ACCT 23021 Lecture Notes - Lecture 2: Financial Statement, Relate, Procter & Gamble
2 Aug 2020
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Distinguish among service, merchandising, and manufacturing companies merchandising, and manufacturing companies. Resell tangible products bought from manufacturers and suppliers. Use labor, plant, and equipment to convert raw materials into finished products. Making the product product is not finished. The activities that add value to the company"s products and services. Elements of the value chain (1 of 3) Research and development (r&d): researching and developing new or improved products services and the processes for producing them. Design: detailed engineering of products and services and the processes for producing them. Elements of the value chain (2 of 3) Production or purchases: resources used by manufacturers to produce a product or merchandising companies purchasing finished merchandise for resale. Marketing: promotion and advertising of products or services. Elements of the value chain (3 of 3) Distribution: delivery of products or services to customers. Customer service: support provided for customers after sale. Anything for which managers want to know the cost.
