Accounting

Process costing is related to a continuous & uninterrupted process of production of the same or similar goods, for instance, chemical production and oil refining. Hence the items is uniform, there is no need or require to determine the costs of different groups of goods and each and every processing …

Vendor Prepaid and Deposit Expenses are two common accounts that could be easily slipped and ignored among 100 of daily accounting tasks. You want to take extra precautions about both of the accounts, or your book won’t be as correct as it is expected. Vendor deposit is organization’s investigate that …

Fixed asset tagging is a good practice in the pursuit of better fixed assets actual control. Putting tags on fixed assets, not only help custodians to determine the fixed asset during a actual count session, but also sends a strong signal to other person (in within the organization)  that the …

Hence my post about Receivable Factoring Guide, many of you people asked me a simple question; “what is journal – entry for factoring of accounts receivable?” To sum-up the factoring procedure; when factoring accounts receivable, the receivables are sold to a finance organization. The factor purchase the accounts receivable at a …

Audit committee, in the real corporate world, has been stay for long time & the perception of its responsibilities & roles are evolved once in a while. This post aims to highlight responsibilities & roles of audit committee in the past & recent years. There were varied views on audit …

In detail, a business acquisition, from the accounting viewpoint, is a transaction in which both the acquiring & acquired organization are still left standing as separate entities at the end of the transaction. If the acquiring organization spreads the acquisition cost over the assets being bought at their fair market …

P-Card : Payment Accounts (A / P) accountants are well aware of how most of their working hours are used in the supplier invoice process. The following are some of the common routines of daily life: Registering trademark and putting in place new vendors on the system and physical filing …