Non-Accounting Majors

Various score system principles plays bouncy role in the success of competent management of inventories of any companies. Inventories be alpha aspect of the company since it is the star the determines the unattached newfangled materials for the production of the organization, or it could be that it determine the available stocks of the company on their warehouses to be distributed to the market (Robertson, 1998). So oftentimes with the importance of stock management, let us now have more assist on the importance of accounting to instrument management.Well, the idea of check and residuum of accounting could be used by coach-and-fours appoint in inventory management. Inventories moldiness be checked all(prenominal) now and past depending on the need of the company, the demand and supplies of raw materials must be on balance in order not to impact the operation of the business. Moreover, inventory managers having familiarity in accounting would enables them to dete rmine the allowable take of ending inventories by the end of every period so as to feed the financial condition as intumesce as the assets to be stable.There are also times that there are inventories that are non-taxable, therefore, the inventory manager must know how to present those non-taxable inventories to the accountant of the company. The inventory manager should know this kind of principles in order not for the company to pay too much tax and for the unagitated flow of data transfer from one department to another since the inventory manager has to identify first those non-taxable inventories before presenting the communicate to the accounting division. With this, even simply knowledge in accounting would give companies chances of working things smoothly.I am not aphorism that inventory managers have to acquire accounting studies as well. But the mere prefatory principles of accounting would be just tolerable for us to perform our responsibilities well and to block committing mistakes as to the proper ways of presenting the involve data of various departments of the organization.REFERENCERobertson, L. (1998). Managing broth Electronic Version, 1. Retrieved 9-20-07 from http//www.asashop.org/autoinc/july98/mech.htm.