accounting review - 6920 Words

A company had a beginning balance in retained earnings of $44,500. It had net income of $7,500 and paid out cash dividends of $6,000 in the current period. The ending balance in retained earnings equals: $13,500. $6,000. $58,000. $46,000. $43,000. Shamrock Company had net income of $37,380. The weighted-average common shares outstanding were 8,900. The company sold 3,900 shares before the end of the year. There were no other stock transactions. The companys earnings per share is: $2.92. $9.58. $4.20. $7.48. $5.36. Shamrock Company had net income of $36,520. The weighted-average common shares outstanding were 8,800. The company declared a $3,500 dividend on its noncumulative, nonparticipating preferred stock. There†¦show more content†¦The total amount of paid-in capital in excess of par is: $100. $1,100. $2,000. $11,000. $13,000. A companys board of directors votes to declare a cash dividend of $1.10 per share. The company has 22,000 shares authorized, 17,000 issued, and 16,500 shares outstanding. The total amount of the cash dividend is: $18,150. $24,200. $23,200. $36,850. $18,700. $1.10 Ãâ€" 16,500 shares = $18,150 A corporation declared and issued a 15% stock dividend on November 1. The following information was available immediately prior to the dividend: Retained earnings $700,000 Shares issued and outstanding 55,000 Market value per share $20 Par value per share $5 The amount that contributed capital will increase (decrease) as a result of recording this stock dividend is: $(41,250). $165,000. $(165,000). $0. $41,250. 55,000 shares Ãâ€" 0.15 = 8,250 shares Ãâ€" $20 = $165,000 A corporation had 40,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $24. The entry to record this dividend is: Debit Retained Earnings $80,000; credit Common Stock Dividend Distributable $80,000. No entry is made until the stock is issued. Debit Retained Earnings $96,000; credit Common Stock Dividend Distributable $80,000; credit Paid-In Capital in Excess of Par Value, Common Stock $16,000. Debit RetainedShow MoreRelatedManagerial Accounting Review Ch 8 121760 Words   |  8 PagesAgenda – Submit term projects to TURNITIN ASAP – Assignment #2 due April 1st 1159pm †¢ List the coauthor’s name in the subject line. †¢ Teaching Evaluation †¢ Transfer pricing (cont.) – Stanco Inc. †¢ Review chapters 11 and 12 the practice final – Practice Q1 and Q2 †¢ Review chapters 8 and 9 and the practice final – Practice Q3 and Q4 ACTG 2020 Week 11 1 †¢ Online Course Evaluations (ONCE)/ Seymour Schulich Teaching Excellence Awards (Schulich TEA) – TEA: http://schulich.yorku.ca/tea. – ONCE:Read MoreComprehensive Review in Accounting19880 Words   |  80 Pageson a stock exchange is the primary responsibility of a. The stock exchange officials. b. The company s management. c. The independent auditor. d. The Securities and Exchange Commission. 7. The responsibility for adopting sound accounting policies, maintaining adequate internal control, and making fair representations in the financial statements rests a. With management b. With the independent auditor c. Equally with management and the auditor d. With the internalRead MoreLipton Case Review - Mba Managerial Accounting Essay examples2360 Words   |  10 Pagesentity. | IMPROVE | * Share results with product line managers * Are there any red flags associated with a product line? * Use information to minimize costs by properly utilizing FA across both divisions. | * Are there any red flags? * Review FA cost on a division and company level | Big Picture Goal: Assign Total Fixed Costs to each Division Added Benefit: Discover product line contribution to Fixed Asset Costs and cost minimization. Allocations can be used to assign CRV adjustmentRead MoreAccounting Information - Article Review1580 Words   |  7 PagesArticle Review Journal of Accountancy UMUC Accounting Information Systems 326 Professor T. Wood December 4, 2011 Cloud Computing: What Accountants Need to Know, (Journal of Accountancy, Oct 2010). This article answers the questions that Accountants and CPA should be asking themselves in regards to the new technology that is growing fast. Cloud technology is growing so fast that, cloud services revenues were expected to surpass $68 billion dollars in 2010, which was almost aRead MoreReview of Accounting Ethics Essay1045 Words   |  5 PagesReview of Accounting Ethics Establishing principles for ethical behavior frequently starts with a policy on ethics. Businesses acquire a policy on ethics to guide their measures and to set up a general meaning of correct versus incorrect. According to the American Library Association, code of ethics is a handbook for suitable behavior (2012). Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is moreRead MoreCritical Review : Determination Of Accounting Standards1678 Words   |  7 PagesCritical Review Determination of Accounting Standards Ross L Watts Jerold L Zimmerman have put together this article on accounting standards and on the basis of moderately relative accounting theories and interpretations- tried exploring various factors that persuade business entities in lobbying on accounting standards. The size of the companies is also researched and concluded upon their approach towards certain accounting standards. The Data used in the article is derived from FASB’s discussionRead MoreAssignment 1 Review of Accounting Ethics1637 Words   |  7 Pagesï » ¿ Assignment 1 Review of Accounting Ethics Strayer University Financial Accounting ACC 557 May 1, 2013 Assignment 1 Review of Accounting Ethics Imagine trusting your hard-earned money like your retirement savings to a financial adviser or Certified Public Accountants (CPA) only to lose it all in a fraudulent Ponzi scheme. In today’s world of business many organizations, financial planners and accountants are in the news due to the financial ethical breaches that have affectedRead MoreCritical Review of Principles-Based Accounting Standards1324 Words   |  6 PagesIntroduction Schipper (2003) who is a member of FASB conducted a study on the rules-based and principles-based accounting standards. The aim of this article is to discuss the attributes and potential effects of transferring from rules-based standards to principles-based standards. To some extent this article is critical, but several limitations need to be discussed, such as implementation guidance. Summary Schipper (2003) demonstrated that there was a long-running debate on whether U.S. GAAPRead MoreRiordan Manufacturing Accounting And Finance Review Essay706 Words   |  3 PagesRiordan Manufacturing Accounting and Finance Review The Finance and Accounting departments within the three operating entities of Riordan Manufacturing are vastly different. Each is managed independently, not only of each other but of the corporation sector as well. The Georgia, Michigan and California branches operate different business systems for their ledgers, accounts, orders, procurement, sales history, invoicing, payroll and all financial reporting. The process to get this informationRead MoreStandards for Accounting and Review Services, and CPA: Quiz2439 Words   |  10 Pagesfirms or to consulting on accounting matters. See AR 100 for these and additional services to which the SSARS do not apply. 54. Statements on Standards for Accounting and Review Services establish standards and procedures for which of the following engagements? a) Assisting in adjusting the books of account for a partnership. b) Reviewing interim financial data required to be filed with the SEC. c) Processing financial data for clients of other accounting firms. d) Compiling an

Applying Swot Analysis for Effective Planning - 1858 Words

Applying SWOT Analysis for Effective Planning By Betty McQuilla Okocha December 24, 2012 Professor Lisa Bradill GM500 Introduction The objective or purpose of applying a SWOT diagram as a planning tool in business is to have a platform of doing business or having a through picture of a business plan. Applying SWOT diagram as a planning tool has helped me to work out the strengths, threats, benefits and strategy of achieving financial prosperity in business. (Draft, 2012/2010, p. 209) I have learned that using the SWOT method as a planning tool will help me in working out an effective way and strategy to solidify my business plan with proper research, and thinking through it before setting the ball rolling for execution. Understand†¦show more content†¦His experience and knowledge in business will help to put this business to the road of achieving financial prosperity in the future. Exporting used cars to Nigeria is a business venture I and my husband have been working hard to setup. We have put a lot of things into consideration before coming to a conclusion of choosing to set this business up in Nigeria. One of the reasons is based on the fact that Nigeria has a big market for American used cars in the whole of Africa. Next is the opportunities, market potentials and the economic gains are very high. We also intend to use the population of Nigeria and their love for quality American used cars to our advantage. My strategy which is the most important aspect of succeeding in this business is to get my local bank to finance this business. Also with the knowledge, experience and expertise my husband has in business, involving him to become parts and parcel of this business will help me to drive this business to the road of achieving financial prosperity in the near future. Analysis The internal strength to this business is getting to work with my husband as partners in progress. Working with him will be an added plus and also a chance to associate with the best in the field thereby, having an opportunity to open up more windows of business opportunities. Having access to the American used car industry is something that weShow MoreRelatedStrategic