Accounting Tools
OCTOBER 21, 2023
Related Courses Nonprofit Accounting What is the Accounting for Pledges? A donor may promise a nonprofit to contribute money to it in the future. This promise is called a pledge. There are many types of pledges, such as ones that are to be fulfilled all at one time, in increments, and with or without restrictions. The accounting for a pledge depends upon the conditions attached to it.
Accounting Tools
OCTOBER 21, 2023
Related Courses Financial Analysis An annuity is a series of payments that occur over time at the same intervals and in the same amounts. An annuity due arises when each payment is due at the beginning of a period; it is an ordinary annuity when the payment is due at the end of a period. A common example of an annuity due is a rent payment that is scheduled to be paid at the beginning of a rental period.
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Accounting Tools
OCTOBER 21, 2023
Related Courses Working Capital Management Zero working capital is a situation in which there is no excess of current assets over current liabilities to be funded. The concept is used to drive down the level of investment required to operate a business, which can also increase the return on investment for shareholders. Working capital is the difference between current assets and current liabilities, and is primarily comprised of accounts receivable , inventory , and accounts payable.
Accounting Tools
OCTOBER 21, 2023
Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud There are a number of ways in which a corporation can commit fraud. Corporate fraud can encompass the loss of assets by the business, acts perpetrated by the corporation to take funds from others, or the falsification of its reported results and financial position. Here are several examples.
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Accounting Tools
OCTOBER 21, 2023
Related Courses Accountants' Guidebook Bookkeeping Guidebook What is an Accounting Period? An accounting period is the span of time covered by a set of financial statements. This period defines the time range over which business transactions are accumulated into financial statements. It is needed by investors so that they can compare the results of successive time periods.
Accounting Tools
OCTOBER 21, 2023
Related Courses Budgeting Capital Budgeting What is a Standard Budget? A standard budget contains fixed revenue and expense budget information. It does not provide for any variability in the amount of units sold, price points , activity levels, and so forth. As such, a standard budget represents a single best estimate of the future performance of a business through the budgeting period.
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Accounting Tools
OCTOBER 21, 2023
Related Courses Bookkeeping Guidebook How to Audit Revenue Revenue Recognition What is Deferred Gross Profit? The deferred gross profit concept is when a business uses the installment sales approach to recognize its sales transactions. Under the installment method, only the gross profits on those sales for which cash payment has been received are recognized.
Accounting Tools
OCTOBER 21, 2023
Related Courses Cost Accounting Fundamentals What is a Cost Variance? A cost variance is the difference between the cost actually incurred and the budgeted or planned amount of cost that should have been incurred. Cost variances are most commonly tracked for expense line items, but can also be tracked at the job or project level, as long as there is a budget or standard against which it can be calculated.
Accounting Tools
OCTOBER 21, 2023
Related Courses Operations Management What is Independent Demand? Independent demand is the demand for a finished product, which is being ordered by an outside party. It is difficult to predict independent demand, since it is subject to the vagaries of customer needs, which in turn may be influenced by such factors as general economic conditions, changes in fashion, and even the weather.
Accounting Tools
OCTOBER 21, 2023
Related Courses Fraud Examination Fraud Schemes The Interpretation of Financial Statements What is Earnings Management? Earnings management is the use of accounting trickery to make a company’s financial results appear better than is really the case. This done by taking advantage of the accounting standards to either inflate a firm’s reported profits or to make these figures look less variable.
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Accounting Tools
OCTOBER 21, 2023
Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Lapping Fraud? Lapping occurs when an employee alters accounts receivable records in order to hide the theft of cash. This is done by diverting a payment from one customer , and then hiding the theft by diverting cash from another customer to offset the receivable from the first customer.
Accounting Tools
OCTOBER 21, 2023
Related Courses Business Ratios Guidebook Financial Analysis The Interpretation of Financial Statements What is EBIT? EBIT represents the approximate amount of operating income generated by a business. The EBIT acronym stands for Earnings Before Interest and Taxes ; by removing interest and taxes from net income, the financing aspects of an entity are separated from its operations.
Accounting Tools
OCTOBER 21, 2023
Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Return on Common Equity? The return on common equity ratio (ROCE) reveals the amount of net profits that could potentially be payable to common stockholders. The measurement is used by stockholders to evaluate the amount of dividends that they could potentially receive from a business.
Accounting Tools
OCTOBER 21, 2023
Related Courses Constraint Management Operations Management What is Expediting? Expediting involves assigning an expediter to a specific high-priority job, who then walks it through the entire production process, shifting other jobs out of the way to make room for the designated job. Advantages of Expediting In general, there is no room for expediting in an environment where the constraint is being properly managed, since expediting jumbles the flow of jobs into the constraint.
Speaker: Sierre Lindgren
Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.
Accounting Tools
OCTOBER 21, 2023
Related Courses Corporate Cash Management Financial Forecasting and Modeling Treasurer's Guidebook What is Cash Flow Forecasting? Cash flow forecasting is the process of creating a model of when future cash receipts and cash expenditures are expected to occur. This information is needed to make fundraising and investment decisions. The cash flow forecast can be divided into two parts: near-term cash flows that are highly predictable (typically covering a one-month period) and medium-term cash fl
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