Financial management deals with the ways in which an organization can raise funds for the various projects, allocation of those funds in the most productive and efficient way, how to exercise control over those funds, and how to distribute the returns of those funds to the various stakeholders. It generally deals with planning, controlling, organizing, […]
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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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Definition: Quick Ratio is one of the Liquidity Ratios used to measure the company’s liquidity position, project, investment center, or profit center. The special characteristic of this ratio from the other Liquidity Ratios is that Quick Ratio taking account only cash and cash equivalent items for calculation and interpretation. It disregards other items which might not quickly convert
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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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Overview: Account Payable Management is one of the most important roles of the management team in the company, especially executive management in the finance section. Controlling cash payment is as important as controlling cash collection. Generally, the controlling of these sections is done by the expertise of the executive person in finance sections that gain
4 Best Account Payable Books of All Time – Recommended Read More »
Definition: Accounts payable are the liabilities that the companies owe to their suppliers as the result of purchasing goods or rendering the services on credits. For example, the company should record accounts payable as the result of purchasing USD1,000 in credits for a personal computer for staff. Accounts payable are types of current liabilities which
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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
How to Manage Accounts Receivable for Services Industry Company? Read More »
Top Five Accounting Books: IFRS and US GAAP Today Financial Statements are prepared based on two world largest accounting standards: IFRS and US GAAP. Some countries require the companies that operate in their jurisdiction to use their local GAAP as the framework to prepare the Financial Statements. Yet, most of the countries have adopted IFRS
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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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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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