Final Accounts

Total Assets

non-current assets + current assets

Total liabilities

Current liabilities + non-current liabilities

net assets

total assets - total liabilities

equity

share capital + retained earnings

annual depreciation

(original cost - residual value) / expected useful life of asset

Redrick Winslow Taylor

Believed that standardization of work methods and enforced adoption of the best ways of working were hot to ensure that output would be maximized in the shortest possible time.

Abraham Maslow

Proposed the hierarchy of human need

Fredrick Herzberg

Developed a two-factor theory of motivation based on hygiene needs and motivation needs. Hygiene needs are those factors that provide dissatisfaction at work if they are not attended to. If these needs are met it is unlikely to lead to motivation.

McCelland

Theorized employees have three needs: Achievement, Affiliation, and Power