There are times in the corporate world when standard auditing methods will not be sufficient. Sometimes, it becomes necessary to look deeper at records and employ full investigatory talents. In such instances, a forensic accountant becomes necessary. Forensic accounting integrates an individual’s standard accounting and auditing experience with investigatory skills to permit...
To maintain any kind of successful business, the accounting system is crucial. All businesses require an accurate, streamlined accounting system to provide them with the up-to-date financial information that drives all their daily decisions. An accounting system is a set of structured accounting devices, procedures and controls made operational with a...
In order to maintain a successful business, it is crucial to have not only an attractive product or services offering, but also be able to recruit and maintain a group of productive, qualified employees. There are many factors involved in reaching these goals, but often overlooked are competitive employee...
In the corporate sphere, there is a great deal of uncertainty and risk. It can be difficult to predict the chances of a project’s success or of reaping profit. It is therefore for such purposes that many companies are turning to financial modeling. A financial model involves the...
In contemporary Western society we are all familiar with the 12-month, 365-day year. This system, known as the Gregorian calendar, was established in 1582 by Pope Gregory XIII to coincide with Earth’s orbit around the Sun. However, while suitable for astronomical purposes, this system is not always best-suited to managing...
Cash flow is the lifeblood of a business. To survive and thrive, a company must apply cash flow management best practices to support generating sufficient cash from its business operations, investments and other sources to meet payroll, purchasing material inputs and supplies, paying for utilities, making required payments on...
In today’s economy, mergers and acquisitions (M&A) can deliver exceptional value, if managed properly and efficiently. In most cases, the key to such success is a well-managed, thorough merger and acquisition integration process. However, this procedure can be fraught with complications, since every case will need to be managed differently....
Determining the break-even point is crucial to determining margins, which, in turn, aid in financial planning for the next year. Break-even analysis determines both the minimum amount of sales required to avoid a loss or to “break-even” at the end of the fiscal year and permits you to adjust...
Generally Accepted Accounting Principles, or GAAP, is considered to be the standard for financial accounting in the U.S. GAAP is used to guide accountants through the business of recording, summarizing, and preparing financial statements. One of the most hotly contested issues over the past three decades regarding the development and application...
Managing Director Resource Planning Solutions Corporation Previously in this series we discussed the importance of first designating the critical success factors necessary for an organization to achieve its stated objectives, and then assigning key performance indicators (KPIs) in order to accurately measure such factors. We...