A merchandising business sells products to customers, whereas a service business provides or sells services to customers.
For example: A beauty salon is considered a service business because you are providing a service to the customers. in the case of a beauty salon, the service could be cutting hair, doing someones eyebrows, etc.
A sports store such as Sports Mart is considered a merchandising business because you are selling products to customers. in this case the products could be shoes, hockey sticks, etc.
Merchandising business has inventory.
Merchandising Companies purchase and sell directly and is ordinarily longer than a service company because of the inventory and its eventual sale lengthen the cycle, which differ merchandising and service companies.
Some of the steps may change. A merchandising company sells products, therefore the will have to consider the cost of goods sold, etc to find their net profit. A service company provides a service, therefore they won't have a cost of goods sold account, but instead figure supply expense. For the most part the steps will be either the same or very similar, however, accounts used will change.
As you can see, in merchandising companies we have more special components of revenues and expenses than service companies. Besides, merchandising have two different systems periodic inventory system and perpetual inventory system. Each system has own way to count goods.
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
Accounting principles differ throughout the world. Whether you are an accounting student or an investor, you should be aware of the accounting principles that apply in your region.
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
How does your relationship with service users differ from your relationship with friends?
Computerized accounting is done using accounting software packages and spreadsheets to compile data; traditional bookkeeping is done in long form using ledgers and accounts receivable and accounts payable forms.
Fashion marketing is about getting the consumer excited about a product. Planting a fantasy in their minds that make you want to purchase a product. Fashion merchandising is about setting up stores in a way that is appealing to the shoppers coming in. These two jobs often overlap.
Accounting systems of different countries differ because accounting is shaped by the environment in which it operates. Each country's accounting system has evolved in response to the local demands for accounting information. Because of globalization of capital markets, the lack of comparability has become a problem as transnational financing and transnational investments have grown rapidly in recent decades. Due to the lack of comparability, a firm may have to explain to investors why its financial position looks very different on financial reports that are based on different accounting practices.
A traditional income statement would differ depending on whether a business was service-oriented, a merchandiser, or a manufacturer. The manufacturing company transforms raw material into finished goods through the use of labor and factory facilities and a merchandising company, such as a retail furniture store which buys finished furniture and sells it in the same form i.e sells the goods it buys without changing the basic form. The income statement which is prepared by a merchandising concern needs no calculations of cost of goods manufactured. But the income statements prepared by the manufacturing concern requires the calculations for the cost of goods manufactured. So the financial statements prepared by a manufacturing company are more complex than the statements prepared by a merchandising company. The manufacturer company involves many costs that the merchandisers do not have. It is clear that the manufacturing company will have a more complex and varied cost components vs. a merchandiser and a service organization.
A traditional income statement would differ depending on whether a business was service-oriented, merchandiser or manufacturer. The manufacturing company transforms raw material into finished goods through the use of labor and factory facilities and a merchandising company, such as a retail furniture store which buys finished furniture and sells it in the same form i.e. sells the goods it buys without changing the basic form. The income statement which is prepared by a merchandising concern needs no calculations of cost of goods manufactured. But the income statements prepared by the manufacturing concern require the calculations for the cost of goods manufactured. So the financial statements prepared by a manufacturing company are more complex than the statements prepared by a merchandising company. The manufacturer company involves many costs that the merchandisers do not have. It is clear that the manufacturing company will have a more complex and varied cost components vs. a merchandiser and a service organization.
Cooperatives differ from typical businesses because they are organization that consisting of people who pool their resources to buy and sell more efficiently than they could individually. Also, cooperatives are always minimizing costs and working with limited liability of its members.
Yes, because due to sales on credit sales are accounted for when they are occurred while cash is received in some future time that;s why accounting profit and cash flows differ due to recognition timing difference.
Workers compensation laws differ from country to country. The laws for hospitals do not differ very much from the workers compensation laws for other businesses.
it doesnt chief
Corporation= A business made by the gov. Business= A job made by individuals.
Manufacturing is one where in production process service orientations is done where in service sector is to completely to serve with service and no production involved in this process.
Orgonisational behaviour is directly diffrent from accounting. that the OB is stands for qualitative aspects of peoples and company, it focus on the behaviour of peoples and orgonisation. but accounting is mainly stands for recording,classifying of the cash transactions or in terms of cash and summerising in significant manner
The service of an airplane may take 10 to 12 hours. This is for a Boeing plane. However the service time will differ with size.
How might demand for low-fare service differ in the Asia Pacific region from the North America and Europe
It would depend on your location. Certain locations would have certain pickup truck businesses. Therefore, the price could differ and the weight could differ.
grant temporary tax exemptions to groups and individuals that start new businesses
Definition of 'Accounting Principles' The rules and guidelines that companies must follow when reporting financial data. The common set of accounting principles is the generally accepted accounting principles (GAAP). To remain listed on many major stock exchanges in the U.S., companies must file regular financial statements reported according to GAAP. Accounting principles differ around the world, and countries usually have their own, slightly different, versions of GAAP.