As Part of a Careers in Accounting Program Sponsored by Accounting

question 223

Essay

As part of a Careers in Accounting program sponsored by accounting organizations and supported by your company, you will be taking a group of high school students through the accounting department in your company. You will also provide them with various materials to explain the work of an accountant. One of the materials you will provide is the Equity section of a recent statement of financial position.
Required:
Prepare a sentence or two explaining each major section: Share Capital, Share Premium, and Retained Earnings. You should try to be brief but clear.

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Definitions:

Structural Unemployment

A form of unemployment caused by fundamental changes in the economy that reduce the demand for certain skills or labor.

Petroleum Refinery

A processing plant where crude oil is transformed into various usable petroleum products such as gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas.

Oil to Natural Gas

The transition or conversion from using oil as a primary energy source to using natural gas, often due to environmental, economic, or supply considerations.

Structurally Unemployed

Individuals who are unemployed due to their skills not matching job requirements or significant shifts in the economy.