Influenza A (H1N1) virus VS. SARS

Severe Acute Respiratory Syndrome (SARS; pronounced /sɑrz/, sarz) is a respiratory disease in humans which is caused by the SARS coronavirus (SARS-CoV).^[1] There has been one near pandemic to date, between the months of November 2002 and July 2003, with 8,096 known infected cases and 774 deaths (a case-fatality rate of 9.6%) worldwide being listed in the World Health Organization's (WHO) 21 April 2004 concluding report.^[2] Within a matter of weeks in early 2003, SARS spread from the Guangdong province of China to rapidly infect individuals in some 37 countries around the world.^[3]

Mortality by age group as of 8 May 2003 is below 1 percent for people aged 24 or younger, 6 percent for those 25 to 44, 15 percent in those 45 to 64 and more than 50 percent for those over 65.^[4] For comparison, the case fatality rate for influenza is usually around 0.6 percent (primarily among the elderly) but can rise as high as 33 percent in locally severe epidemics of new strains. The mortality rate of the primary viral pneumonia form is about 70 percent.

As of May 2006, the spread of SARS has been fully contained thanks to the efforts of the WHO, with the last infected human case seen in June 2003 (disregarding a laboratory induced infection case in 2004). However, SARS is not claimed to have been eradicated (unlike smallpox), as it may still be present in its natural host reservoirs (animal populations) and may potentially return into the human population in the future.

Influenza A virus subtype H1N1, also known as A(H1N1), is a subtype of influenzavirus A and the most common cause of influenza (flu) in humans. Some strains of H1N1 are endemic in humans, including the strain(s) responsible for the 1918 flu pandemic which killed 50–100 million people worldwide. Less virulent H1N1 strains still exist in the wild today, worldwide, causing a small fraction of all influenza-like illness and a large fraction of all seasonal influenza. H1N1 strains caused roughly half of all flu infections in 2006.^[1] Other strains of H1N1 are endemic in pigs and in birds.

Influenza A virus strains are categorized according to two proteins found on the surface of the virus: hemagglutinin (H) and neuraminidase (N). All influenza A viruses contain hemagglutinin and neuraminidase, but the structure of these proteins differs from strain to strain due to rapid genetic mutation in the viral genome.

Influenza A virus strains are assigned an H number and an N number based on which forms of these two proteins the strain contains. There are 16 H and 9 N subtypes known in birds, but only H 1, 2 and 3, and N 1 and 2 are commonly found in humans.

Balance Sheet

This is a financial statement which shows the financial position of an enterprise as of a particular or
specific date. This measures and evaluate in terms of the enterprise ' liquidity, solvency, financial structure and capacity for adaption. Liquidity is the ability of the enterprise to meet currently maturing for obligations. Solvency is the availability of cash over the longer term to meet maturing obligations. Financial Structure is the source of financing for the assets of the enterprise. It indicates how much is borrowed capital and how much is equity capital.Capacity for Adaptation is the financial flexibility of the enterprise to use its available cash for unexpected requirements and investment opportunities.

A balance Sheet shows the assets, Liabilities and Owner's Equity. This answers the following questions:
a.) How much is the business owns? (Referring to the assets)
b.)How much the business ows?( Referring to the liabilities)
c.) How much is the business net worth? (Referring to the Owner's equity)
The claims of both owner and creditors over the total assets of the business are called "equities".
The period covered in the Balance Sheet is worded " As of...."
A balance sheet is of two (2) forms, namely:
1.)Account form- this is form of balance sheet that is patterned after the Accounting Equation A=L+OE wherein the assets are shown at the left side while Liabilities and Owner's Equity at he right side. This is referred to as the " Balance Sheet in a horizontal order" and is used when there are plenty of accounts involved.
2.)Report form- in this form of a balance sheet, the assets are shown first and followed by Liabilities and Owner's Equity in a "vertical Order" and is used when there are a few accounts involved.

Philippine Accounting Standards (PAS) No.1 does not prescribe the format of the balance Sheet. Assets can be presented showing current liabilities can be presented before non-current liabilities or vice-versa and then the equity.

What are Financial Statement?

The accounting data that were gathered and stored in the books of accounts when transformed into a report form, these become "financial statements". Financial statements, therefore, are the "end products" of the accounting process. It provides information about the financial position, performance and cash flows of an enterprise which is vital in making a second economic decision. These financial statements can serve its purpose if prepared and communicated on time. There are five (5) basic financial statements, namely: Balance Sheet, Income Statements, Statement of Changes in Equity, Statement of Cash Flows and Accounting Policies and Notes to Financial Statements.

Business and Accounting

How Important Accounting in Business?
Although business is meant for profit, ti is of central importance in our economic society today because as we all know, there are so many people who depend their means of livelihood on employment in various business establishments. The direction and future success of its operations depends to a great extent on the ability of the business owners' or management to render decisions in behalf of the business.

Accounting provides business owners and management with information essential to the efficient conduct and evaluation of its activities. It gathers data which are of financial in character, stores, these data in the books of accounts and transforms them into a more meaningful source of information concerning the financial position, performance and cash flows from business operation as well. It is then, that financial statements are communicated to various users which include investors, employees, lenders, suppliers, and other trade creditors, costumers, government and their agencies and public and analyzed and interpreted through the accountants who are the only knowledgeable expert professionals in this field where accounting justifies its importance in the world of business.