After reading this article you will learn about the inventory buildup and actions for avoiding it. Inventory buildup starts because of the reasons, either (i) items get ordered in excess of the requirement or (ii) they do not get used at the same rate at which they are received. To overcome the first possibility, orders should be placed after consulting [...]
This article throws light upon the three financial test ratios used to find out the state of profitability in the farm business. The financial test ratios are: 1. Cost Ratios 2. Capital Ratios 3. Income Ratios. 1. Cost Ratios: These show the relationship between costs and returns. Cost ratios are averages and their magnitude reflecting physical production efficiency, selection of [...]
After reading this article you will learn about:- 1. Concept of Management 2. Functions of Management 3. Nature 4. Importance. Concept of Management: Every business requires planning for the future to find a way to successful business for which the person in the helm of affairs has to take decisions and is responsible for the consequences for his decision making [...]