Chapter 12 - Specialised Journals

Think iPood is funny? That's money in her pocket

In an economical crisis, Seeing Is Believing novelty store, owned by Grace Lam, is doing just fine on sales like the economy was in a good condition. The store manger noticed consumers continuing to buy gifts for their friends and family and they don’t mind the price when those gifts brighten up their day. Their main customers ranging from the ages of 18-25 who has the most disposable income spend the most and the store earn the most from that group. During an economic downturn, people tend to be pessimistic but with a store full of laughter and happiness, the sadness is all gone.

Even though the article doesn’t directly connect to Chapter 12, but it is somewhat linked to which journal system should be preferably used for the company, which should be the synoptic journal. Seeing Is Believing isn’t a large corporation to have a large accounting department to computerize their transaction but instead they can use a human produced synoptic system to record their transactions. They owned 5 stores in Victoria and now it is down to 2. With only 2 stores left, they wouldn’t need an accounting department to do the accounting work, so a few accountants would be okay to finish the job. Also, their entries are routine transactions so they wouldn’t need someone specialised to do the work.

This is an article doesn’t have a large impact on me but looking around me, many stores are being impacted by the downturn of the economy. I can see small and large stores are in a struggle to keep itself in business and large banks, like in the U.S., are having trouble because of bankruptcy. When I start earn my own money, I will realise a bad economy will be hard times for everyone. Hearing many suicides caused by the downturn of the economy is depressing. Consumers should buy more to support the economy and bring it back to where it was before or better.

http://www.canada.com/vancouversun/news/business/story.html?id=0321364b-51ee-45b6-b42b-bd24b3632c1c