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bonufazy [111]
2 years ago
10

What accounting method should hariette choose when she runs the profit and loss report?

Business
1 answer:
Zinaida [17]2 years ago
4 0

Hariette should choose cash basis of accounting when she runs the profit and loss report. A company's reporting guidelines and practices for revenues and expenses make up its accounting method. Cash accounting and accrual accounting are the two primary accounting techniques.

Revenues and costs are recorded in cash accounting when they are received and paid. There are three different accounting methods: modified cash basis, cash basis, and accrual basis. Let's briefly review the fundamentals before we discuss which types of firms use certain accounting techniques.

If you only consider popularity, accrual accounting comes out on top since it is both the most popular and the most accurate techniques.

To learn more about accounting, click here.

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a) DIAPER market is witnessing a frenzy of activity by manufacturers launching brands, and petrochemical firms planning to produce superabsorbent polymers (SAPs) used in making disposable nappies.The disposable diaper market in the country is at a nascent stage, with extremely low consumption. However, the potential is huge, given the largest infant population in the world and a large, growing middle class with expanding disposable incomes. Diaper manufacturers and petrochemical companies seem to have realized the enormity of this emerging market.The Indian disposable diaper market is currently pegged at nearly Indian Rupees (Rs) 700m ($17.4m, E12.6m) and 30,000 tonnes/year, and is estimated to grow between 5-10% annually. It comprises brands like Huggies (60% market share) and Pampers (30%) from multinationals Kimberly Clark and Procter & Gamble, respectively. Domestic consumer products major Godrej's Snuggy is the third-largest brand of diapers in the Indian market, with a 10% share.

Procter & Gamble launched its $6bn (€4.4bn) diaper brand Pampers in India in December 2006. "Diapers is a focus area for the company in India and has huge potential," says Shantanu Khosla, managing director of Procter & Gamble India. The potential for Pampers is huge, as India has 45 million babies, the largest number of infants in the world, according to associate marketing director of Pampers J P Kuehlwein.

Godrej also has expansion plans. It acquired the Snuggy brand of diapers from Shogun Industries late last year. It has also recently formed a Rs200m joint venture with SCA of the UK for manufacturing and marketing of baby diapers in India, Nepal and Bhutan.

Most diaper brands continue to be imported, including Snuggy. Godrej outsources its diapers from a Chinese company and will continue to do so until volumes pick up.

Other companies are also getting into the act. India's third-largest software exporter, Wipro, is entering the diaper market, as is Malaysia's People & Gratt with its Shee Shee brand of diapers.

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b) , since the increase in price does not have a large impact on quantity demanded. If an increase in price causes a decrease in total revenue, then demand can be said to be elastic, since the increase in price has a large impact on quantity demanded.On the other hand, if the price for an inelastic good is increased and the demand does not change, the total revenue increases due to the higher price and static quantity demanded. However, price increases typically do lead to a small decrease in quantity demanded.

Price inelasticity is very beneficial for businesses and is important in understanding how they should formulate their pricing strategy. Price inelasticity offers firms greater flexibility with prices as the change in demand remains essentially the same whether prices increase or decrease. If the price goes up or down, you can expect consumers’ buying habits to stay mostly unchanged.

How Price Inelasticity Affects Demand

For price inelastic goods or services, the change in the amount demanded is minimal with respect to the change in price.

This can affect demand and total revenue for a business in two ways.

Less Overall Revenue

If the price for an inelastic good is lowered, the demand for that good does not increase, resulting in less overall revenue due to the lower price and no change in demand. This would indicate that the firm should not reduce the price of its goods as there is no beneficial outcome in doing so.

More Overall Revenue

On the other hand, if the price for an inelastic good is increased and the demand does not change, the total revenue increases due to the higher price and static quantity demanded. However, price increases typically do lead to

Explanation:

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