Accounting Tools
APRIL 7, 2023
Related Courses Inventory Management Operations Management What is Just-in-Time Inventory? Just-in-time inventory is the reduced amount of inventory owned by a business after it installs a just-in-time manufacturing system. The intent of a JIT system is to ensure that the components and sub-assemblies used to create finished goods are delivered to the production area exactly on time.
Enterprise Recovery
APRIL 7, 2023
Every industry has its own share of jargon, acronyms, and special terms. There's a level of trust that's gained when a business partner understands your industry or "speaks your language." When companies seek out debt collection agencies that they can trust, they also want to work with those who understand their industry. When a debt collections agency speaks your language, B2B account recovery can be more successful.
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Accounting Tools
APRIL 7, 2023
Related Courses Accounting for Inventory How to Audit Inventory When ending inventory is overstated, this reduces the amount of inventory that would otherwise have been charged to the cost of goods sold during the period. The result is that the cost of goods sold expense declines in the current reporting period. You can see this with the following formula to derive the cost of goods sold: Beginning inventory + purchases - ending inventory = Cost of goods sold Example of Overstated Ending Invento
CloudZero
APRIL 7, 2023
You can now keep up with the latest cloud computing developments whenever you have time. It's easy to connect with cloud providers, software developers, and executives on social media.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Accounting Tools
APRIL 7, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets The costs to assign to a fixed asset are its purchase cost and any costs incurred to bring the asset to the location and condition needed for it to operate in the manner intended by management. More specifically, assign the following costs to a fixed asset: Purchase price of the item and related taxes Construction cost of the item, which can include labor and employee benefits Import duties Inbound freight and handling Interest cos
FundThrough
APRIL 7, 2023
When reviewing different types of financing options, it’s easy for a small business to wonder if invoice factoring is really worth it. (In case you’re new to invoice factoring, this is when a factoring company gives you funding for unpaid invoices ahead of net terms, and the waits for customer payments.) Sure, it’s faster than […] The post Is Invoice Factoring Worth It?
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
CSI Accounting & Payroll
APRIL 7, 2023
As a small business owner, if you’ve fallen behind on your bookkeeping or tax filings, you can get into a bit of trouble. However, falling behind is relatively common. Lots of work goes into running a business, and sometimes you and your accountant just aren’t on the same page. What do you do to get yourself back on track? Find a reliable accountant to do your back work.
Accounting Tools
APRIL 7, 2023
Related Courses Corporate Cash Management Treasurer's Guidebook What is the Continuous Linked Settlement System? The continuous linked settlement system is designed to mitigate the risk associated with the settlement of foreign exchange transactions. Foreign exchange settlement presents a risk of one party defaulting before a transaction has been completed, because settlement takes place through accounts in the correspondent banks in the countries where the relevant currencies are issued.
FundThrough
APRIL 7, 2023
When reviewing different types of financing options, it’s easy for a small business to wonder if invoice factoring is really worth it. (In case you’re new to invoice factoring, this is when a factoring company gives you funding for unpaid invoices ahead of net terms, and the waits for customer payments.) Sure, it’s faster than […] The post Is Invoice Factoring Worth It?
Economize
APRIL 7, 2023
Understand the key differences between BigQuery and Bigtable in terms of data types, querying, analysis, integration, administration, write throughput, consistency, durability, customization, scalability, and use cases.
Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence
In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.
FundThrough
APRIL 7, 2023
Small businesses can face various financial challenges when it comes to cash flow management. From unexpected expenses to customers paying late or not at all, a lack of capital can cause major problems for business owners. In fact, a recent study by J.P. Morgan Chase found that the median small business only has a cash […] The post How Do You Factor an Invoice?
Accounting Fun
APRIL 7, 2023
An accountant knocks on the door of the local GP's surgery and walks in. "Hello, doctor. Please help. I just don't know what's wrong with me. Goodbye." With that the accountant turns around and walks out. 30 seconds later they are back. "Hello again, doctor. Please help. I just don't know what's wrong with me." The Doctor looks up from his desk and asks: Are you an accountant?
Accounting Tools
APRIL 7, 2023
Related Courses Accounting for Leases What is the Accounting for a Sales-Type Lease? In a sales-type lease, the lessor is assumed to actually be selling a product to the lessee , which calls for the recognition of a profit or loss on the sale. Consequently, this results in the following accounting at the commencement date of the lease: Derecognize asset.
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All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!
Accounting Tools
APRIL 7, 2023
Related Courses Business Ratios Guidebook Credit and Collection Guidebook The Interpretation of Financial Statements What is Receivable Turnover? Receivable turnover is a measure of how quickly a company is collecting its sales that were made on credit. This refers to sales for which cash payment was delayed until after the sale date. A high rate of turnover occurs when the proportion of receivables to sales is low.
Nanonets
APRIL 7, 2023
AI for Email Writing Email communication has become an integral part of our daily lives, especially in the workplace. It is a fast, convenient, and efficient way to communicate with clients, colleagues, and stakeholders. However, crafting a well-written email that conveys the right message and tone can be a challenging task, especially for people with limited writing skills or experience.
