Author: Anfisa Dmitrieva

By performing a physical inventory count a business can keep its information accurate and current. How often should a company go through the warehouse and track their products and supplies? Inventory controlling helps revenue and expenses be recogniz…

How often should a company go through the warehouse and track their products and supplies? Physical inventory is an actual count of the goods in stock. This can involve counting, weighing, and otherwise measuring items, as well as asking third partie…

The chapter closes with suggestions for future research on the nonprofit performing arts. For example, companies must strictly adhere to the Internal Revenue Service’s (IRS) Tax rule 409A statute. This rule limits a company’s options in instituting d…

A petty cash voucher is usually a small form that is used to document a disbursement (payment) from a petty cash fund. Petty cash vouchers are also referred to as petty cash receipts and can be purchased from office supply stores….

The cashier creates a journal entry to record the petty cash receipts. This is a credit to the petty cash account, and probably debits to several different expense accounts, such as the office supplies account (depending upon what was purchased with …

To control the petty cash fund properly and record it correctly for tax purposes, the fund should be stored in a secure location and reconciled frequently. Petty cash is a highly liquid asset, which means that it’s easily stolen….

PERT charts depend on the ability to predict precise time frames for multitudes of tasks. Complicated projects involving many activities and suppliers can make this prediction difficult, as explained by U.S. Unexpected events occur, and sometimes the…

A more accurate understanding of customer preferences can guide which items a business stocks and when they place them on the sales floor. If a company has several locations, a perpetual inventory system centralizes this management. It amalgamates al…

As expected, the extent to which resources generated by sales can be used to pay operating expenses and provide net income is dependent on both revenue and the cost of goods sold. Amid the ongoing LIFO vs. FIFO debate in accounting, deciding which me…

For this reason, it is strongly recommended to report restricted dollars separately, and to pay particular attention to the unrestricted amounts when planning and making operational decisions. In addition, directors and managers need adequate trainin…