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Revenue, cost and profit in income statement
How to calculate and use information on revenue, cost and profits in income statements 1. Revenue - Total sales 2. Cost of sale - Total...
IGBizStudies
May 27, 20212 min read
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What are sustainable development practices
Sustainable development practices adopting practices that are environmental friendly and socially responsible. Businesses can adopt...
IGBizStudies
May 26, 20211 min read
52
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What is quality control, quality assurance and total quality management
They are practices that ensures the quality of product. Quality Control Quality control removes defective output at the end of the...
IGBizStudies
May 25, 20211 min read
73
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How to decide on production methods?
Nature of product, size of market, demand needs, productive capacity
IGBizStudies
May 25, 20211 min read
73
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What is economies of scale and diseconomies of scale
Economies of scale happens when a business grow large enough to enable them to lower average cost, while diseconomies of scale happens...
IGBizStudies
May 25, 20212 min read
125
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What are lean production practices
Kaizen and Just-in-time
IGBizStudies
May 20, 20211 min read
114
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What influences pricing decisions
The three (3) major factors influencing pricing decisions are cost, supply and demand Cost refers to the cost of production, which...
IGBizStudies
May 5, 20212 min read
85
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What is opportunity cost
Opportunity cost happens when we forgo an alternative activity or use of resources to produce goods and services. The benefits from...
IGBizStudies
Apr 27, 20212 min read
118
0