Planning Within Ge927 Words   |  4 Pagesstrategic planning process is the formulation of the company’s major objectives and execution plans. This process is of particular interest in GE. Strategy formulation is the process of choosing the best methods for a company where customer needs; competitive position and internal capability are the three factors that play the main role in strategic planning. Every manager needs to have at least a simple notion of strategic planning to formulate his strategic plans. Strategic Planning is a wide andRead MoreStrategic Planning Within General Electric Essay900 Words   |   4 Pagesstrategic planning process is the formulation of the company’s major objectives and execution plans. This process is of particular interest in GE. Strategy formulation is the process of choosing the best methods for a company where customer needs; competitive position and internal capability are the three factors that play the main role in strategic planning. Every manager needs to have at least a simple notion of strategic planning to formulate his strategic plans. Strategic Planning is a wide andRead MoreDss, Information And Technology Personnel Essay1206 Words   |  5 Pagesthat are affordable, easy to develop and maintain, and satisfy all the requirements that DSS has defined for them (Software engineering, n.d., para 1). Clearly, the software engineer will have to conduct an analysis of our requirements and current software capabilities to design the most effective system for our needs. Next, DSS will have to hire a web developer to present the best picture of DSS online and to further our business development. According to one source, a web developer is a programmerRead MoreEvaluation Of A Sdlc, System Development Life Cycle1329 Words   |  6 Pagesnext step. The first step is called Systems Planning and starts when the IT department does a systems request. This phase is responsible for doing a preliminary investigation to know the situation and evaluate the necessity of this new system. The principal part of this investigation is called feasibility study and it is responsible for showing anticipated reviews of the costs, benefits and course of action. The second step is called Systems Analysis and it purpose is to build a document with theRead MoreSwot Analysis : The Swot1215 Words   |  5 PagesThe SWOT analysis was originally introduced by Andrews Christiansen, Guth and Learned in 1969 and its basic organizing principles have remained largely unchanged in the field of strategic management. [BADEN-FULLER, C. H. A. R. L. E. S., STOPFORD, J. (2002). The Firm Matters More than the Industry. Strategy for Business: A Reader, 123.] It is a systematic framework which helps managers to develop their business strategies by appraising their in ternal and external determinants of their organization’sRead MoreStrategic Management, Compensations And Employment Concepts1610 Words   |  7 Pagesis crucial to being an effective owner and manager. Understanding creativity, innovation, motivation, the strengths and weaknesses of employees, roles of management, and the different styles of leadership are all important functions of management. Also, a manager must understand the organization itself. The roles and responsibilities of top, middle and front-line management, to become a franchise or not, and the effects all leaders have on the different levels of planning are just a few more ofRead MoreEnvironmental Analysis of an Adult Day Care967 Words   |  4 Pagesresidential home. ï ¿ ½ ENVIRONMENTAL ANALYSIS OF AN ADULT DAY CARE According to Bryson and Alston (1996), the best way to carry out this plan is to use the SWOT methods which translate to Strength, Weakness, Opportunities, and Threats. The provider must not only use this for the external environment but it is just as important to use this method for the internal environment of the organization or providers office. The SWOT method should be included during business planning because it allow for added valueRead MoreEnvironmental Analysis of Target Corporation1196 Words   |  5 PagesEnvironmental Analysis of Target Corporation Darylisha Jones STR/581 September 12, 2011 Tonicia Riley Environment Analysis of Target Corporation Target Corporation is one of the largest merchants in the world. Target is recorded to be the sixth largest retailer within the United States. Founded by, George Dayton in 1902 Minneapolis, Minnesota. Target stores have a variety of products which includes everything from clothing to automotive and electronics. It is a corporation thatRead MoreStrategic Management, Compensations And Employment Concepts Essay1660 Words   |  7 Pagesis crucial to being an effective owner and manager. Understanding creativity, innovation, motivation, the strengths and weaknesses of employees, roles of management, and the different styles of leadership are all important functions of management. Also, a manager