a 5 year usable life. La Familia can sell the old drill at $60‚000 inclusive of removal cost. The purchase of this new drill will result in increase business and impact on the following: • Accounts Receivable increase by $55‚000 • Inventories by $25‚000 • Accounts payable by $42‚000 At the end of the 5 years the new drill will have a residual value of $50‚000 and should be sold for that amount. La Familia funds it assets as follows : Long term Bonds 25% Preferred
Premium Generally Accepted Accounting Principles Accounts receivable Net present value
accounting software has been created in order to make this more straightforward and less time consuming for those using it. Features of accounting software range from program to program but all provide basic features which usually include accounts payable‚ accounts receivable‚ inventory‚ fixed assets and analysis. Software can be simply bought off-the-shelf‚ purpose built‚ or purchased as an add-on to current software. There are many advantages of using accounting software such as Sage compared
Premium Accounting software Accounts receivable Accounts payable
or tax errors‚ which would be the liability of the outsourced payroll company. Accounts Receivable Segregation of duties is also an important aspect for accounts receivable. Mitigating procedures should be in place and properly documented and followed to generate the receivable‚ receipt of payment and collection efforts for delinquent accounts. Accounts Payable The automation process suggested for accounts payable software that supports e-commerce solutions will help to minimize time-consuming
Premium Accounts receivable Accounting software Risk
causes his employer to issue a payment by submitting invoices for fictitious goods or services‚ inflated invoices or invoices for personal purchases.” 1 In this case‚ it just so happened that the new chief internal auditor decided to stop by the accounts payable department to collect a series of recently submitted invoices so that he could meet with the vice president to understand how the accounting codes work. In doing so‚ they found that a number of invoices had been forged. According to the 2010
Premium Accounts payable Fraud Accounts receivable
1 accessories salesperson‚ and 3 part-time staff in the small accounts department. See appendix 1 for the organizational chart. The company has a flat structure‚ which means that every member of staff can communicate with the owner directly. However‚ all structure of an organization is more hierarchical‚ with more levels of authority‚ while a flat structure has very few different levels‚ but more people in each level. The accounts department is situated on the first floor on the show room. Access
Premium Accounts receivable Accounting software Accounts payable
ability to perform without error. There are several departments in a collection agency‚ and each department works with a tremendous amount of data every day. New accounts arrive both electronically and printed as lists on paper that then have to be manually entered into the computer system by the data entry team. These accounts contain personal information about debtors including their names‚ social security number‚ dates of birth‚ as well as amounts of money they owe the client‚ which clients
Premium Accounts receivable Computer Microsoft
the profit increasing or decreasing? What were the sales records like over the past 48 months? What types of contracts are involved? (Leases‚ purchase agreements with suppliers‚ etc.) Can I see the lists of liabilities‚ accounts receivable‚ and accounts payable? Can I acquire a copy of the clearance certificate from the state tax authority? Was the equipment located inside of the building purchased or leased? Can I have copies of all advertising and sales literature? As the owner
Premium Balance sheet Generally Accepted Accounting Principles Accounts receivable
as a new customer. Sales were increased significantly which in return also increased accounts receivable and inventory balances. This was a good decisions because as sales increase so does income. Additional accounts receivable and inventory can cause more overhead but can always be controlled. Leveraging Supplier Discounts With a new customer top-line growth was achieved. With the added expenses of more accounts receivable and inventory needs the cash flow for these three years was drained. It
Premium Balance sheet Generally Accepted Accounting Principles Accounts payable
Working Capital Simulation: Managing Growth Gregory Smith FIN/571 March 10‚ 2015 Mrs. Debra Hartsfield Working Capital Simulation: Managing Growth The Harvard Business Simulation asked that one act as the C.E.O. of Sunflower Nutraceuticals (which will be referred to as SNC throughout this paper). Within the simulation there were phase in which decisions were made to help SNC with the growth of the company. This paper will explain the decisions made will influence SNC to estimate the value of the
Premium Accounts receivable Accounts payable Inventory
services‚ and striving to improve the efficiency of its operations‚ a thorough review of its current accounting information systems and prioritization of four key areas is recommended in this order: inventory management‚ payroll‚ accounts receivable‚ and accounts payable. Purchase of industry specific software will assist Kudler in reducing costs‚ improving efficiency‚ and maintaining controls as these upgrades are implemented. Toward achieving the goals of integrating and automating the various
Premium Accounts receivable Accounting software Accounts payable