It is very important that every business setting a comprehensive credit policy procedure. This policy must include ascertaining customer creditworthiness and establishing credit limits, payment terms, discounts offered, fees for late payment and action to be taken for overdue accounts. This control will help the business to minimise the overdue accounts and future bad debts. This solution of controlling overdue
The few additional features like the camera are also easy to master with no additional settings in the camera app to cause confusion. 4. Accessibility The phone is available at all leading network providers, targeting the specific market of potential buyers. This phone has network coverage across the country and the ability to roam internationally This phone is available at shops where people in your lower income bracket would shop eg. Pep
Common Stock- shares entitling their holder to dividends that vary in amount and may even be missed, depending on the fortunes of the company. Dividend- a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits (or reserves). Equity- the value of the shares issued by a company.
Why is making a backup essential in a law office? Making a backup file is essential in a law office because it will copy everyone’s files. Backing up data regularly is essential to prevent the loss of data in case of disasters such as power outage, flood or fire. Without a backup file it would be impossible to try and recreate files that were
3.1. Pros of fair value accounting Timely information Since fair value accounting utilizes information specific for the time and current market conditions, it attempts to provide the most relevant estimates possible. It has a great informative value for a firm itself and encourages prompt corrective actions. It provides an accurate valuation This method of accounting helps to provide more accuracy when it comes to current valuations from assets and liabilities. If prices are expected to increase or decrease, then the valuation can do the same.
In particular, remarkably arranged accountants work with AIS to ensure the biggest measure of precision in an association's cash related trades and recordkeeping and to make fiscal information adequately open to the people who legitimately expect access to it, all while keeping information set up and secure. This article will depict the fundamental sections of an AIS and some of its authentic applications. As demonstrated by A Statement of Basic Accounting Theory and Generally Accepted Accounting Principles, accounting system should offer information to help organization in masterminding and essential administration nearby there are various obligations are to be kept up to make it successful. Three main responsibilities of Accounting Information System
Adequate disclosure in accounting practices mandates that all readers of a financial statement have access to relevant data that would be believed essential to understanding a company's financial position. Adequate disclosure requires that key facts are included within the financial statement to help investors and creditors adequately assess the financial situation of a particular company. Example Details of contingent liabilities, contingent assets, legal proceedings, etc. are relevant to the decision making of users and hence need to be disclosed. Details of property, plant and equipment cannot be presented on the face of the balance sheet, but a detailed schedule outlining movement in cost and accumulated depreciation should be presented in the
Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money. The financial system of India has shown a great deal of resilience. It is sheltered from any crisis triggered by any external macro-economics shock as other East Asian Countries suffered.
Transparency, in the Cambridge Dictionary (2015), can be defined as a situation in which business and financial activities are done in an open way without any hidden secrets. Eskom portrays their transparent actions by communicating openly with everyone; striving towards keeping promises; portraying accurate information and protecting confidential information (Eskom, 2008: 3). Accountability on the other hand is when someone is solely responsible for the actions they perform and should be able to give a valid reason why they performed those actions (Cambridge Dictionary, 2015). There are six distinctive values present within Eskom and will be dealt with in more detail
E-mails transmit messages through communication networks and have advantages such as speed, low cost, along with the ability to communicate with individuals around the world at any hour. These characteristics improved productivity at such a large extent that it became one of the most important tools for businesses nowadays Since nothing is perfect, e-mails lack the flexibility to send and receive packages, which is the reason why postal offices has not completely
Ensure that the property, plant and equipment exist and are genuine assets of the business and are beneficially owned by the business and any restrictions, pledges or liens on the property, plant and equipment are identified and adequately disclosed in the financial statements. At the same time, have to prepare fixed assets schedule as to attachment for this section. Test the mathematical accuracy, agree opening balances to prior period working papers and agree closing balances to the nominal ledger and investment ledger where maintained. Vouch against invoices, contract notes, and agreements for any additions or disposals in order to ensure that all property, plant and equipment are included in the balance sheet and gains or losses on realization of property, plant and equipment are correctly stated. In additions, ensure the property, plant and equipment are properly disclosed and