Furniture is a product that has a huge marketplace due to the fact that all homes worldwide need furniture. A hot trend in the industry is the offering of green furniture which is furniture that is produced from renewable sources. A company that has exploited this trend in Europe and currently in the process of penetrating the US marketplace is IKEA.
I have honed analytical and critical proficiencies through course modules requiring closer evaluations and critique of relevant research topics and scholarly articles. Basic theoretical aptitudes required as prerequisites in business courses such as Math, English, Basic Accounting, Marketing and Finance have been acquired intermittently through class modules and personal reading.
The assets include accounts receivable. Accounts receivable asset represents the amounts owed by the creditors. Sometimes companies sell their product on account. This means the company delivers their products to the customers. In turn, the customers promise to pay their debts after several days or months.
The four basic financial statements are balance sheet, income statement, statement of changes in equity, and cash flow statement. Financial statements are important and used by different individuals or groups such as managers, employees, suppliers, creditors, government agencies, and the public.
Bart (1998) gave one of the most precise definitions of a mission statement: "A good mission statement captures an organization's unique and enduring reason for being, and energizes stakeholders to pursue common goals. It also enables a focused allocation of organizational resources because it compels a firm to address some tough questions: What is our business Why do we exist What are we trying to accomplish" In addition it should also tell where it is going and the values, strengths, and competencies that it will be using.
The critical nature of the information demands that it be accurate and truthful. They are formatted and calculated using Generally Accepted Accounting Practices (GAAP). They must adhere to standards set by a government controlling body such as the Financial Reporting Council (FRC), the Accounting Standards Board (ASB), and the International Accounting Standards Board (IASB).
Home Depot is one of the largest companies in this industry in terms of revenues and profitability. The main competitor of Home Depot is Lowe’s. However, Home Depot has always remained a step ahead of Lowe’s according to
6 pages (1500 words)Essay
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