Answer:
All accounting process are important.
Explanation:
All the recording of facts are important because the recording of facts enables the company to look the company with a financial perspective. In this scenario the accounting system can be used to see which store has generated more than the rest of the stores and will help CFO to reward the staff and use their tactics to implement in the other stores to increase the efficiencies of other stores.
Answer:
At the end of March, Paul’s Painting hired five temporary employees to work on a project that began on April 5 and ended on April 28. Paul’s received 100% of the total payment for the project on May 3. In this situation, both cash basis accounting and GAAP require that Paul’s recognize the employees’ total salary expense in April.
Explanation:
A collection of accounting rules and standards usually followed, for financial reporting is known as GAAP (generally accepted accounting principles) .
For businesses, GAAP needs accrual accounting.
Accrual accounting operates on the basis of matching both revenue and expenses. Revenues and the related expenses occur concurrently, though the cash transaction concerning thereto might happen in some other period.
In the situation given in the question, the revenue from the project is earned in April, subsequently, the salary expense related to that work should also be recognized in the same period due to an accrual basis.
Answer:
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Answer: A blue ocean type of offensive strategy involves abandoning efforts to beat competitors in existing markets but instead invest a new market segment or industry whereby existing competitors are irrelevant and one which allows a company to create and capture nee demand (Option C)
Explanation:
Blue ocean strategy is the pursuit of differentiation and low cost by firms in order to create a new market space and demand. Blue ocean strategy is about the creation and making use of uncontested market space, which therefore makes competition irrelevant.
Blue ocean strategy are used for industries that are not in existence today, industries that tap the unknown market space and are untainted by competition. The blue oceans gives room for growth as demand is created and not fought for. A blue ocean strategy describes the wider potential and benefits to be enjoyed when an unexplored market is explore.
Some of the key environmental variables are market fluctuations, changes in government policy, inflation, and technology and economical factors. The impact of these changes on the HRM function may either be positive or negative depending on the type of changes.
The HRM function cannot perform its duty in a vacuum. There are a number of environmental factors that affect HRM. The factors that are of primary importance that affect working are economic conditions, labor markets, laws and regulations, and labor unions. Other factors may be the political changes and the environmental changes that take place.
The environmental variables can be broadly divided into technological, cultural, political, social, and legal factors. While these external factors' influences are often outside the HRM's control the HRM is required to address their effect on the organization and its goals. Some of the other factors can be ethical and global factors.
Learn more about key environmental variables here:
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