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Conflict Process consists five stages that show how conflict within the organization begins, grows, and unfolds among different individuals or groups.
We apply the conservatism principle and use LCM to reduce inventory to a more realistic value and, at the same time, recognize the loss in value that has incurred.
Principle of contribution is used when multiple insurance policies covering same loss and payment for actual loss is proportionally divided among all.
Pure risks are types of risk where no profit is possible and only full loss, partial loss or break-even situation are probable outcomes.
Acquired Needs Theory studies individuals needs and classify them into as three motivating drivers, need for achievement, power or affiliation
To determine the degree of decentralization, 11 key factors affecting authority, decision making and organization structure must be considered.
There are Limitations of accounting in practice and businesses must record, analyze and present accounting information in way to avoid them.
Negotiable instruments are freely transferable commercial documents and each types of Negotiable instruments has unique functions and features.
Accounting is important in business, it provides the financial information of business to aid managers to take decision and run it successfully.
In Double Entry System, debit and credit of each account properly determined by Golden Rules and Accounting Equation Method.