Be aware of your limitations
13 September 2012
How the limiting factor can help you to make the best of a bad situation.
The limiting factor concept is now included in Unit 6, Recording and Evaluating Costs and Revenues, at the Intermediate level. Element 6.3 Prepare and Evaluate Costs and Revenues includes in the range statement – the limiting factor.
CIMA terminology defines the limiting factor or key factor as "anything which limits the activity of an entity. An entity seeks...