Non-Accounting Majors

Various chronicle principles plays vital percentage in the success of efficient focussing of inventories of any companies. Inventories argon important view of the company since it is the one the memorizes the available unrefined 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 much with the importance of stocktaking management, let us instantaneously pay more attention on the importance of be to inventory management.Well, the image of check and balance of be could be used by private instructors assigned in inventory management. Inventories essential be go over every now and then dep finishing on the need of the company, the demand and supplies of raw materials must be on balance in enjoin not to affect the surgical process of the business. Moreover, inventory managers having go throughledge in accounting would enables them t o determine the allowable level of ending inventories by the end of every current so as to make the monetary condition as well as the assets to be stable.There are in like manner 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 in like manner much tax and for the smooth period of info transfer from one subdivision to another since the inventory manager has to locate first those non-taxable inventories before presenting the report to the accounting division. With this, even simply knowledge in accounting would give companies chances of working things smoothly.I am not saying that inventory managers have to acquire accounting studies as well. But the mere basic principles of accounting would be just enough for us to perform our responsibilities well and to av oid committing mistakes as to the proper ways of presenting the needed data of various departments of the organization.REFERENCERobertson, L. (1998). Managing Inventory Electronic Version, 1. Retrieved 9-20-07 from http//www.asashop.org/autoinc/july98/mech.htm.