According to IAS – International Accounting Standards, the financial statements are a structured representation of the financial position and financial performance of an entity. The objective of general purpose financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of […]

Fixed Costs Concept: Fixed costs are entity’s costs that will remain constant independently of the positive or negative…

Flowchart Concept: The term flowchart designates a graphic representation of a certain process or work flow, generally…

Formal Organization Concept: Formal Organization corresponds to the organizations’ component that establishes the way how is…

The fourteen points created by W. Eduards Deming, form a summary of his message and are today considered by many as the “commandments” of the quality improvement. These points are the following: Establish a permanent goal about the product and service improvement; Adopt the new philosophy; Don’t depend from the inspections to reach quality; Finish […]

Franchising Concept: The term Franchising is used to designate a contractual relation between the owner of a certain brand…

Frederick Herzberg (Life and Work): Frederick Herzberg was an important studious of human motivations having given a significant…

Biography of Frederick Taylor Frederick Winslow Taylor was a North American Mechanical Engineer, born in 1856 in Philadelphia in United States, was known as the father of the Work Scientific Theory (or Taylorism, designatin given in his honor). He began his professional career with 18 years of age as mechanic apprentice studying at night in […]

Funding Source Concept: Funding sources designate the set of the organizations’ internal and external capitals used for…

Garfield Principles Concept: Garfield Principles for Clients Rotation Reduction were developed by Maynard M. Garfield and rely in the…