Manufacturing

Manufacturing describes the transformation of raw materials into finished goods for sale. It also involves the process of making semi-finished products.

The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale.

Manufacturing takes turns under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. Modern manufacturing includes all intermediate processes required for the production and integration of a product's components. The manufacturing sector is closely connected with engineering and industrial design. 

The method of labor division is used for obtaining large-volume productions. It is a process by which each worker performs only a small part of the total work, enabling the worker to specialize and economize moves in order to speed up the production. 

Manufacturing has become a huge portion of the modern world economy. According to some economists, manufacturing is a wealth-producing sector of an economy, whereas a service sector tends to be wealth-consuming. 

How can RSM Peru help you? 

Financial statements are one of the most essential components for reporting economic and financial information on a public or private entity’s financial position and how it is being managed. These financial statements must be in line with the standards issued by the Central Government. RSM Peru has a team specialized in this sector which provides the widest range of professional advisory and consulting services.