Posts tagged Accounts Payable

Accounts Payable (A/P) accountants very well know how the supplier invoice processing sucks most of their working hour. Consider the following common routines carried on …

It is time to look into your working capital (accounts payable, to be exact) after re-negotiating your debt and deploying cost-cutting aggressively but still in …

The regulators do not permit a business organized as a C-corporation (in the United States) to use cash basis accounting. Instead, these companies must use …

One of the primary tasks of the accountant during the period-end closing process is the calculation of expense accruals, of which there are potentially a …

Accounting flowchart is a pictorial representation of the flow of transactions process in a specific area of the accounting and financial department. For example: Purchasing …

There are tens [if not hundreds] of items [transactions] to be classified as “current liabilities”. The bigger business most likely have more of these items. …

Your business sells products both at retail to consumers and to other businesses. You extend short-term credit to your business customers. Over the years, you …

The most inexplicable event for a senior-level manager is to see a profit at the bottom of the income statement, and yet field a request …

ACCOUNTING EQUATION – double entry bookkeeping where there is an identity of debit and credit elements of a transaction. For each transaction, the total debits …