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Revenue recognition accounting is a process that describes how a company records sales transactions in financial statements. When recording revenue, companies are required to comply with Generally Accepted Accounting Principles (GAAP). Under GAAP, to record a sale as revenue, the revenue must be recognized initially. Consequently, for an income to be recognized, it must be… Continue reading
Understand what is an inventory management software in the United Arab Emirates Inventory management software is a system that allows you to keep track of products throughout your company’s supply chain. Tracks electronically the levels of products and units, orders, sales and deliveries. At the same time, it provides tools to monitor stock levels and… Continue reading
If you are a young professional in today’s market, you may be interested in acquiring your first home. You may also realize the hassle of living to get approved for a loan in this economy where employers can name whatever price they want due to a shortage of jobs. However, young professionals have more options… Continue reading
Sir Isaac Newton’s third law of motion, the law of reciprocal actions, states that for every action there is an equal and opposite reaction. The same can be said for accounting. For every financial transaction, there are two sides. There is a debit side and a credit side. For each transaction, these sides must be… Continue reading
Over the past five years, there has been an increase in sources of business financing in the U.S. Specifically, there has been a proliferation in the alternative loan market that fills the need for business owners who do not have credit (personal or commercial) or the operational capacity to obtain approval for traditional bank financing.… Continue reading
Predatory loans exist in the mortgage industry. This is usually when a mortgage broker adds unnecessary fees to a bad credit application, knowing that the applicant is in dire straits. Predatory banking can also exist for those who ended up at ChexSystems. ChexSystems is a network of financial institutions (mainly banks) that regularly provide information… Continue reading
Many timeshare owners are trying to get rid of their shared property, which is reflected in the resale market, especially on online auction sites like eBay. It is no secret that the economy is getting tough and that everyone is more aware of the value of money. Prices are constantly increasing and the importance of… Continue reading
We’ve all seen the headlines: Major organizations like Sony, Citigroup, Google, and AOL experience a “data breach” in which sensitive information is compromised. But did you know: According to a 2011 Verizon Business report of more than 760 data breaches analyzed in 2010, nearly two-thirds involved companies with fewer than 100 employees. It is important… Continue reading
Over the years, companies are implementing various approaches to retain their customers / clients and win over their competitors. With the development of information systems applications, companies have managed to capture an enormous amount of data about customers and products through barcode scanning, online shopping, surveys, etc. However, this data can help you make informed… Continue reading
We all make mistakes, but on the payroll there seem to be a lot of mistakes to make. Below is a list of 13 of the most common payroll errors I’ve seen and I’ve compiled them into a single list. I hope they are useful to you and can help you improve your own payroll… Continue reading