Discuss the practice of purchase or payment discounts

Assignment Help Accounting Basics

Reference no: EM131908610

DISCUSSIONS

1. Discuss some differences between a service business and a merchandising business. Provide unique examples of each in your discussion. Are there some businesses that incorporate both approaches and have products and services? If so, provide examples of these also.

2. Define Cost of Merchandise Sold in the context of an example of a business. In other words, define it by illustrating it as it pertains to a business you have chosen. As always, make your choice unique from your classmates. How can management decisions in this area affect the bottom line profitability of that business? (Your answer should be specific to the business you have chosen) What factors are controllable? Uncontrollable? -Again, make your answer specific to the example you described.

3. Discuss accrual accounting principles and apply these to a business that you: work for, have worked for, have observed, or have researched. Provide specifics and ensure that your responses are unique.

4. Discuss the practice of purchase/payment discounts. What relationship does accounts payable have to this activity?

5. What is shrinkage? Select a business and provide examples of internal and external shrinkage occurring in that business. How can those be mitigated? Ensure that your posting is unique from your classmates' posts.

Reference no: EM131908610

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