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Why are costs important?
They reduce profit.
What is difference between cost center profit center?
Cost Center: it is that department of a company whose manager is responsible for cost spending only like production department.Revenue Center: it is that department whose manager is only responsible for revenue for example sales department.Profit Center: it is that department whose manager responsible for cost as well as revenue of department that department is called profit centre like "Autonomous Business Units".
What is profit pool?
Profit Pooling is when a manager chooses the most profitable activity in an industry and decides to engage in that activity for the purpose of generating large proportion of profit from the industry. Example: Education industry - there are many activities in this industry, some are more profitable than others, a strategic manager will consider external and internal elements (Weakness, strength, competitor, law, etc.) to engage in one of the activities for the purpose of earning Above Average Return (AAR). If he succeeds, then we can say there is profit Pool from education industry. -Jude Ehiokhihen E.
What is the connection between profit costs and expenses?
Profit, costs, and expenses are important within any business' profit and loss statements. The connection is that anything that is more than the costs and expenses of a product or service offered by a business is profit.
How do you calculate profit margins?
Gross Profit Margin = Gross Profit/Revenues Net Profit Margin = Net Profit/Revenues
Who is a efective manager?
the manager with positive attitude towards profit maximization
What is it important for business manager to know the size of a gross and loss profit of a business?
It is important to know the size of a gross and loss profit for a business, because this is the only way to set a budget. It is important in making sure that goals are met throughout the year as well.
Is the job of a financial manager in a nonprofit organization different from a financial manager with a profit-seeking firm?
The job of a financial manager in a nonprofit organization is different from a financial manager with a profit-seeking firm. These people will handle money in different ways.
Is the job of a financial manager in a nonprofit organization different from a financial manager in profit seeking firm?
The job of a financial manager in a nonprofit organization is different from a financial manager with a profit-seeking firm. These people will handle money in different ways.
What are the four cases that explain the fulfillment of any manager goal regarding the profit?
The four cases that explain the fulfillment of any manager goal regarding the profit.
What is a mutual fund manager get a year?
They make a lot of money. A Bulk of the income is based on profit sharing - depending on the amount of profit the fund manager makes out of the investor money.
What are the rule of financial manager?
he is responsible for the overall profit planning of the organisation
The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?
The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?
What is brain behind the business?
The brain behind every business is that the manager or share holders are on the profit making their aim is to make profit
As a responsible financial manager would you like to go for profit maximisations or value maximisation?
A responsible financial manager sees the benefit in both approaches. They will try to balance both profit and value maximization for their stockholders.
Why is profit important?
profit is important because profit represents the surplus working captial with company so to take care of its day to day operations In brief, "no profit, no business."
What is the brain behind every business?
The brain behind every business is that the manager or share holders are on the profit making their aim is to make profit
