International Financial Flows Changed in Meaningful Ways,and These Changes Were

question 25

Essay

International financial flows changed in meaningful ways,and these changes were brought to the attention of policy makers by the Asian financial crisis.Describe three changes.

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Definitions:

Periodic Inventory System

An inventory accounting system where the inventory is updated in the accounting records periodically, typically at the end of an accounting period, rather than after each transaction.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company, including material and labor expenses.

Operating Expense

This refers to the costs associated with the normal day-to-day operations of a business, excluding costs directly related to product manufacturing or service delivery.

Merchandising Company

A business entity that purchases and sells tangible goods without significantly altering their form.