involvement, definition consistency, ability to inventory, patentability Competition in OM • Product and service design, process and capability, quality, inventory and materials, quick response and flexibility, supply chain management, sustainability Productivity: Performance measurement of the effective use of resources ∝ 1/cost Goods/Services produced Inputs used to produce them Flow Time (FT): Time taken for unit to flow through entire process = 1/Inventory Turns Flow Rate (FR): Throughput/output rate
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Acct 210 Midterm 1. List 3 different users (stakeholders) of financial statement information. Shareholders Investors Government Agencies 2. Describe the main difference between Financial Accounting and Managerial Accounting. Reports to those outside the organization: 1. Owners 2. Lenders 3. Tax Authorities 4. Regulators Emphasize financial consequences of past activities Emphasize objectivity and verifiability Emphasizes precision Emphasize summary data concerning
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Unit 1 Introduction to Financial Accounting Learning Outcome After reading this unit, you will be able to: • Explain succinctly financial accounting concepts • Elucidate on different principles of financial accounting • Explicate the importance and scope of financial accounting • Understand Generally Accepted Accounting Principles(GAAP) • Identify limitations of Financial Accounting Time Required to Complete the unit 1. 2. 1st Reading: It will need 3 Hrs for reading a unit 2nd Reading
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lOMoARcPSD Exam 28 March 2013 FINANCIAL ACCOUNTING FOR INTERNATIONAL BUSINESS Income Statement = Total revenues of a company minus the company’s total expenses during a certain so-called accounting period. NET INCOME = REVENUES – EXPENSES Income Statement Revenues -Expenses =Net Income Revenues = increases in stockholder’s equity resulting from selling goods, rendering services, or performing other business activities. Expenses = decreases in stockholders’ equity resulting from the
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A REPORT ON INVENTORY MANAGEMENT IN DIGILINK Submitted by MONIKA AGARWAL Regd No. – 09KB045 in partial fulfillment for the award of the degree of PGDM program at Krupajal Business School, Bhubneshwar UNDER THE FACULTY GUIDE : UNDER THE COMPANY GUIDE : Sushant Mishra Mr. Mourya Banerjee KBS, Bbsr Territory Head-North East
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FINANCIAL ENVIRONMENT Components of Financial Environment Financial environment consists of three main components * Financial Managers who determine how to invest a firm’s funds to capitalize on potential opportunities. They also determine how to obtain the funds needed to finance their respective firms’ investments. * Financial Markets that facilitate the flow of funds from the suppliers of funds to firms or governments who need funds. Financial institutions serve as intermediaries
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Accounting Presentation Group members The Accounting Information of System The Personnel, procedures, devices, and records used by an organization to develop accounting information and communicate that information to decision makers The accounting process Economic activities Accounting “links” decision makers with economic activities and with the results of their decisions. Decision makers Accounting information Actions (decisions) Types of Accounting Information
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opportunity to address the market demand by establishing drugstores or what is commonly known as pharmacies. Pharmacy is a place where drugs are properly utilized, prepared, and dispensed. It uses different resources such as human, financial and inventory resources in order to operate the business. Every pharmacy must have at least one pharmacist in order to comply with the requirements of the law but pharmacies that are big enough can hire a pharmacist as well as a manager. But some pharmacy owners
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Income Statement ACCT 304 Week 3 DQ 2 Cash-Flow Statement ACCT 304 Week 4 DQ 1 Revenue Recognition ACCT 304 Week 4 DQ 2 Time Value of Money Concepts ACCT 304 Week 5 DQ 1 Cash ACCT 304 Week 5 DQ 2 Receivables ACCT 304 Week 6 DQ 1 Inventory Classification and Systems ACCT 304 Week 6 DQ 2 Inventoriable Costs Cost-Flow Assumptions ACCT 304 Week 1 Homework Assignments Chapter 1: E 1-7 , Research Case 1-4 Chapter 2: E 2-4, E 2-8, E 2-12 ACCT 304 Week 1 Quiz 1. (TCO 1) Which of the following
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accountant or a business law/tax attorney. The Need for Accounting Every organization needs to maintain good records to track how much money they have, where it came from, and how they spend it. These records are maintained by using an accounting system. Accounting for Windows Accounting Basics • 5 These records are essential because they can answer such important questions as: • Am I making or losing money from my business? • How much am I worth? • Should I put more money in my business
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