General Electric

world-wide electric Corporation General Electric (GE) is a wholeiance that is diverse in technology, media and financial services. GE has been committed in creating products and services to improve the way of life. Today, GE is operating in about six different operating segments which include Infrastructure, Healthcare, Industrial, NBC Universal, commercial-grade Finance and Consumer Finance. GE operates in to a greater extent than 100 countries and employs more than 300,000 people worldwide. General Electric traces it roots to Thomas A Edison, who established Edison Electric Light Company in 1878. In 1892, a merger of Edison General Electric Company and Thomson-Houston Electric Company created General Electric Company. GE is the only company listed in the Dow Jones Industrial Index today that was also include in the original index in 1896. Methods of bill schedule: tout ensemble of GEs financial statements are nimble in consistency with U.S. Generally Accepted Accounting Principles (GAAP). All inventories by GE are stated at the light of cost or realizable respects. monetary value for substantially all of GEs U.S. inventories is set on a last-in, first-out (LIFO) basis. Cost of other GE inventories is determined on a first-in, first-out (FIFO) basis. General Electric Capital Services, Inc.

(GECS) inventories consist of finished products held for sale, and cost is determined on a FIFO basis. Depreciation and amortization: The cost of GE manufacturing plant and equipment is depreciated over its estimated sparing life. U.S. assets are depreciated employ an accelerated method based on a sum-of-the-years digits ordinance; non-U.S. assets are depreciated on a straight-line basis. The cost of GECS equipment leased to others on operating leases is amortized on a straight-line basis to estimated residual value over the lease term or over the estimated economic life of the equipment. In conclusion, I have learned that accounting principles and practices is a... If you want to get a full essay, order it on our website: Orderessay

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