Name: Thuy Anh Nguyen November 6‚2012 1. Conditions for profit maximization are: a) Difference between total revenue (TR) and total cost (TC) is maximized; b) Marginal revenue (MR) should be equal to marginal cost (MC) Explanations: If we assume that the company is facing a downward – sloping curve and it produces just one single product a) Profit = TR – TC. Profit will increase if TR increases and TC decreases. If company wants profit maximization‚ it should be TR maximization and TC minimization
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Profit and loss accounts‚ balance sheets Profit and loss accounts‚ balance sheets Two of the most important financial statements for a business are the Profit and Loss Account‚ and the Balance Sheet. The Profit and Loss Account shows the profit or loss of a business over a given period of time e.g. 3 months‚ 1 year‚ etc. In contrast‚ the Balance Sheet is like a photograph taken at an instant in time giving a picture of what the business owns and what the business owes at that moment in time
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company departments from the Decisions menu. You have four main departments: Research & Development or R&D (where you revise and invent products)‚ Marketing (where you price your products‚ establish sales and promo budgets and enter forecasts)‚ Production (where you schedule manufacturing runs)‚ and Finance (where you ensure your company has the funds it
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banking (2) 2 has the highest receivables and payables (both note payable and account payable). It has no raw materials‚ work in progress and finished goods‚ which are characteristics for a bank. B. Retail industry Lots of inventory‚ low gross profit percentage Retail grocery stores(1) 1 has the lowest gross margin ratio‚ a high inventories‚ no work in progress. Therefore 1 has the attributes of Retail industry. C. High Technology High R&D There are three companies which has high R&D expenditures
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Identify and describe three strategies you can use to manage your time. Create a Prioritised to do list. To do this‚ first you must identify the goals or current tasks and list them. Then you must prioritise them on a scale of 1 to …. (1 as the most important)‚ considering urgency and difficulty. Create a work Schedule. This is a list of tasks that have all been allocated a timeframe in which to be completed or contributed to. These schedules can be reviewed and also set out on a daily‚ weekly or
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INCREAS PROFITABILITY OF BRANCH profit center Definition A business unit or department which is treated as a distinct entity enabling revenues and expenses to be determined so that profitability can be measured. Distinctly identifiable department or unit that contributes to the overall financial results of a firm. Where adequate cost accounting systems are in place‚ profit centers are given responsibility to target certain percentages of the total revenue and are given adequate authority
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markets can offer farmers increased profit over selling to wholesalers‚ food processors‚ or large grocery firms. This‚ due to the fact that the middlemen are locked out of the chain.[3] By selling directly to consumers‚ produce often needs: less transport less handling less refrigeration less time in storage By selling in an outdoor market‚ the cost of land‚ buildings‚ lighting and air-conditioning is also reduced or eliminated. Farmers may also retain profit on produce not sold to consumers
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Profits With no Cash University Dr. Sep 10‚ 2014 Profits With no Cash It is regularly a common thing in business to make profits without having any cash due to several aspects of business. This is happening by the non-cash flow adjustments that are recorded as transactions while no cash flows are involved. It is possible to make business transactions without cash involvement. In credit transactions‚ cash is not usually transacted but the transactions are usually recorded therefore if
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“Father of Profitability.” He was the first to describe in detail the double-entry bookkeeping‚ a process that plays an integral role in the development of capitalism as it allows us to calculate profits (Fischer‚ 2000). According to Pacioli‚ the hallmark of a successful business is what he calls the profit motive. This is the notion that successful business men and women must acknowledge and be influenced by the spiritual aspects of their lives. Or more specifically‚ Pacioli maintained that business
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CP-206: PRODUCTION AND OPERATIONS MANAGEMENT Production & Operations Management: Production is the process by which raw materials and other inputs are converted into finished products. The essential feature of production is to bring together people‚ machines and materials to provide goods and services and thereby to satisfy the wants of people. Since both manufacturing and service organizations involve the above-mentioned features‚ the term production management is gradually replaced by the
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