Factors due to changing business landscape
What are the various factors which occurred due to the changing business landscape?
Expert
The various factors which occurred due to the changing business landscape are as follows:
a) Growth of the service sector.
b) Emergence of new industries.
c) Growth of e-commerce.
d) Automated manufacturing.
e) Lean manufacturing.
f) Bigger product innovation.
g) Quick response times.
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Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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Expense: The Outflow or other using up of resources or acquiring liabilities (or a combination of both), the advantages from which exert to an entity's operations for the present accounting period, however they do not expand to future
What do you mean by the term provision of management accounting information?
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