As Lean Production Methods Reduce Change-Over Times and Thus Enable

question 68

Essay

As lean production methods reduce change-over times and thus enable smaller economic lot sizes and less work-in-process inventory is the importance of quality increased or decreased? Why?

Identify transactions that are not reported in the cash flows but disclosed separately.

Know the sources of information required for preparing the statement of cash flows.

Understand the use of the statement of cash flows by managers.

Learn the impact of transactions and events on the end-of-period cash balance.

---

Definitions:

Directors

Individuals appointed or elected to oversee the management and make strategic and policy decisions for a corporation or organization.

Key Management Personnel

Individuals who have authority and responsibility for planning, directing, and controlling the activities of an entity, typically including the company’s directors and senior executives.

Significant Influence

The power to participate in the financial and operating policy decisions of an entity but is not control or joint control over those policies.

Subsidiary

A company that is controlled by another company, usually referred to as the parent company or holding company.