Accounts Receivable Management Accounts receivable are amounts owed by customers on account. They result from the sale of goods and services. They are generally expected to be collected within thirty to sixty days and are the most significant type of claim held by a company. There are two costs associated with extending credit to customers: 1. The cost of the selling company not being able to deposit the monetary value of a completed sale in its bank that is‚ as a result of not collecting cash
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Reflective Account of My Day at Work Yesterday I started my day at work at 7:30 am as I was rotted for an early shift as a duty manager for that day. I am following three weeks rolling rota with my colleagues from Senior Management Team (SMT). First of my responsibilities determined by Health and Safety at Work Act as well as our own Signing in Book Policy was to sign in the signing in book. This will ensure that it is known that I am in the building. All the staff coming on duty is required to
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have been put into effect in recent years. For many companies‚ especially small ones‚ the checks and balances are not put into place as well as they should be. With new laws in effect and more and more accountants paying attention to their clients’ accounts‚ ethical behavior is on the rise although it will take a long time to recover from the scandals that rocked the world beginning with Waste Management in 1998 and following with Enron‚ WorldCom‚ Tyco‚ HealthSouth‚ Freddie Mac‚ AIG‚ Lehman Brothers
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Accounts Receivable Turnover = Net Sales/Average Net Account Receivables Accounts receivable turnover ratio measures the effectiveness of a company in extending credit and collecting debts. It is an activity ratio that measures how efficiently a firm uses its assets. Year ABC DEF GHI Industry Average 2012 31‚ 053/988 = 31.43 16‚842/1‚282.5 = 13.13 5‚160/618 = 8.35 17.64 2013 32‚722/1‚042 = 31.4 18‚657/937 = 19.91 5‚858/494 = 11.86 21.06 In this table you see the accounts receivable turnovers from
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BANK ACCOUNT: A bank account is a financial account which tells you details or records of all the financial transactions that occurs between bank and the customer and also the financial state of the customer after that. There is a process of opening an account which is as follow: 1. The Type of Bank Account which you wish to open: There are following types of accounts like fixed deposit account‚ saving account and the current account. You choose any of them according to your need. 2.
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REFLECTIVE ACCOUNTS The word reflective or reflection is derived from the word reflect. The Oxford dictionary meaning of reflect is “to think carefully and deeply about something”. The word “reflective” is an adjective used to describe the kind of report or writing you are required to submit for your Diploma. Therefore a reflective account can be understood as a real or true story of how you have carried out an activity at work or an action you took in the past and why you took the action.
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ASSIGNMENT FINAL REPORT TOPIC: CAPITAL ACCOUNT CONVERTIBILITY ABSTRACT This report has been prepared to discuss the issue of Capital Account Convertibility (CAC) and India’s experience with it. The concept of CAC and its history and its implications has been discussed. The recommendations of the Tarapore Committee (the committee set up for looking into the issue of CAC) have been presented. Lastly‚ the progress
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How do you account for the rise of the Born Global? Introduction Since 1980s‚ along with the development of economic globalization‚ there is a new form of enterprise internationalization in the global range which called Born Global enterprises. This type of firm normally engages in significant international activity and promptly starts penetration to the international market from its establishment. But more remarkably‚ those Born Global firms get involved in international market and participate
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1. What was the Kanthal president‚ Ridderstråle‚ attempting to accomplish with the Account Management System? Are these sensible goals? Ridderstrale had the objective to find hidden profits and losses contained in their current accounting system. The old system did not fully disclose how their costs were applied to the sales accounts. The goals are very sensible as they will allow them to move forward with the proper information. 2. Why did Ridderstråle feel that the previous cost system
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from customers Rs. 3‚00‚000 31.1.2011 Paid interest on loan Rs. 5‚000 31.1.2011 Paid instalment of loan Rs. 25‚000 31.1.2011 Interest allowed by bank Rs. 8‚000 Analysis of transaction –with accounts involved-nature of account-affects and debit/credit Solution: Date Accounts Involved Nature of Account Affects Debit/credit 18.1.2011 Cash a/c Sanjay a/c Real Personal Cash is coming in Sanjay is the giver Debit Credit 19.1.2011 Ramu’s a/c Bank a/c Personal Personal Ramu is the receiver
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