can help you manage all your day-to-day transactions.But when it comes to having access to your income, although a current account is absolutely essential, some people will opt for a basic facility initially that is limited in the way it can be accessed. But further down the line, you may find you need to open one that has 24-hour online banking as this lets you do things like check your balance, make instant payments and much, much more. In addition, many providers will allow you to manage your overdraft, debit card or loan repayments by using your internet banking - which means that have one central place that can form the hub of all of your finances.If you have an account that already fits in with your own financial requirements, you may not think that an online facility is worth putting on your agenda. However, those that do so might find it is easier to browse what is available to them in terms of credit cards, loans or mortgages. In many cases you might want your provider to show you what type of things are available to you and in being able to apply online using your existing details you may find the process much quicker and more convenient. Many providers now place a great deal of emphasis on helping their customers set up a unified financial solution in this way, something that may work particularly well once a relationship between the two parties has been established.t already fits in with your own financial requirements, you may not think that an online facility is worth putting on your agenda. However, those that do so might find it is easier to browse what is available to them in terms of credit cards, loans or mortgages. In many cases you might want your provider to show you what type of things are available to you and in being able to apply online using your existing details you may find the process much quicker and more convenient. Many providers now place a great deal of emphasis on helping their customers set up a unified financial solution in this way, something that may work particularly well once a relationship between the two parties has been established.

There are general rules and concepts that govern the field of accounting. These general rules—referred to as basic accounting principles and guidelines—form the groundwork on which more detailed, complicated, and legalistic accounting rules are based. For example, the Financial Accounting Standards Board (FASB) uses the basic accounting principles and guidelines as a basis for their own detailed and comprehensive set of accounting rules and standards.



The phrase "generally accepted accounting principles" (or "GAAP") consists of three important sets of rules: (1) the basic accounting principles and guidelines, (2) the detailed rules and standards issued by FASB and its predecessor the Accounting Principles Board (APB), and (3) the generally accepted industry practices.



If a company distributes its financial statements to the public, it is required to follow generally accepted accounting principles in the preparation of those statements. Further, if a company's stock is publicly traded, federal law requires the company's financial statements be audited by independent public accountants. Both the company's management and the independent accountants must certify that the financial statements and the related notes to the financial statements have been prepared in accordance with GAAP.