Answer:
The planned purchases are given as $34,500 while the value of OTB is $28,900
Explanation:
The Planned purchases is given as
Planned Sales + Planned Markdowns + Planned End of Month Inventory - Planned Beginning of Month Inventory = Planned Purchases
So here the planned sales are 25000
The planned Reductions are 1500
The End of Month inventory is 88000
The Beginning of Month Inventory is 80000 So the value is given as
25000+1500+88000-80000= Planned Purchases
Planned Purchases =34500
The OTB is given as
OTB=Planned Purchases-Commitment
OTB=34500-5600
OTB=28900
A change in depreciation method is treated as a change in estimate that is achieved by a change in accounting principle, and is accounted for prospectively in the current and future periods.
The rules and regulations that businesses and other organizations must abide by when reporting financial data are known as accounting principles. These regulations standardize the terminology and procedures that accountants must employ, making it simpler to analyze financial data.
A unified set of accounting guidelines, methods, and standards known as generally accepted accounting principles (GAAP) were released by the Financial Accounting Standards Board (FASB).
The consistency that accounting principles establish enables more accurate and effective viewing of financial statements and reporting for businesses.
Learn more about accounting principles here
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Answer:
Incentive systems are so attractive to leaders who attempt to implement organizational change because they are powerful tools that can influence and motivate workers to embrace organizational change.
Explanation:
Incentive systems promote and encourage specific workers' actions or behavior. They are particularly used in businesses to motivate employees to adopt certain behaviors during a change transition by management. Studies have shown that if correct incentive systems are correctly selected, implemented, and monitored, they can increase team performance by an average of 44 percent. This improved performance makes incentive systems attractive to leaders who are implementing organizational changes.
Answer:
Doing the right task is known in management as performance.
Explanation:
Management ensures that the right tasks are performed by coordinating the various activities that help it to achieve goals. It also plans the right tasks to be carried out in order to achieve set goals and objectives. In doing all these, it also considers the cost and benefit to be incurred and derived respectively from executing its responsibilities. Management is always interested in minimizing costs while maximizing benefits. Management is also concerned with efficiency, by which it minimizes the wastage of resources (such as time, money, and efforts) and ensures optimum utilization of all its resources.
Answer: Controlling
Explanation:
Controlling is a management process which involves comparing the outcome of an organization's processes to the targets set for those processes beforehand, and taking corrective measures in case the outcome is deviating from the set targets. For example, a manager of a business running at a loss, can identify the cause of the loss and find ways of correcting the negative outcome.
