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2 years ago

In your own words, what are the strengths and

Business

1 answer:

german2 years ago

5 0

Answer:

Advantages

Helps in Scheduling : 

One of the greatest benefits of forecasting is that it helps the manager to prepare for the organization's future. Currently, planning and forecasting go hand in hand. We will not prepare for it without an understanding of what the future holds for the business. Forecasting, therefore, plays a very significant role in planning.

2) Changes to the Climate :

Prognostics should be able to point out the potential environmental changes when performed correctly. This implies that it will allow the organization to benefit from such environmental changes. It can develop and grow its business if the changes are beneficial to the company. And it may intend and prepare to defend itself in adverse circumstances.

3) Weak Spots Detection:

Another benefit of forecasting is that it can help the manager find any weak points that the company may have or overlooked areas. When attention has been drawn to these areas, successful controls and preparation strategies to fix them can be put into practice by the manager.

Disadvantages:

1) Factors Time and Cost 

There is usually a lot of data and knowledge needed to make structured forecasts. And, there is a lot of time and money involved in the processing and tabulation of such results. Another aspect is also the translation of qualitative data into quantitative data. One must be cautious that the forecasting time, resources, and effort expended must not overshadow the real benefits of such forecasts.

2) Based on Forecasts 

Assumptions, approximations, natural conditions, etc are the basis of every forecasting system. This renders those predictions inaccurate. So, the inherent weaknesses of forecasting must always be kept in mind and everyone has to be careful about being over-reliant on them.

3) Just Estimates 

The future will be unpredictable at all times. Even if the best methods of forecasting are used and every factor possible is accounted for a prediction is still just an estimation. With 100 percent effectiveness, one can never predict future events. So even the best-laid plans can be nothing at all. This will still be one of forecasting's greatest constraints.

Hope it helps.

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Yuki888 [10]

Answer and Explanation:

1. When there is high uncertainty in the market, there will be high yield spreads. This is because the higher the risk the higher the profit or compensation for risk

2.preferred stock positions pay more consistent dividends that common stock positions and also pay higher than bonds.

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3 years ago

Abe Lincoln was scheduled to give a speech that was rumored to be better than his Gettysburg Address. Many citizens were plannin

Assoli18 [71]

Answer:discharge by frustration of purpose

Explanation:

Discharge by frustration of purpose is a defense concept used in law in order to bring about a breach or termination of a contract.This occurs when unplanned,spontaneous or unforeseen circumstances occurs and thus,it prohibits or prevents the core reason in which the contract was being entered into at the time of the contracts agreement,with both parties fully aware of the core reason which brought about the establishment of the contract.That is to say,the primary objective in which the contract was being created upon has automatically brought about a halt of the secondary reason(which is the contract itself),having in mind that both parties were originally aware of the primary reason for entering the contract.

Here,Paul and Patti Smith rented a room an amount triple it's original price because they were so excited to hear Lincoln speak. A day before Lincoln's speech, he was assassinated.So this disappointment brought about a "discharge by frustration of purpose" by the Smiths,not forgetting that that The bed and breakfast knew it was their original intent,that's why they paid such exorbitant prices for the room rental,although it sued them.

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3 years ago

Factors that can effect prices could include advances in technology, changes in prices of raw materials or new government taxes.

lisov135 [29]

It is true that factors that can affect prices could include advances in technology, changes in prices of raw materials or new government taxes.

6 0

3 years ago

When a perpetual inventory system is used, the unit costs of the items sold are known at the date of each sale. In contrast, whe

vlada-n [284]

Answer and explanation:

The statements are correct because using the perpetual inventory system implies recording purchases and returns at the same moment items are received or sold. The Cost of Goods account is updated every time their inventory exists. On the other hand, the periodic inventory system records buying or selling activities following a schedule that could be every month, quarter or once per year. The Cost of Goods account is used occasionally.

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3 years ago

Skysong, Inc. began the year 2022 with retained earnings of $670000. During the year, the company sold additional shares of stoc

vlada-n [284]

Answer:

$787,000.

Explanation:

Skysong, Inc. generated a profit of $248,000 (633,000 - 385,000) during the year 2022. This amount has a credit balance in income statement, closing it would require a debit to it and a credit entry to match the debit is made to Retained Earnings account which is an item of Statement of Owners' Equity. Statement of Owners' Equity is a report that represents the Equity section of balance and accounts for any changes in the owners' equity during a period. The items included in this statement are Capital, Paid-up Capital, Retained Earnings, and Drawings. To calculate the ending balance of Skysong's retained earnings, we have to prepare a statement of owners' equity.

Statement of Owners' Equity

Capital Retained Earnings

Opening Balance - $670,000

Additional Stock $1,005,000

Profit for the Year 248,000

Dividends Paid (131,000)

Closing Balance $1,005,000 787,000

⇒ Skysong's retained earnings will be reported at $787,000 at the end of 2022.

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3 years ago