Whenever an individual is doing work for a division of an organization, it is important to transmit information to other divisions and the supervisors. The executive vice president wanted information on stock values therefore the memo should have been professional and correct. The data in the memo should have a description to the organizational officials. The use of jargon in a memo is not professional. Jargon, rubber stamp, and clichés are usual for accountants to use when they are interacting with other accountants. Rubber stamps convey the result of usual treatment, unlikely to win over readers positively. This kind of treatment inform readers that the author does not have particular concern for them, and the current case is dealt with in the same manner as others (Rentz, Flatley, & Lentz, 2011).
Summarized under are the modifications in the interoffice memo pertaining to the accounting jargon and abbreviations. The interoffice memo requested that we provide a review of last in/first out (LIFO) against first in/first out (FIFO). The memo alters from casual to official while revising the data.
In this instance, the memo is about the FIFO and LIFO techniques and the outcomes of the techniques of the organization. Description is needed for each valuation technique with regard to the profit and loss on the income statement as well as the cost of goods sold (COGS). The final part regarding the legal action by Macy’s is not required to incorporate since this information has no effect on the retail industry’s inventory valuation techniques.
The accounting jargon of elastic pricing as well as an inflationary economic time alters to professional phrasing. In the matter of elastic pricing, it will be suitable to say that the company’s rates are flexible within the industry requirements. Thus, the inventory techniques must reflect this to keep a profit. As getting into a time the rising cost of living, inflationary economic times have...