What is quality and how much does it cost?

Article Abstract:

Accountants are more used to being concerned with quantity and not quality, but quality standards are also essential. The Financial Control Research Institute has done some research on quality as an objective. Most businesses did not seek absolute quality but expected a high percentage. Also important was not the intrinsic quality of a service or product but customer perceptions of it. Quality control costs can be reduced when the customer does not perceive quality loss. When quality improvement is sought, a strategic plan should be drawn up reviewing needs, and covering recommendations, implementation plans, needed decision making and other matters. Quality costs must be computed for each different approach and could be a functional analysis of expenses or a specific ad hoc costing for a product or service. The British Standard classification of quality costs (BS 6143) is seldom used but would be useful.It divides cost categories into: (1) Appraisal - cost of assessing and testing quality, (2) Prevention - research to prevent or reduce failures and defects, (3) External failure - costs after customer delivery and (4) Internal failure - costs within the company resulting from product failure. Research is continuing on strategic quality control.

Analysis, Accounting, Quality management, Quality control

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Sales concessions: How much dare you give away?

Article Abstract:

Twenty-three methods for encouraging prospective customers to purchase goods or services are identified, not one of which involves price reduction, but all of which (if improperly handled) could adversely affect the seller's profit margin in such a way as to negate the positive benefits of having made the sale. Analysis methods for judging the economic effects of sales concessions are discussed, and two case studies of sales concessions and their economic effect are examined. Possible lawsuits arising from improperly administered sales concessions and contract law in this area are considered.

Methods, Economic aspects, Marketing, Marketing management, Selling, Sales promotions, Conditional sales contracts

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Courses - And Much More Training for the '80s

Article Abstract:

The Professional Development Services of the Institute of Chartered Accountants in England and Wales offers a variety of courses and conferences to provide continuing professional education for its members. This is a self- supporting department of the Institute. Close ties are maintained with district societies. A recent project has been to develop programs aimed at the small practitioner. New developments in film and video are effective, but can often be costly.

United Kingdom, Professional associations, Trade associations, Trade and Professional Associations

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