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Hub You - Practical Accounting 3
Whosoever said that your professional career starts only after you graduate from college or is only partly right. If you don’t include career planning as the fundamental stepping stone for your future, you will be doing yourself a disservice. Yes, your career can wait until you are out of college but planning can’t. Whether you are a new grad or a professional seeking to switch gears, now is the right time to consider your options.Starting EarlyNo matter how much professional experiences you acquire, developing a list of p
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a se
Finding work can be difficult - hours spent walking around job centres, scouring job listings in newspapers and calling prospective employers. However, with today’s technology you have the most advanced form of job hunting at your fingertips - the internet. Here are 7 good reasons why getting a job online has never been easier.1. The internet has the biggest source of job listings all combined in one place. If you know how to use it properly, it can save you time and energy and allow you to stay on top of recent job postings and b
This is the single most neglected feature in any organisation.
Yet without setting budgets we have no goal posts through which to kick the ball!
As in sport, we should always strive to stretch our limits. Thus Sales Budgets provide the impetus that drives the whole venture.
We all need some yard stick by which to determine what pricing to put on to a product or service that we sell.
It is often easy to determine the price that we pay for an item that we purchase – just look at the invoice!
However, not even this is always so easy. Do we buy it from Supplier “A” or Supplier “B”. Which gives the best price, then do either offer better pricing for bulk buys? Again, once we have set a realistic Sales Budget, then we can determine our quantity requirements in order to meet those sales. Possibly, on that basis we can negotiate better buying prices.
If we are buying multiple components to manufacture something then the number of questions begin to increase.
The next questions that then arise are quality of components, and suitability of combining one with another. What about wastage – can we afford to either scrap or re-work components?
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a se
For certain organizations like those that are non-profit enterprises, fundraising serves as the primary way of obtaining money for specific endeavors and operations which usually include a broad spectrum of concerns.These fundraising efforts are usually targeted towards religious and philanthropic causes, research organizations, public broadcasters, and even political campaigns.Aside from having a worthy cause or project and researching about the potential sources of funds, one of the most important aspects when getting int
We all need some yard stick by which to determine what pricing to put on to a product or service that we sell.
It is often easy to determine the price that we pay for an item that we purchase – just look at the invoice!
However, not even this is always so easy. Do we buy it from Supplier “A” or Supplier “B”. Which gives the best price, then do either offer better pricing for bulk buys? Again, once we have set a realistic Sales Budget, then we can determine our quantity requirements in order to meet those sales. Possibly, on that basis we can negotiate better buying prices.
If we are buying multiple components to manufacture something then the number of questions begin to increase.
The next questions that then arise are quality of components, and suitability of combining one with another. What about wastage – can we afford to either scrap or re-work components?
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a se
Professional corporate kits are binders that are used by corporations or limited liability companies to keep essential corporate documents to comply with corporate formalities. A professional corporate kit is a professional binder that is enclosed in a matching slipcase and customized with the corporate name on the spine. A professional corporate kit typically contains custom-made stock certificates printed with the corporate name, a stock transfer ledger to maintain accurate records of the corporate stock, a custom corporate seal, sampl
If we are buying multiple components to manufacture something then the number of questions begin to increase.
The next questions that then arise are quality of components, and suitability of combining one with another. What about wastage – can we afford to either scrap or re-work components?
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a se
It sounds good: I know you do some relaxation exercise or reading some magazines in your drawing room leisurely. You hear a number of sounds that come from the street outside. Some are attractive while some distract attention! You like it or not, you need to hear all these noises.Nutty business:Now also you here a bell-ring sounds differently, with a unique musical rapidity. You know, it is a special sound coming from a hot selling item on the street: It is the peanuts! Some call it groundnuts too!
If we are buying multiple components to manufacture something then the number of questions begin to increase.
The next questions that then arise are quality of components, and suitability of combining one with another. What about wastage – can we afford to either scrap or re-work components?
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a se
Any day we can pick up the paper, listen to the radio or see someone on television and learn about people whose core values have brought their behaviors to local, state or national attention. From the corrupt officials in Corporate America to the equally corrupted politicians, citizens from school age children to adults can see the affect of poor leadership when positive values or ethics are not present.Values are the rudder for successfully navigating the challenges or rocks that we face as leaders when sailing through th
What effect does re-work have on labour costs?
In a previous Practical Accounting Article we touched on Costing Theory. This also discussed the need to allocate indirect costs against the provision of a manufacturing process, or the provision of a service.
Probably, by now you begin to see the need for budgets as they can be used to assist in the costing exercise.
Where the volume of sales is somewhat consistent between one year and another then the historical figures can be adjusted to allow for the anticipated sales next period. These then become the budget for the that period.
Most of the SME accounting packages have some provision for comparing actual performance against budget. One program in the market place has a button you press that takes the actual figures into a popular spreadsheet so that changes can be made on the basis of “what if”. Unfortunately, it is not so easy to take the figures back into the program – they have to all be manually keyed!
The accounting program that I promote allows selection of figures by copy and paste either way. This does require discipline. The order of the figures being pasted back into the budget column must not be changed in order to achieve synchronisation with the “Actual” figures. Fortunately, the “Actual” figures can not be corrupted.
Now when a budget has been set-up in an accounting program, it is easy to compare Actual against Budg
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