must understand the organization itself. The roles and responsibilities of top, middle and front-line management, to become a franchise or not, and the effects all leaders have on the different levels of planning are just a few more ofRead MoreStrategic Management Tools1707 Words   |  7 P agesconsideration of five strategic management process tools: SWOT Analysis, Financial Ratio Analysis, Benchmarking, Core Competencies and Value Chain Analysis; and how these contribute to strategic management and strategic thinking in an organisation. A SWOT analysis is generally used in decisions about the direction a company is taking. It is a tool also used regularly to develop a strategic plan for an organisation. The major focus of SWOT analysis is to ‘recognise opportunities and avoid threats, while

Informal Proposal - 2161 Words

Methods in Management Wal-Mart, Sysco and Costco Written by: Alaia Fayad, Alexa Brooks and Olaf Sindabizera For: Linda Jay BUS 150 Table of Contents Decision Making 3 Strengths and Weaknesses 5 Cultural Organization 6 Environmental Factors 6 Adapting to Change 6 Organizational Training 7 Conclusion 7 Bibliography 9 Decision Making Decision making is an important process of any company’s growth strategy and each decision is made with careful calculation and analyzation of the company’s data. Although there is some variation to the way information is processed as it reaches the top of any company the decision making process is more or less similar between Costco, Wal-Mart and Sysco. If I was in the process of†¦show more content†¦Are goals being accomplished?) and lastly management control works on the improvement of substrategies that contribute to the master plan (principally quality control). Finally, feedback control deals with focusing on the outputs of the organization. This type of control is used when feedforward (predicting output and avoiding complications) and concurrent control (resolving problems as they occur) methods have failed. It is the most fail-safe way for a manager to gain reliable information on planning and performance. If the feedback control method is successful, the manager can use this information when formulation new plans to make them more effective. This is also a good way to boost employee motivation by creating new goals as a team. Although feedback control, clan control and scenario planning have all proven to be effective when implemented with Wal-Mart and Costco, Sysco has a different decision making approach. Instead of manually going through all the steps to gain the same information with all these various control methods, Sysco has recently purchased a scientific marketing technology platform that essentially does the work for them. Scientific marketing technology joins together human intuition with advanced quantitative methods to deliver a technology that predicts future outcomes and can facilitate resolving the most challenging problems in sales and marketing. Essentially, this platform matches each customer to their perfect product withShow MoreRelatedProposal For Implementation Of A Corporation With Informal Quality Management System Essay2933 Words   |  12 PagesProposal to implement QMS in the company. QUCC 24th October 2014 Student ID no 27010953 â€Æ' 1 EXECUTIVE SUMMARY Introduction The company is a growing cleaning company with informal quality management system. The company can get more benefits in the future if the formal QMS process is implemented in it. Legal requirements The company is a cleaning company which attract the various legislations in its daily operation. The implementation of formal QMS will help the company to run with proper harmonyRead MoreJessWesterly CaseAnalysis1102 Words   |  5 PagesOrganization Management (Winter-2015) Table of Contents 1. Case Abstract 3 2. How effective has Jess Westerly been in taking charge an assistant product owner at Kauflauf? 3 3. Why did her first attempt to change sales call pattern fail? 4 4. Does her proposal to change call patterns make sense? Why or why not? 4 5. What action should she takes to ensure that her next attempt to change call pattern to succeed? 5 1. Case Abstract Jess Westerly joins Kauflauf GmbH as an assistant Product Owner in the computer/officeRead MoreEssay about proj 5871717 Words   |  7 PagesYou are proposing a process, not individual projects. The deliverable for Part 1 is a written proposal for the project selection criteria and a high level description of a proposed portfolio management process. You may also be expected to make an informal presentation of the report in class. The proposal should be in the form of a memorandum to your Vice President (your instructor) outlining your proposal. The memorandum should be no more than 10 pages, including any figures and tables. It shouldRead MoreGetting On The Conference Program And Writing A Practical Article1090 Words   |  5 Pages2013) and â€Å"Recommendations for Writing Successful Grant Proposals: An Information Synthesis† (Wisdom, Riley, and Myer, 2015). In the article â€Å"Recommendations for Writing Successful Grant Proposals: An Information Synthesis,† Wisdom, Riley, and Myer (2015) â€Å"applied standard information synthesis procedures for sifting abstracts, scrutinizing full texts, and abstracting data† to provide ten recommendations for â€Å"promoting faculty grant proposal success in academic medical settings.