Managerial accounting vs financial accounting
In this article, we’ll explore the managerial accounting vs. financial accounting. Both play crucial roles in the business world, but they serve different purposes. So, let
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economics
What is Managerial Accounting? Functions, Tools, PDF included
Managerial accounting is the process of analyzing financial data and generating relevant information to support internal decision-making within an organization.
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What is Working capital? Definition, Formula, Types
Working capital is the difference between a company’s current assets and its current liabilities. In other words, it represents the amount of money a company has available to cover its short-term obligations and expense.
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What is Managerial economics? Definition, Scopes, Nature of managerial economics (PDF)
Managerial Economics can be defined as the branch of economics which deals with the application of various concepts, theories, and methodologies of economics to solve practical problems in business management.
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Human Resource Accounting: [PDF Inside] Method, 3 Major Aspects, Example, Objectives, Functions, Benefits, And Negatives
Human resource accounting is a type of accounting that focuses on measuring the value of a company’s human resources, such as its employees, in financial terms. The basic idea behind human resource accounting is that a company’s workforce is a valuable asset, just like its physical assets, and should be accounted for in a similar manner.
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What is Pricing? Types of Pricing Strategies, PDF
Pricing is a process of setting the value that a manufacturer will receive in the exchange of services and goods. If manufacturers set prices too high, they miss out on valuable sales. Set them too low, and they miss out on valuable revenue.
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Difference Between Sales and Marketing [PDF Included]
Sales are the delivery of products from the manufacturer to consumers in exchange for money and marketing is basically understanding the customer’s need and introducing products accordingly.
Sales basically follow a fragmented and product-oriented approach, whereas marketing follows an integrated and customer-oriented approach.
Sales focus on maximizing the seller’s profit but marketing focuses on generating profit through customer satisfaction.
Sales follow the push strategy and marketing follows the pull strategy.
The target audience of sales is both individuals and organizations, moreover, the target audience for marketing is the public.
The primary objective of sales is to influence the target audience to become a buyer, and the primary objective of marketing is to identify customers’ needs and make products accordingly.
Law of Demand and Supply: [PDF Included] Curves, Importance, Conditions, & Factors Affecting Demand and supply
The law of supply and demand is possibly one of the most essential concepts and it is the backbone of an economy. According to the law of demand and supply, when there is a higher demand for a product or service, there is a rise in the supply of such product or service and vice versa. The law of demand and supply describes the interaction between the desire for a product and the supply of that product. For example, if the supply of a product is low and the demand is high, it signifies such product is lacking for the number of people that desires it, therefore, it will lead to an increase in the price of the product.
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Manufacturing Resource Planning (MRP II): [PDF Inside] Elements, Advantages, Disadvantages, MRP I VS MRP II
Manufacturing Resource Planning (MRP II) is a technique for the effective planning of all manufacturing resources of a company. It enables manufacturers to develop a precise production schedule for the future that minimizes expenses and maximizes the utilization of available resources.
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Accounts Receivable (AR) [PDF Inside]: Definition, Example, Turnover Ratio, Advantages, Disadvantages, & Account Payable
Accounts receivable (AR) is the balance of money due to a firm for goods or services provided, but not yet paid for by consumers. Accounts receivables are recorded on the balance sheet as a current asset.
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