What Does Interfirm Mean?

Definition. Inter-firm cooperation (IFC) can be defined as quasi-stable, durable, formal or informal arrangements between two or more independent firms, aiming to further the perceived interests of the parties involved.

What are interfirm relations?

The authors define inter-firm relationships as a broad range of relationships including strategic alliances, joint ventures, and mergers and acquisitions (M&A) or other equity-based relationships in this paper.

How is intra firm comparison done?

Intra-firm comparison means comparison of two or more departments or divisions of the same business unit with the objective of meaningful analysis in order to improve the operational efficiency of all the departments or divisions.

What is meant by intra firm analysis?

Intra-firm ratio analysis is the comparison of ratios of a particular firm over a period. … Such firms are thought of as being similar (not same) to each other in at least a few respects. To evaluate the financial situation of a company, analysts compare its ratios with those of two or more similar firms.

What is the difference between intra and inter firm?

Inter firm is between two companies where as intra firm is within one company.

What is inter-firm power?

Abstract. Extends the conceptual framework on interfirm power relationships within channels of distribution. Power is defined as one firm’s ability to influence the perceptions, behavior, and/or decision making of members of another firm (i.e., potential for influence).

What are the techniques of inter-firm comparison?

Inter-firm comparison technique is a method of self-analysis of the business by the businessmen themselves. The management of the business on the basis of results obtained from the self-analysis is bound to react and look around for means to improve its performance or increase productivity.

What do you mean by Inter period comparison?

Financial statements of two or more business enterprises may be compared over period of years. This is known as “inter-firm comparison” Financial statements of particular business enterprise maybe compared over two periods of years. This is known as “inter-period comparison”.

What is intra firm communication?

Front-office chat systems were designed to communicate with their counterparts at other firms, not the downstream folks in the workflows inside their firms,” Weiss said. … “Most of the chat platforms the front office is on, the back office is not using.”

What is inter-firm and intra firm comparison with examples?

A firm would like to compare its performance with that of other firms and of industry in general. The comparison is called inter-firm comparison. If the performance of different units belonging to the same firm is to be compared, it is called intra-firm comparison.

What is the difference between uniform costing and inter-firm comparison?

Uniform costing is the foundation stone over which the structure of IFC is developed and adopted in a large scale. Inter-firm comparison can be defined as the technique of evaluating the relative performance, efficiency, costs and profits of firms in a given industry’.

Which statement is prepared for inter-firm comparison?

Those financial statements that enable intra-firm and inter-firm comparisons of financial statements over a period of time are called Comparative Financial Statements.

Which are the procedure to follow for effective inter-firm comparison in the service sector?

Prerequisites for Inter-Firm Comparisons:

  • (1) Uniform Costing:
  • (2) Membership of Trade Associations:
  • The function of such association would be:
  • (3) Information to be Collected:
  • The nature of information generally collected, processed and published relating to the following:

Is ratio A analysis?

Ratio analysis is a quantitative procedure of obtaining a look into a firm’s functional efficiency, liquidity, revenues, and profitability by analysing its financial records and statements. Ratio analysis is a very important factor that will help in doing an analysis of the fundamentals of equity.

What is inter firm analysis in accounting?

Inter-firm Analysis is a comparison of financial variables of a firm over a period of time. It is also known as Time Series Analysis or Trend Analysis.

What are difficulties faced in inter firm comparison?

Limitations of inter-firm comparison :

  • Top management feels that secrecy will be lost.
  • Middle management is usually not convinced with the utility of such a comparison.
  • In the absence of a suitable Cost Accounting System, the figures supplied may not be reliable for the purpose of comparison.

What is comparative statement?

A comparative statement is a document used to compare a particular financial statement with prior period statements. Previous financials are presented alongside the latest figures in side-by-side columns, enabling investors to identify trends, track a company’s progress and compare it with industry rivals.

What is window dressing accounting?

Window dressing in accounting means an effort made by the management to improve the appearance of a company’s financial statements before it is publicly released. It is a manipulation of financial statements to show more favorable results of the business.

What is intra firm analysis Class 12?

1) intra firm- it is the comparison within the business ie previous year and current year or from one department to another. … To measure the Short-term and Long-term Solvency of the business- analysis helps in judging whether the business will be able to pay its short term and long term dues.

In which country the system of uniform costing was first introduced?

But in U.K., British Federation of Master Printers was the first organisation to introduce a uniform costing system. In India, it is being used in coal industry, steel industry and fertiliser industry.

What are the advantages and limitations of uniform costing?

Uniform costing develops better informed and healthy competition within the industry which results in control and reduction of cost. 4. Uniform costing provides the members with all benefits of sound costing system. On the basis of available reliable cost information, product pricing is taken up on sound basis.

What is necessary for successful operation of uniform costing?

Following are pre-requisites of uniform costing:

(b) They should adopt a common system of costing regarding classification, distribution and absorption of costs. … (c) The firms must use a common terminology and procedure for cost ascertainment and cost control.

What is inter intra?

Although they look similar, the prefix intra- means “within” (as in happening within a single thing), while the prefix inter- means “between” (as in happening between two things).

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