† The method theyRead MoreFormal And Informal Relationships Within Organizations1070 Words   |  5 PagesFormal and informal relationships coexist within an organization’s social structure, leadership, and authority. While formal organizations reflect the rules and procedures of the organization, informal organizations (i.e. collectives) structure around groups and families without the explicit rules and procedures of the prior. Although different in structure and role, an organization’s official hierarchy and its informal social networks is intertwined. Organizations cannot functio n without its peopleRead MoreNta Case Analysis Essays1498 Words   |  6 Pagesthey became more self sufficient in their work. Before the involvement of Ralph in the NTA room the organization had a structure that was very formal due to which the workers in this department were unable to discuss and solve their problems. The informal structure set up by Ralph in his team made them more productive and responsive in every way. By improving in their department and by learning the processes of the other jobs, the workers have been able to organize themselves in such a way that theRead MoreIQRA UNIVERSITY RESEARCH CENTER (IURC) IQRA UNIVERSITY-IU RESEARCH PROPOSAL Thesis-1 Research700 Words   |  3 PagesRESEARCH PROPOSAL Thesis-1 Research Title: Controlling Grey Market Leakage to Improve Supply Chain Profitability Introduction (literature based): Informal sector of any economy comprises of all production of goods and service which contributes to official gross national product but not in books of government or officials. Shadow economy, black/grey economy, underground economy, parallel economy, ‘off the book’ and ‘under the table’ comes under a larger umbrella of informal sector. WithRead MoreEvaluating The New Process For Managing Priorities At Volkswagen Of America1851 Words   |  8 Pages2004 proposal list and included them on 2005 or 2006 lists. Phase-2: Formal project requests from business units. †¢ The proposals from each business unit categorized projects in terms of i)type of investment they represented and ii) the type of technological application involved Phase-3: Transforming business unit requests into enterprise goal portfolios †¢ Converting the emerging business-unit-focused project portfolio into an enterprise-focused portfolio. Some business unit project proposals wereRead MoreSan Isidro Elementary School Computerized Grading System (Sies-Cgs)3051 Words   |  13 Pagesgrade and â€Å"B† (short for â€Å"Beginning†) as the lowest. In the event that this format will be fully implemented in the target school, which in this proposal will be San Isidro Elementary School, the workload of the teachers will be increased because they will have to compute for the numeric equivalent of each letter grades. The proponents of this proposal wish to reduce their workload by eliminating the need for manual computation and recording of each grade. The common problems encountered in manualRead More3521 Unit 1 Essay example10967 Words   |  44 PagesCommunication in English Unit 1 Planning project proposals Unit 1 Planning project proposals Learning outcomes At the end of the unit, you will be able to: †¢ †¢ †¢ †¢ plan and organise project proposals explain the background, objectives and method of a project refer to the literature to justify a project proposal use appropriate language in project proposals Introduction Part of the work involved in a research project is the writing of the project proposal. The proposal is a brief account of the topic or area

Industrial Revolution Essay Paper Example For Students

Industrial Revolution Essay Paper Word Count: 969THE . The Industrial Revolution is the name given to the movement in which machines changed peoples way of life as well as their methods of manufacture. About the time of the American Revolution, English People began to use machines to make cloth and steam engines to run the machines. Sometime later they invented locomotives. Productivity began a steep climb. By 1850 most Englishmen were laboring in industrial towns and Great Britain had become the workshop of the world. From Britain the Industrial Revolution spread gradually throughout Europe and to the United States. The most important of the changes that the Industrial Revolution brought were:1. The invention of machines to do the work of hand tools. 2. The use of steam, and later of other kinds of power, in place of the muscles. 