How to maximize your profits


Assignment:

Profit Maximization

As a Controller of Accounts of a large business organization, I would be responsible for ensuring the company be as profitable as possible by diligently cutting unnecessary costs while boosting productivity among employees (Kent, 2018). The best way to do my job is to ensure that revenue exceeds the costs or expenses, analyze where the money is being spent and evaluate any expenses that can be eliminated especially in the overhead (Kent, 2018). For instance, long-term lease costs for production buildings would be a better option than short term and researching optimal priced insurance costs are wise recommendations. Another example would be to critically evaluate the cost of raw materials and the selling price ratio.

There needs to be a sufficient markup on goods sold otherwise the company will lose money, while at the same time, too high of selling prices will discourage customers from buying (Kent, 2018). The profit margin must be carefully monitored and maintained. These are just a few ways that a Controller of Accounts employee can contribute to the company goal of profit maximization.

Kent, J. (2018, November). How to Maximize Your Profits.

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Microeconomics: How to maximize your profits
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