What Is the Difference Between the Accountant's Concept of Profit

question 185

Essay

What is the difference between the accountant's concept of profit and the economist's view of profit?

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Definitions:

Appraisal Politics

The dynamics and power plays involved in the process of evaluating employee performance, which can affect fairness and outcomes.

Rewards

The benefits, compensation, and recognition provided to employees for their performance and contributions to the organization.

Performance Management Systems

Tools and processes that organizations use to monitor, evaluate, and improve individual and organizational performance.

Strategic

Relating to the identification of long-term or overall aims and interests and the means of achieving them.