[ad_1] Trading Account As already discussed, first section of trading and profit and loss account is called trading account. The aim of preparing trading account is to find out gross profit or gross loss while that of second section is to find out net profit or net loss. Preparation of Trading Account Trading account is…
[ad_1] In my years of experience in sales and sales management, I have observed many small and medium sized sales teams. Often, they struggle to perform at capacity and hit their goals and it's frequently a sales management issue. Sometimes it's because the CEO or business owner is the de facto sales manager and is…
[ad_1] One might be led to believe that profit is the main objective in a business but in reality it is the cash flowing in and out of a business which keeps the doors open. The concept of profit is somewhat narrow and only looks at expenses and income at a certain point in time.…
Whistleblowers are the first line of defence against corruption, crime and cover-ups, according to a 2019 paper by the All–Party Parliamentary Group (APPG) on whistleblowing in the UK. For Sambo Abdullahi, head of internal audit at the Nigerian Bulk Electricity Trading (NBET) Plc, it has been one long tortuous journey. Over the past two years, he has been…
The Ondo State Government has directed all civil servants from grade levels 1 to 12 to stay at home in order to mitigate the spread of Coronavirus. The government noted that the order was with the exception of those on essential duties. In a statement on Monday night by government spokesperson, Donald Ojogo, the state…
[ad_1] Back in the analog days before personal computers, the internet and smartphones, paying monthly bills was an event! Bills arrived in the mail and were collected in a specific location and saved for that special day each month when they were paid. The bills were reviewed to make sure all expected items had arrived…
[ad_1] The modern accounting world is the proof that technology accelerates every industry it touches. Whether it be data or relationship with clients, advanced accounting software is efficient enough to handle it all. Before the emergence of cloud technology, CPAs and accountants were handling their complex financial data on spreadsheets. But, it is hard for…
[ad_1] “It is not always the people who start out the smartest who end up the smartest.” Alfred Binet. Your success quotient is made up of skills, knowledge and attitude with attitude accounting for 85%. Carol S. Dweck’s book, Mindset The New Psychology for Success, supports how important attitude is, but adds an additional premise…
[ad_1] How do firms choose their operating cycle? How do firms choose their cash conversion cycle? What is the impact of firm’s operating cycle on the size and periodicity of investments in receivables and inventories? How do seasonal and cyclical trends affect firm’s operating cycle, cash conversion cycle and investments in current assets? These strategic…
[ad_1] Cash is a vital component of any profit-generating organization. An organization’s assets generate revenue, which in turn generates cash inflows. These cash inflows are used for several purposes: to pay creditors, compensate employees, reward shareholders, provide asset replacement, and provide for growth. Cash is unique because it’s the single asset that is readily convertible…