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Tutor profile: Alexander W.

Alexander W.
Professional Operations and Project Manager

Questions

Subject: Finance

TutorMe
Question:

If inventory is a current asset and appears on the balance sheet, why and how does it significantly impact the monthly income statement?

Alexander W.
Answer:

While inventory is an asset and the profit and loss statement does not reflect assets or capital, the level of inventory a company holds will reflect on the income statement as either increased or decreased materials cost thereby impacting the costs of goods sold for the period. The basic inventory equation is: beginning inventory + purchases- ending inventory = materials cost for the period.

Subject: Business

TutorMe
Question:

Why would a small business organization chose to operate as an LLC or Corporation rather than a Sole Proprietorship?

Alexander W.
Answer:

Operating as Limited Liability Company or Corporation provides a legal and financial division from the personal finance and liability of the owners.

Subject: Management

TutorMe
Question:

Of the functions for which an organization's management is responsible which do you think is most critical in modern management theory and practice; financial performance, operational excellence, or employee relations?

Alexander W.
Answer:

Of the primary functions of management, employee relations is the most critical in sustaining long-term performance of the organization by ensuring a motivated, committed, and present workforce while also mitigating liability and labor disputes for the organization.

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