Accounting Tools
NOVEMBER 4, 2023
Related Courses Activity-Based Management Business Strategy Cost Management Guidebook What is Strategic Cost Management? Strategic cost management is the process of reducing total costs while improving the strategic position of a business. This goal can be accomplished by having a thorough understanding of which costs support a company's strategic position and which costs either weaken it or have no impact.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Budgeting Capital Budgeting Contract Management Project Management What is a Capital Project? A capital project is an investment in the procurement or construction of a significant fixed asset. Capital projects tend to involve a much larger investment than for the typical fixed asset, and may require months or years of work before they are completed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Business Insurance Fundamentals Enterprise Risk Management What is Business Insurance? Business insurance is designed to reimburse an organization for certain specified losses. There are many types of business insurance, each one intended to address a different type of risk. The exact type of insurance purchased will depend on the nature of the business and the environment in which it operates.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Capital Budgeting Fixed Asset Accounting Fixed Asset Controls What are Capital Goods? Capital goods are durable assets used in the production of goods and services. They include all types of fixed assets , such as production equipment, buildings, and vehicles, as well as infrastructure. Thus, a manufacturer of trains is considered part of the capital goods sector of the economy, since its trains are then used to provide the service of hauling freight.
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
NOVEMBER 4, 2023
Related Topics Accounting for Stock-Based Compensation Corporate Finance What is a Call Option? A call option is a financial arrangement under which an investor has the right, but not the obligation , to buy an asset at a predetermined price within a specific range of dates. An investor only exercises a call option when doing so will result in the acquisition of an asset at a price below its current market price , so that the investor can then sell the asset for a profit.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Expense Report Best Practices There are a number of best practices that can be applied to a company’s travel and expense policy. Doing so reduces costs and ensures that employees adhere to the company requirements for what does and does not constitute a valid expense. Here are several travel and expense policy best practices: Require Prior Approval Have supervisors review and approve employee expenditure requests in advance.
Financial Ops World brings together the best financial operations content from the widest variety of thought leaders.
Accounting Tools
NOVEMBER 4, 2023
Related Courses The Income Statement What is an Income Statement? The income statement is a financial report that shows an entity's financial results over a specific period of time. The time period covered is usually for a month, quarter, or year, though it is possible that partial periods may also be used. This is the most commonly-used of the financial statements , and is the most likely statement to be distributed within a business for management review.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Accounting for Income Taxes Small Business Tax Guide What is Income Tax? An income tax is a government tax on the taxable profit earned by an individual or corporation. The resulting revenue is usually one of the chief sources of cash for a government entity. It is considered one of the more fair forms of taxation, since it is only imposed if a person or business has been successful enough to generate taxable income.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is an Income Bond? An income bond is a bond that pays interest only if the issuing entity has earned income. The amount of interest paid may vary with the earnings of the entity, so investors are essentially participating in the earnings of the business. This also means that investors share in the risk of the issuer , since no earnings equates to no interest payments.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Fixed Asset Accounting Fixed Asset Controls How to Audit Fixed Assets What is a Ghost Asset? A ghost asset is any fixed asset that cannot be accounted for, because it is not physically present within the company or has been rendered unusable. Many organizations have ghost assets – and a lot of them – because they failed to remove fixed assets from the accounting records once they were sold off or otherwise disposed of.
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.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Fixed Asset Accounting Fixed Asset Controls How to Audit Fixed Assets What is a Zombie Asset? Zombie assets are fixed assets that are on the premises, but which have not been recorded in the fixed asset register. There are several ways in which a zombie asset can appear. Consider the following alternatives: An employee has convinced a supplier to bill the company in several installments for an acquired asset, where each invoice is somewhat below the company’s capitalization limit
Accounting Tools
NOVEMBER 4, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer’s Guidebook What is a Credit Facility? A credit facility is a preapproved loan that can be drawn down at need. A business typically has a credit facility in place with its bank in order to fund its working capital needs on an ongoing basis. There is no need to draw down the entire amount available under the credit facility; it is simply available for use as needed.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Accounting for Inventory Cost Accounting Fundamentals What is Absorption Costing? Absorption costing is a method for accumulating the costs associated with a production process and apportioning them to individual products. This type of costing is required by the accounting standards to create an inventory valuation that is stated in an organization's balance sheet.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Fixed Asset Accounting Fixed Asset Controls How to Audit Fixed Assets What is a Fixed Asset Register? The fixed asset register is a detailed listing of every fixed asset that has been acquired or built by a business. It is usually based on information contained within the fixed assets module of the accounting software used by a business.
Advertisement
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
NOVEMBER 4, 2023
Related Courses Accounting Information Systems What is a Transposition Error? A transposition error is a data entry error that is caused by inadvertently switching two adjacent numbers. A clue to the presence of such an error is that the amount of the error is always evenly divisible by 9. Example of a Transposition Error For example, the number 63 is entered as 36, which is a difference of 27.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is a Bulge Bracket Bank? A bulge bracket bank is an investment institution that issues the largest amount of securities in a securities issuance. This bank is typically the first name listed on a securities issuance tombstone, which is the advertisement announcing the sale of securities.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Bank Reconciliation Essentials Bookkeeping Guidebook How to Audit Cash What is a Bank Reconciliation Statement? A bank reconciliation statement is a form used to compare internal records of checking account activity to those stated by the bank. It itemizes the deposits, withdrawals, and other activities impacting the checking account for a one-month period.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Bookkeeping Guidebook A dividend is a distribution to shareholders of retained earnings that a company has already created through its profit -making activities. Thus, a dividend is not an expense , and so it does not reduce a company's profits. The only way in which a dividend might reduce profits is from the perspective of future profits - paying out large dividends might starve a company of the cash that it needs to fund future growth, though only if the profits from the futur
Advertisement
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
NOVEMBER 4, 2023
Related Courses The Balance Sheet What is a Contra Liability Account? A contra liability account is paired with another liability account , and is used to reduce the balance in that account. In essence, the paired liability account contains a credit balance that signifies the presence of an obligation , while the contra account reduces the amount of that liability with a debit balance.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is a Basket Purchase? A basket purchase is the acquisition of a number of assets as a group, in a single purchase transaction. A basket purchase usually arises when the buyer has the opportunity to acquire a number of assets at a price below their combined market values. When multiple assets are acquired in this manner, the accountant typically records the cost of the assets individually in the fixed assets register.
Accounting Tools
NOVEMBER 4, 2023
Related Courses Corporate Cash Management Treasurer’s Guidebook What is a Bank Overlay Structure? Companies operating on an international scale frequently have trouble reconciling the need for efficient cash concentration operations with the use of local banking partners with whom they may have long-standing relationships and valuable business contacts.
Expert insights. Personalized for you.
75 
Let's personalize your content