Accounting Tools
APRIL 7, 2023
Related Courses Accounting for Inventory Inventory Management There are several ways to reduce inventory without making it noticeable to customers. The outcome of this reduction can be a vastly reduced investment in inventory and lower obsolescence costs, while still maintaining a high level of order fulfillment. We break the improvement options into the categories of product planning, purchasing and receiving, production, and fulfillment.
Nanonets
APRIL 7, 2023
Cash management, or effective treasury management, can often be the deciding factor for the success or failure of tech startups. To achieve success, it is crucial to manage cash flow, particularly the "burn rate," which refers to the rate at which money is spent before reaching profitability. To operate safely and efficiently in every stage of growth, companies need the right mix of liquidity options and a range of treasury management products and services.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
Accounting Tools
APRIL 7, 2023
Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Correcting Entry? A correcting entry is a journal entry that is made in order to fix an erroneous transaction that had previously been recorded in the general ledger. For example, the monthly depreciation entry might have been erroneously made to the amortization expense account.
NACM
APRIL 7, 2023
? After roughly nine months of decline that almost led NACM's Credit Managers' Index into contraction territory, the index now seems to be on an upswing.? On today's episode of NACM's Extra Credit podcast, hear from Amy Crews Cutts with the latest update of the CMI, along with Gary Juliano, CCE and Tracy Turner, CCE. ⭐ Featuring host Kend.
Accounting Tools
APRIL 7, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets Only recognize costs in the carrying amount of a fixed asset until the item is in the location and condition for it to be capable of operating in the manner intended by management. This means that no further costs should be added to a fixed asset once the asset achieves this status, even if it is not yet actually used in the manner intended by management.
Nanonets
APRIL 7, 2023
Whether you’re working in a small startup, or in a large transnational corporation, there’s a good chance that you’ve already heard of workflow automation. In fact, there’s probably an even greater chance that you’ve interacted with tools and elements that automate some part of your workload, to an extent. From aiding in tasks like sorting and indexing emails; inputting data in a sheet, or managing your work-vital digital documents, to entirely automating cruci
Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC
In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.
Accounting Tools
APRIL 7, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets An asset is derecognized upon its disposal, or when no future economic benefits can be expected from its use or disposal. Derecognition can arise from a variety of events, such as an asset’s sale, scrapping, or donation. Accounting for an Asset Derecognition A gain or loss can be recognized from an asset’s derecognition, though a gain on derecognition cannot be recorded as revenue.
SSI Healthcare Rev Cycle Solutions
APRIL 7, 2023
Mastering Patient Eligibility Verification: Best Practices, Proven Solutions and Real-World Examples [SSI Preventing Eligibility Denials Series: Part 3 of 3] April 6, 2023 If you’ve already read our blogs on Understanding Eligibility Denials and The State of Eligibility Verification in Hospitals and Health Systems , the need for an effective eligibility verification process and solution is clear.
Accounting Tools
APRIL 7, 2023
Related Courses Auditing State and Local Governments Governmental Accounting The Green Book Explained The Yellow Book Explained What is Intergovernmental Revenue? Intergovernmental revenue is funding received from another government, either in the form of a grant or as reimbursement for costs incurred. The recipients of these funds record them as revenue.
Accounting Tools
APRIL 7, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What are Investment Securities? Investment securities are bonds and shares that have been acquired for investment purposes. The intent is to profit from the interest and dividend payments that these investments pay out from time to time. Accounting for Investment Securities The amount paid for these securities is recorded in the investment securities account in the general ledger.
Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker
If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!
Accounting Tools
APRIL 7, 2023
Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management What is Accrued Payroll? Accrued payroll is all forms of compensation owed to employees that have not yet been paid to them. It represents a liability for the employer. The accrued payroll concept is only used under the accrual basis of accounting ; it is not used under the cash basis of accounting.
Accounting Tools
APRIL 7, 2023
Related Courses Small Business Tax Guide What is Incremental Tax? An incremental tax is a tax rate that adjusts based on the reported level of income. This usually means that the tax rate increases as the reported income level increases. The intent behind this type of tax is to reduce the tax burden on those people and businesses at the lower income levels.
Accounting Tools
APRIL 7, 2023
Related Courses Cost Accounting Fundamentals What are Indirect Factory Costs? Indirect factory costs are all costs incurred by a manufacturing operation, not including direct materials and direct labor. These costs are allocated to the units produced within the same period. If the units are not sold, then the allocated costs are included in ending inventory.
Accounting Tools
APRIL 7, 2023
Related Courses Hospitality Accounting What is the Average Daily Rate? The average daily rate is the average revenue generated by an occupied hotel room. It is one of the primarily indicators of performance used within the lodging industry. A generally increasing average daily rate is a strong indicator that a hotel is finding ways to charge more for its rooms, which in turn results in greater overall profitability.
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