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ACCOUNTING PRINCIPLES & STANDARDS: AVOID THEM AT YOUR PERIL
Accounting principles are the basic assumptions, rules of operation, and essential characteristics that make up the framework for the construction of accounting financial statements. This article discusses the difference between principles and standards and why they are important.

Other operational rules Related Articles

Breaking the Rules
Rules are part of life, from an early age onwards our lives are shaped by rules at home, at nursery, at school and eventually at work. There are rules in our society, rules of the road, social etiquette and so on. Importantly there is also another kind of rule that effects our lives and these are the ones we create ourselves which can therefore be considered as self-imposed.

Operational Innovation
There is an opportunity for almost every company to gain advantage through operational innovation. Operational innovation simply means identify key business processes and innovating in them to achieve faster throughput, or to provide some new convenience or wow factor customers, or to bring cost of offerings down in a dramatic fashion.This article explains operational innovation with help of an example.
The Rule of 3 for Business Survival
Just like the 3 rules of personal survival, there are 3 simple rules a business can follow to ensure its long-term success. These rules will not only help ensure your business survival but will help it grow in the near future as well.
Simple Rules or Stupid Rules? Which type is running your business?
All businesses have rules – some are simple, smart and understood by everyone; others are stupid, senseless and resisted by everyone. Simple rules make you efficient, they make you money and they make your team and customers happy. Stupid rules ensure you and your brand will be talked about for all of the wrong reasons…
Impact and Influence in Negotiation - There's More Than One Way to Float Your Ideas
Influencing, persuasion and negotiation is a game of sorts. That doesn’t mean it’s not serious – think World Cup soccer and notice how much a game can exhilarate, infuriate and become the subject of national debate. The analogy of the game is important because it is a reminder that there are rules that apply and expectations that players will abide by the rules – even when they are not spoken or written. As well as rules there are rituals (these are the accepted way of doing things) and one of these seems to be that we “float” our ideas to improve their acceptability rather than ask outright.
Underwater Mortgage Advice: The New Financial Rules of Home Ownership
When you're facing an underwater mortgage you're facing a situation where none of “the rules” matter that much anymore. What rules are we talking about? We're talking about the rules that say that you must always pay your debts, no matter what. We're talking about the rules that say it's actually bad to look out for yourself and your family first.

The Golden Thread: Linking Strategy to Execution
Detailed operational planning has to relate corporate strategy with the operations of the enterprise at the initiative level and below that at the project level. This Method Frameworks article describes ways to inject operational planning into the strategic planning process and string the “golden thread” through all of the execution loop-holes.
Mobile Home Parks - How to Properly Enforce the Rules
Many mobile home park owners feel that it is their duty as the owner to rule with an iron hand. They think that they can cure all of the park's ills with rule after rule. At with many parks, the rules section is longer than the lease itself. But is the park any better off with "rules phobia"? I have tested operating parks with extreme rules enforcement, and also with virtually no rules enforcement at all. And I think I have found the solution to successful park rules.
Stop Enabling Problem Employees
Supervisors often lose control of the situation by trying to be understanding and kind about following the rules. They make small exceptions that end up becoming habits, and soon the rules are not enforced at all. It is important to be sensitive to emergency or exception situations, but it is equally important to enforce the rules with an even hand. It is an area where many supervisors struggle. This article suggests an antidote.

The Power of Practical Wisdom
To have practical wisdom means that you know when to innovate, when to bend the rules, when to be flexible, when to improvise a solution. No set of rules can give us what we want because they become inherently constrictive. And rules can often require the individual to sacrifice their own beliefs in order to adhere to the rule.

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