3. The adoption of the factory system. The Industrial Revolution came gradually. However, when measured against the centuries people had worked entirely by hand, it happened in a short span of time. Until the inventions of the flying shuttle in 1733 and the spinning jenny in 1764, the making of yarn and the weaving of cloth had been much the same for thousands of years. By 1800 a host of new and faster processes were in use in both manufacture and transportation. Several systems of making goods had grown up by the time of the Industrial Revolution. In country districts families produced most of the supplies that they used, while in the cities merchandise was made in shops, and manufacturing was strictly regulated by the guilds and by the government. The goods made in these shops were limited and costly. The merchants needed cheaper items, as well as larger quantities, for their growing trade. They had to establish another system of producing goods. The cottage or domestic industry filled in the gap for some time, because it gave the merchant a large supply of manufactured articles at a low price. It provided employment for every member of a craft workers family and gave jobs to skilled workers who had no capital to start businesses for themselves. A few merchants who had enough capital had gone a step further. They brought workers together under one roof and supplied machines. These establishments were factories. After centuries of the craft guilds and the government having controlled commerce and industry, began the belief that it was better to let business be regulated by the free play of supply and demand rather than by laws The English government started to leave business free to adopt the new inventions and the methods of production which were best suited to them. The new methods increased the amount of goods produced and decreased the cost. British merchants no longer found it a problem to obtain enough goods to supply their markets and, at times, the markets were flooded with more goods than could be sold. As conditions in industry changed, social and political conditions changed with them. Cities grew rapidly, and the percentage of farmers in the total population declined. A person had to have a lot of capital to buy machines and open a factory. The men who controlled these enterprises formed a powerful new class in England called industrial capitalists. Due to the laissez-faire, factory owners could arrange working conditions in whatever way they pleased. Grave difficulties arose for the workers. They had problems with working hours, wages, unemployment, accidents, employment of women and children, and housing conditions. The revolution began in England for various reasons. English merchants were leaders in developing a commerce. There also were new ideas in England which aided the movement, such as the growing interest in scientific investigation and invention. Another was the doctrine of laissez-faire, or letting business alone. It was especially popular after Adam Smiths demanded it in The Wealth of Nations (1776). .u18b7424bb3597f6a809644d3652824b7 , .u18b7424bb3597f6a809644d3652824b7 .postImageUrl , .u18b7424bb3597f6a809644d3652824b7 .centered-text-area { min-height: 80px; position: relative; } .u18b7424bb3597f6a809644d3652824b7 , .u18b7424bb3597f6a809644d3652824b7:hover , .u18b7424bb3597f6a809644d3652824b7:visited , .u18b7424bb3597f6a809644d3652824b7:active { border:0!important; } .u18b7424bb3597f6a809644d3652824b7 .clearfix:after { content: ""; display: table; clear: both; } .u18b7424bb3597f6a809644d3652824b7 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u18b7424bb3597f6a809644d3652824b7:active , .u18b7424bb3597f6a809644d3652824b7:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u18b7424bb3597f6a809644d3652824b7 .centered-text-area { width: 100%; position: relative ; } .u18b7424bb3597f6a809644d3652824b7 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u18b7424bb3597f6a809644d3652824b7 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u18b7424bb3597f6a809644d3652824b7 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u18b7424bb3597f6a809644d3652824b7:hover .ctaButton { background-color: #34495E!important; } .u18b7424bb3597f6a809644d3652824b7 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u18b7424bb3597f6a809644d3652824b7 .u18b7424bb3597f6a809644d3652824b7-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u18b7424bb3597f6a809644d3652824b7:after { content: ""; display: block; clear: both; } READ: My Trip to Disney World EssayThe Enlightenment and the Industrial Revolution. The Liberalism and the Capitalism are fed by Individualism. For instance, a free market requires openness in which people sell and people buy. The free trade is a Liberal idea, an idea of the eighteenth century. The work in the factories changes from collective, as it used to be in the farms and in the villages, into individual. Individualism is a major Icon