When will the AACSB transition to the 2020 business accreditation standards?
The transition period for adopting the 2020 business accreditation standards will take place between January 2021 and June 2023. During this time, schools can choose to be reviewed under either the 2013 or 2020 business standards. If your school has questions regarding the transition, please contact your AACSB accreditation staff liaison.
What are the guiding principles and standards of AACSB?
The guiding principles and standards are principles-based and outcomes-focused and affirm AACSB’s commitment to having the world’s highest standard of quality in business education. AACSB has continued to revise its business accreditation standards to improve relevancy, maintain currency, and increase value.
Which industries have the highest turnover ratios?
Among tangible goods, the "retail" and "consumer discretionary" sectors have the highest turnover ratios. Retail industries have a turnover ratio of 10.86, meaning that they replenish their entire inventory more than ten times in one year.
Why does a grocery store have a high inventory turnover?
This high inventory turnover is largely due to the fact that grocery stores need to offset lower per-unit profits with higher unit sales volume. These types of low-margin industries have proportionately higher sales than inventory costs for the year.
2021 Annual Update
In the spirit of continuous improvement, AACSB enhances the accreditation standards and interpretive guidance annually. Updates are based on feedback from peer review teams, accreditation committees, deans, accounting program administrators, and other representatives from the AACSB business education community.
Development of the 2020 Business Accreditation Standards
The guiding principles and standards are principles-based and outcomes-focused and affirm AACSB’s commitment to having the world’s highest standard of quality in business education.
The nine standards are organized into three categories
View a comparison of the 2013 and 2020 business accreditation standards.
Transition Guidelines
The transition period for adopting the 2020 business accreditation standards will take place between January 2021 and June 2023.
How much inventory turnover is normal in grocery stores?
In sectors such as the grocery store industry, it is normal to have very high inventory turnover. According to CSIMarket, an independent financial research firm, the grocery store industry had an average inventory turnover of 13.56 (using the cost of goods method) for 2018, which means the average grocery store replenishes its entire inventory over 13 times per year.
Why is inventory turnover slow?
Slow inventory turnover could be a sign of poor management or inefficient purchasing practices. High volume, low margin industries—such as retailers—tend to have the highest inventory turnover. High inventory turnover can signal an industry as a whole is seeing strong sales or has efficient operations. It is important to realize that low and high ...
What does low inventory turnover mean?
Low inventory turnover can indicate bad management, poor purchasing practices or selling techniques, faulty decision-making, or the buildup of inferior or obsolete goods. As a result, investors usually don't like to see a low inventory turnover ratio in a company; it can suggest the business is in, or headed for, trouble.
2021 Annual Update
- In the spirit of continuous improvement, AACSB enhances the accreditation standards and interpretive guidance annually. Updates are based on feedback from peer review teams, accreditation committees, deans, accounting program administrators, and other representatives from the AACSB business education community. On July 1, 2021, AACSB released its a...
Development of The 2020 Business Accreditation Standards
- The guiding principles and standards are principles-based and outcomes-focused and affirm AACSB’s commitment to having the world’s highest standard of quality in business education. AACSB has continued to revise its business accreditation standards to improve relevancy, maintain currency, and increase value. An appointed Business Accreditation Task For…
The 2020 Standards Fulfill The Following Key Objectives
- Reinforce long-held AACSB commitments to mission focus and peer review
- Emphasize a principles-based and outcomes-focused approach, as well as relevance for business schools now and in the future
- Recognize the changing landscape of student demographics and reflect the activities we envision business schools of the future will undertake to ensure continuous improvement an…
- Reinforce long-held AACSB commitments to mission focus and peer review
- Emphasize a principles-based and outcomes-focused approach, as well as relevance for business schools now and in the future
- Recognize the changing landscape of student demographics and reflect the activities we envision business schools of the future will undertake to ensure continuous improvement and high quality in bu...
- Value the diversity of thought leadership in the context of a school’s mission
Transition Guidelines
- The transition period for adopting the 2020 business accreditation standards will take place between January 2021 and June 2023. During this time, schools can choose to be reviewed under either the 2013 or 2020 business standards. If your school has questions regarding the transition, please contact your AACSB accreditation staff liaison. Beginning July 1, 2023, all schools will b…