of the lower-of-cost-or-net realizable value (LCNRV) rule is based on both the expense recognition principle and the concept of conservatism. The expense recognition principle applies because the application of the LCNRV rule allows for the recognition of a decline in the utility (value) of inventory as a loss in the period in which the decline takes place. The departure from the cost principle for inventory valuation is permitted on the basis of
Premium Inventory Balance sheet
Business as a whole is the most important factor when speaking on the topic of the economy. If business did not exist then we would have to grow our own food‚ build our own cars‚ or even sew our own clothes. Many of us barely have the time to cook a meal during the day‚ so one can only imagine how hard life would be if we actually had to grow vegetables and slaughter animals just to survive. Coming from a culture that is always on the move‚ most of us do not even think about all of the things that
Premium Monetary policy Economics Federal Reserve System
Health and education of Autistic & underprivileged Children and Helping Cancer patients in Bangladesh. Our mission is to serve the afflicted/affected humanity whenever and wherever. We promote innovative solutions and are advocates for social responsibility. We work with people whose lives are dominated by extreme poverty‚ illiteracy‚ fatal diseases and other disabilities. We strive to bring about positive changes in the quality of life of the poor people and the autistic children in the society
Premium Poverty
Unit 1 – the Business Environment Assignment 1- Types of Business Task 1 Tesco is a private organisation from the UK. Tesco is a supermarket which provides people with things they need like food and drink. It provides people with both a product and a service. In competition with Tesco are the other three major supermarkets from the UK‚ Morrisons‚ Asda and Sainsbury’s. Sainsbury’s increased its market share over the past year‚ it grew from 16.4% to 16.6% and had a growth of 5.1%. The other retailers
Premium United Kingdom Tesco Business
The Profession of Business Administration There are many responsibilities involved in Department Management. You must have an education and hold certain skills to be successful in this career field. There are promotions available and salary increases if you earn them. You should have adequate communication skills and practice a lot of self-discipline and possess self-control. The main responsibilities of Department Managers are recruiting‚ training and managing staff. You are expected
Premium Management
Preface Summary Retailing environment is changing everyday. No one knows what will happening in the future. The most competitive mobile phone retailer Nokia lost it competence just in several years because it did not see the potential of the smart phones. So it is very important for retailers to adopt themselves to the retailing trends‚ everything happening in retail can make great difference. The report is about the future vision of a shopping centre in Leeuwarden
Premium Retailing Online shopping Electronic commerce
The teachers should help the students in selecting any one element of the following: 1. Changes witnessed over the last few years on mode of packaging and its economic impact. The teacher may guide the students to identify the following changes: a) The changes in transportation of fruits and vegetables such as cardboard crates being used in place of wooden crates‚ etc. Reasons for above changes.b) Milk being supplied in glass bottles ‚ later in plastic bags and now in tetra pack and through
Premium Coca-Cola Pepsi Cola
Unit four: Principles of supporting change in a business environment Assessment You should use this file to complete your Assessment. The first thing you need to do is save a copy of this document‚ either onto your computer or a disk Then work through your Assessment‚ remembering to save your work regularly When you’ve finished‚ print out a copy to keep for reference Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly
Premium Change Tour de Georgia 2008 singles
Working With People – Reflections Building positive working relationships with others : This course has opened up the opportunity to communicate more with staff and students‚ this opened up relations between them. It has made me understand the general feeling of students and staff on how the rewards scheme is run and I have then been able to communicate this to higher authorities within the school‚ thus enabling a line of communication between all levels. Building positive relationships within
Free Communication Writing Grammar
Unit 1 Exploring Business Activity Assignment 3 P5 In this essay I will be describing how three external factors are impacting upon the business activities and stakeholders of John Lewis and Oxfam. The first of the three external factors I have chosen is the credit crunch. The credit crunch is a decline in the availability of loans or a tightening of conditions required to take out a loan from banks. It also means that there are reductions on the interest rates set up by banks for saving
Premium Marketing Carbon dioxide Management