1.3 The economic principle 6 1.4 The factors of production 7 1.4.1 Natural resources 7 1.4.2 Human resources 8 1.4.3 Capital 9 1.4.4 Entrepreneurship 10 1.5 The economic systems in which businesses operate 11 1.6 South African businesses and the changing social contract 12. PRINCIPLES OF BUSINESS MANAGEMENT.
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After many years of quality assurance practices, the International Organization for Standardization (ISO) has evolved 8 Key principles for standardizing management system practices that meet the ISO 9001 requirements.In fact, many companies which adopted the ISO 9001 Quality Management System but lack of awareness the importance of this 8 principles to managing their business performance. This result caused the company inability to exploit the potential of the established management system for greater organization performance.
By on July 23, 2013 inSee Also:Accounting Principles 5, 6, and 7 DescriptionBasic principles are both generally held and regulated under. The also provides rulings and general practices with regard to these principles. Some of these principles of also contain underlying concepts or methods that may be used as it pertains to that company’s particular industry. Let’s look at the, the Matching Principle, and the Principle Revenue PrincipleThe Revenue Principle, also known as the Revenue Recognition Principle, contains several different methods regarding the timing and amount to record as. In accordance with this, meet the following three conditions for each and every. First, a must have performed a service or provided a to expect a return from the buying party. Then the amount of the should be readily measurable.
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Finally, there should be a reasonable amount of expectation that the will receive. But to insure that this happens, the following six methods of for. Which differ according to conditions that surround the, can be found below:1)2)3)4)5)6) Matching PrincipleThe matching principle is a way of setting the of a next to their respective. Once you use one of the above principle, then match up the incurred during the same period that the was recognized in the. But by doing this, the establishes that the for the period revenue has been recognized. Disclosure PrincipleLastly, the principle states that a company’s need to and should contain enough to outsiders so that they can make well informed about a. In most cases this is pretty straightforward, but for some policies, issues, and uncommon the way in which a should disclose can become unclear. Include the following to cover the majority of issues and events within the as to avoid misleading.1) Significant2)3)4)5)If you want to learn more skills, then download the free.
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