Definition: Current Assets refer to an entity’s assets that could be converted to or used within a period of less than one year. They are the group of liquid assets that are expected to be used, consumed, or converted into cash within 12 months from reporting date. In the balance sheet, these groups of assets […]
Current Assets: Definition, Classification, Calculation, and Example Read More »
Inventory Turnover Ratio: The Inventory Turnover Ratio is one of the Financial Ratios used to assess how often the inventories are replaced and sales performance over a specific period. This ratio is normally used to assess how well the inbound and outbound system of inventories are, based on the strong relationship between the Cost of
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History of Just In Time (JIT): Just In Time, called TOYOTA Manufacturing Production System, is part of the Lean Manufacturing Production System. There is a long story before becoming the Just-In-Time that we know today. Eli Whitney first initiated the Just In Time concept in 1799, who had a large contract with the U.S. Army at
Just-In-Time: History, Objective, Productions, and Purchasing Read More »
