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Category: "Finance and Accounting". View all posts.

  Accounting is the “universal language of business.” Regardless of your role or level within an organization, to communicate well with your boss, understanding that language is important. The accounting process is a system designed to record, classify, report and interpret financial data. Take the time to understand the language. Common accounting terms: Accrual method: Recognizes revenue at the point of sale and recognizes expenses…


If you’re like most professionals charged with the enormous responsibility of safeguarding your organization’s financial security, you already fully understand the importance of your role. Every day you strive to protect, control and maintain your organization’s financial health while doing everything you can think of to increase your levels of security and accountability. You understand that a solid internal control system is essential for sound…


Forecasting is the process of identifying what events are likely to happen in the future and to benefit from these events.” -American Institute of Certified Public Accountants Library—Definitions 2012 Every business needs to conduct forecasts. Forecasting is an essential part of any plan for the coming year or months. Decisions need to be made about quantities of raw materials, supplies or finished products to have…


Striking great deals is a lot like playing poker. You want to keep the other person guessing about how much you’re willing to bend, but at the same time, you don’t want to overplay your hand and see the negotiations go sour. You want lower prices, better service, better terms, and additional perks. You know your suppliers can do this. But how do you convince…


“When in Rome … ,” the saying goes. You’re in a meeting with other managers when the discussion turns to financial issues. And all of a sudden you feel like everyone else is speaking a foreign language. Where do those numbers come from? What do they mean?  Hey, just because you don’t have a formal background in finance doesn’t mean you can’t start speaking the…


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