Represented by keeping company accounts, establishing accounting systems, training employees on them, and extracting final financial statements.
Account book keeping is the process of accruing the financial transaction and processes for any project or corporation and devising its financial statements according to IFRS (International Financial Reporting Standards).
Among the most important reasons that require the appointment of an external auditor for institutions is the presence of different parties and bodies that have direct or indirect interests in the institution, which necessitated the institution to adopt
This pricing strategy works in sectors and industries in which there is a strong competitive advantage for acompany that uses higher pricing as a set criterion (an example is Porsche Cars).
In which a low price is artificially set to gain market share quickly, and then prices are raised once the market share goals are achieved (Do you remember Hyundai prices when you started and up to now).
It is pricing that targets the mass market and this type of pricing is low in profit margins because it depends on selling large quantities with little profit (China’s factories are the best example)
You can simply apply this strategy when you have the ability to constantly introduce new products. The first thing that the product comes out at a high price is to cream the butter and then reduce the value of the phone (iPhone and Samsung are not negligent in implementing this strategy).
Set a price for your product as you wish and raise the prices because there is no competitor for you and no one has led you, but do not continue and be happy because it will often open the market sooner or later.
Know the value of your product from the customer’s point of view and set a price that represents this value, and the prices do not fall below the value (example: a room in a five-star hotel overlooking the sea, its cost for the hotel is 120 per night, but its value for the customer is 1200, its price is 1200 even if your costs are low).
You will need to know the market well to determine the price based on supply and demand