Free Trial

Safari Books Online is a digital library providing on-demand subscription access to thousands of learning resources.

  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

PART II: Enforcing the Law: Policies, Pr... > CHAPTER 11: Controlling Commerce

images

Controlling Commerce

Regardless of the industry, business sector, organizational mission, or economic purpose, there is a point in every entity’s operational cycle when it enters the realm of commerce. Traditional manufacturers, developers of various virtual products, technology companies, service providers, trading companies, and even nonprofit organizations, at a certain point along their value chains, engage in selling their output.

This is the stage in which revenue is created. Accounting logically follows the common sense, demanding the conversion of products into incomes and outlays into costs to be recognized only when the ownership rights are transferred. You can create a warehouse full of great items, but, unless you exchange them for their value, they will not provide you with the means to cover the expenses you incurred. This is the essence and the function of commercial enterprise.


  

You are currently reading a PREVIEW of this book.

                                                                                                                    

Get instant access to over $1 million worth of books and videos.

  

Start a Free Trial


  
  • Safari Books Online
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint