Non-accounting Information PDF
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Uploaded by SayGoodbyeToSleeplessNights
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Summary
This document discusses non-accounting information relating to a business, particularly focusing on the nature of the product and its impact on customer preferences. It uses examples, including a shop manager reviewing modular sofas, to illustrate its key concepts.
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## Non-accounting Information Non-accounting information refers to the information about a business that cannot be found in the journal, ledger accounts or financial statements. Non-accounting information such as nature of product, types of storage and customers' preference affects how the busines...
## Non-accounting Information Non-accounting information refers to the information about a business that cannot be found in the journal, ledger accounts or financial statements. Non-accounting information such as nature of product, types of storage and customers' preference affects how the business assesses if the product will meet customers' needs and can be adequately kept until it is sold. ### Nature of product Nature of product refers to a feature, attribute, or quality of the product. For example, some products can come with variable components to cater to customers' preferences while some products do not have such variable components. The image shows a shop manager sourcing for a new sofa to sell at a trade show. She is looking at a modular sofa that can be mixed and matched to form different sofa sets to cater to different customers' needs. The manager is impressed with the modular sofa and thinks it will be a great addition to the shop's inventory.
