A measure of conformance to either objective (quantifiable) or subjective (nonquantifiable) standards. The standards are established to meet customer specifications with minimal defects.
An attempt to express the extent to which net income realistically portrays an entity’s operating income and that results are not intentionally misstated by management.
A process, which may include statistical sampling, which monitors the quality of operations. Techniques include precise specifications, random inspection procedures, and disciplined reviews of deviations from specification
The function or an organizational unit responsible for providing assurance that products or services are consistently maintained at a high level of quality. It encompasses preventing product defects (job training, quality circles, procedures); ensuring that products conform to specification (inspection, testing); monitoring internal quality failures (rework, yield losses) and external failures from customer/warranty complaints. This function is broader than the traditional quality control function of setting standards and testing for adherence to standards
The costs associated with preventing, finding, and correcting defective work; include prevention costs, appraisal costs, internal failure costs, and external failure costs.
Hello Everyone, Just to get different perspectives from people, from your perspective, what are the top three skills or qualities of a financial leader of a company?
Costs associated with correcting defects. Costs can be broken down into two main categories: the cost of nonconformance (e.g., scrap) and the cost of conformance (e.g., documentation, inspection).
A visual decision-making procedure for multiskilled project teams; it develops a common understanding of the voice of the customer and a consensus on the final engineering specifications of the product that has the commitment of the entire team.
The goal is to improve corporate performance through progressively changing employee attitudes so that all employees strive for only high quality and total customer satisfaction
See matching posts in thread - Earnings quality CMA Part 2
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