Accounting is a service function. Discuss the statement in the context of a modern manufacturing business.
Answer (1)
27th Dec, 2019
Hello,
The accounting for manufacturing businesses is much more detailed than is needed for a business that maintains no inventory. A company can reduce this workload by shrinking the amount of inventory on hand, encouraging suppliers to own some on-site inventory, employing supplier drop shipping, and other techniques that reduce the overall level of investment in inventory. Thus the concepts and application of Accounting are treated as service function for a manufacturing business.
Hope this helps, Good Luck.
The accounting for manufacturing businesses is much more detailed than is needed for a business that maintains no inventory. A company can reduce this workload by shrinking the amount of inventory on hand, encouraging suppliers to own some on-site inventory, employing supplier drop shipping, and other techniques that reduce the overall level of investment in inventory. Thus the concepts and application of Accounting are treated as service function for a manufacturing business.
Hope this helps, Good Luck.
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