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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 daily...
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 struggle...
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 accrual...
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 great...
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 Flowchart?...
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. Therefore,...
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 have...
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 from...
ACCOUNTING EQUATION – double entry bookkeeping where there is an identity of debit and credit elements of a transaction. For each transaction, the total debits equal...