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CRM is a complex topic and intersects with marketing, sales, service, finance and logistics departments; additionally, it has a strong strategic component, requiring involvement of top...
One among irregular items that gets special accounting consideration is an extraordinary event. An extraordinary item is a transaction or event that is both unusual and...
Assets are financed both by debt and equity. “Equity“ represents the “net assets“ of a corporation. This concept can be compared to owning a house (asset)...
Long-term liabilities/debt generally represent the most significant obligation for the corporation. Although this obligation does not impact a firm’s current liquidity, ultimately it becomes payable. Thus,...
Liabilities and stockholders’ equity support a company’s investment in assets. Liabilities must be recognized on the date they were incurred. Liabilities, much like assets, can be...
Generally the most significant non-current asset in terms of value is a company’s investment in property and equipment. These are the assets that companies commit millions...
I have been receiving many emails request for a post explains complete classification and elements of Balance Sheet in more details. Here I am bringing “Classification...
Following on my previous post about Cost/Benefit Analysis Of ERP Implementation, here is the more chocolate. The example! To illustrate the process, let’s create a hypothetical...
Since I posted about “Manufacturing Resource Planning (MRP II) – ERP’s Embrio”, many reader of this site sent me email and said that they thought I...
Since my post about Receivable Factoring Guide, many of you asked me a typical question; “what is journal entry for factoring of accounts receivable?” To sum-up...
Are you the one who responsible for physical inventory count conduct? If yes, this General Physical Inventory Count Procedure may useful for you. This procedure is...
This “Bank Reconciliation Procedure” may help those who is an accounts payable clerk to compare his or her internal cash records to those of the bank...
Job descriptions for these 12 key positions are essential and crucial to determining who is responsible for each task in accounting and financial department. Otherwise there...
To eliminate the necessity of writing checks in very small amounts, it is customary to maintain a petty cash fund from which small disbursements are made....
Absorption costing is a system in which all (fixed and variable) production overhead costs are charged to product/services using an allocation base (a measure of activity...
Preparing a cash flow analysis often gives managers a much better understanding of the operation of their business. It is particularly important for some small medium...
A purchaser may attempt to forecast the future income of a target company in order to arrive at a logical purchase price. Goodwill is often, at...
In a lease arrangement, the owner-lessor agrees to rent an asset (machinery, equipment, land, or building) to the tenant-lessee for a set number of periods at...