Inventory Controls to Prevent Waste and Theft
Retailers, wholesalers, and manufacturers are typical businesses that hold inventory (stock). Inventory comes with risks such as damages, theft and obsolescence. It also ties up capital and has related administrative costs. You can lose money on inventory. But you don’t want to lose money so…
How Is Your Income Tax Computed?
Ask a layman, “how is your income tax computed?” You may get a blank stare! Accounting and tax laws determine what goes into calculating your taxes. This makes it hard to comprehend for many people. Yet at a high level, the process of computing income…
Controls Over Cash Receipts
How will you make sure you get all the cash you receive? Controls over cash receipts are essential to prevent errors and theft. In this article we discuss arrangements you can use to make sure your get all your cash receipts. Your customers will make…
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