Tag: Administration And Finance

Conversion Cost: How It Is Calculated And Examples

The conversion cost is the amount that is incurred for expenses during the transformation of the inventory of raw materials into finished products. In other words, it is the amount of direct labor and overhead costs that are required to convert the raw materials into an actual product. Therefore, conversion cost is a term used

Callable Liabilities: What It Consists Of And Examples

A callable liability is defined as a company’s legal financial debts or obligations that arise during the course of business operations. Liabilities are canceled over time through the transfer of economic benefits, such as money, products or services. Therefore, a callable liability is a debt of a company that requires the entity to give up

What Are Returns On Purchases?

The returns on purchases are situations in which a company or organization return products purchased from your supplier. This return may be generated as a result of the buyer having found the defective products, with different characteristics from those requested, or for other reasons. In the scenario of a refund on a purchase, the buyer can

Philip Crosby: Biography And Contributions To Quality

Philip Crosby (1926-2001) was an American businessman, pioneering his contributions on the theories and practices of quality and administrative management. He was the author of works related to commercial and industrial areas. In the projects and companies in which he was involved, he was considered a fundamental piece to improve quality conditions. This American is credited

Human Resources Policies: Types, Examples

Human resource policies are the continuous guidelines on the orientation that an organization intends to adopt in managing its staff. They represent specific guidelines for human resource managers on various employment-related matters. These policies establish the intention of the organization in different aspects of human resource management, such as hiring, promotion, compensation, training, selection, etc. Therefore, they