Management has the responsibility to apply accounting standards when communicating with investors and creditors.
Management (or managing) is the process of overseeing the operations of a company, nonprofit, or governmental entity. It is both the science and the art of managing a company's resources.
Setting an organization's strategy and managing employee (or volunteer) efforts to achieve goals through the use of available resources, such as financial, natural, technological, and human resources, are included in management.
The terms "run the business" and "change the business" are used in management to distinguish between the continuation of the delivery of goods or services and the adaptation of those same goods or services to accommodate changing client demands - see trend.
The term "management" can also refer to managers, who are responsible for running a company.
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Answer:
inventory impairment/cost of good sold (p/l) $500
Explanation:
IAS 2 requires that inventory be initially recognized at cost including cost of purchase and other necessary cost incurred in getting the inventory to the location where it becomes available for sale.
Subsequently, the item of inventory is carried at the lower of cost or net realizable value (NRV).
Quantity Unit Cost Unit NRV Lower of cost/NRV Amount
Model A 100 $100 $ 120 $100 $10,000
Model B 50 $50 $ 40 $40 $2,000
Model C 20 $200 $210 $200 $4,000
Adjustment required = 50 ($50 - $40)
=$500
This posted as
Debit inventory impairment/cost of good sold (p/l) $500
Credit Inventory account $500
Internet like media you can share that you have a greeting card business and you can also use YouTube and make a video of you trying to advertise.
Yes it does. Unemployment is when a person isn't currently hired at a work pleace. If people are unemployed they are making no income so less people are in need of products so it lowers the demand.