Account Receivable

What is Accounts Receivable Collection Period? (Definition, Formula, and Example)

Account Receivable, Financial Accounting

Definition: The accounts receivable collection period sometime called the day’s sales outstanding simply means the period (number of days) in which credit sales are collected from customers. This ratio is very important for management to assess the collection performance as well as credit sales assessments. The account receivable collection period measures the average number of …

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What are the Benefits of Factoring Your Account Receivable?

Factoring Account Receivable, Financial Accounting

Benefits Of Factoring Account Receivables Businesses are a support system and backup for the economy. After a period of recession or economic depression, the economy regains its stability if businesses are self-sufficient. If the businesses have working capital, capability to expand, hire and grow, the road to economic recovery becomes less painful for the business …

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Cost of Goods Sold: Definition, Formula, Example, and Analysis

Cost of goods sold

Definition: The cost of goods sold is the costs of goods or products sold during a specific period by the entity to its customers. The cost here refers to costs or expenses attributable directly to the goods or products that the entity sold, including the cost of direct labor, direct materials, and direct overheads. These …

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How to Manage Accounts Receivable for Services Industry Company?

Account Receivable

Cash flow problems are the major issue in every company; well-managing account receivables would minimize these problems. The following are some tips that could help you to manage accounts receivables in your company if it is a service providing company. General speaking, large amount and long-term of account receivable are the cost of the company …

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Forensic Accounting Procedures for Fraud Related to Purchasing

Forensic Accounting

One of the major rules of a forensic accountant is investigating fraud that happened or might be happened to the organizations. In this article, we will list down some specific procedures related to Investigating Fraud over purchasing done by Forensic Accountant. Here we go! In every organization, the purchasing department plays a very important rule in the …

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How to Prepare the Forensic Accounting Report? (Guide)

Forensic Accounting

Forensic Accounting Report Preparing the Forensic Accounting Report is part of your major responsibilities if you are a forensic accountant. This task is normally done at the final stage of your investigation. In this article, we will tell you’re the main element that you should include when you prepare your forensic accounting reports. Before list …

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4 Types of Forensic Accounting Services (With Detail Explanation)

Forensic Accounting

Forensic Accounting Services might not be so popular in some countries for example in Asian countries. But it is the high pay services in some countries like the USA. In this post, I will list downs in detail the most popular Forensic Accounting Services often engaged with. As you may know, most of the engagements that …

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Forensic Audit Procedures: 5 Main Procedures You Should Know

Forensic Accounting

Overview: Forensic audit procedures are not so much different from audit procedures. They also perform important procedures to obtain the evidence, including analytical reviews, inquiries, observations, recalculations, inspection, etc. However, as said in our previous post, What is forensic accounting? The evidence gathered from forensic accounting or auditing is normally used for legal purposes rather …

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What is Forensic Accounting? Definition, Types, Services, and Objectives

Forensic Accounting

Definition: Forensic Accounting is the art of investigating accounting records, financial statements, and other related financial records. The result of the investigation is mostly used for legal support and resolving conflict. This job requires technical skills in accounting, investigation, and legal. These are what drive forensic accounting to become more attractive and highly paid. The …

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