Associated accounting issues include recognizing accounts receivable, valuing accounts receivable, and disposing of accounts receivable.
Recognizing, Valuing , and Disposing
Account receivables circularization is an audit procedure used to verify the accuracy and existence of a company's accounts receivable. It involves sending confirmation requests to customers, asking them to acknowledge the amounts they owe. This process helps auditors assess the reliability of the company's financial statements by ensuring that recorded receivables are valid and collectible. Circularization can also uncover discrepancies or potential issues in the company's accounting practices.
The Financial Accounting Standards Board (FASB)
Days to collect receivables, also known as Days Sales Outstanding (DSO), is a financial metric that measures the average number of days it takes a company to collect payment after a sale has been made. It helps assess the efficiency of a company's credit and collection processes. A lower DSO indicates quicker collection of receivables, which is generally favorable for cash flow, while a higher DSO may suggest potential issues in credit policies or customer payment behavior. The formula to calculate DSO is typically (Accounts Receivable / Total Credit Sales) x Number of Days.
iu dont know
Recognizing, Valuing , and Disposing
Account receivables circularization is an audit procedure used to verify the accuracy and existence of a company's accounts receivable. It involves sending confirmation requests to customers, asking them to acknowledge the amounts they owe. This process helps auditors assess the reliability of the company's financial statements by ensuring that recorded receivables are valid and collectible. Circularization can also uncover discrepancies or potential issues in the company's accounting practices.
Since the World War II, chart of accounts have played a vital role in the development of accounting in Poland.A writer and professor at Cologne, named Eugen Schmalenbach (1873-1955), believed that chart of accounts are not mere carriers of balances but it contains significant information which can be prepared regularly and speedily to respond rapidly to the external and internal circumstances infleuncing the economic issues of an enterprise.Schamalenbach used "price level accounting" or "uniform chart of accounts".
Cash flow factoring is a process in which companies that have cash flow issues and slow-paying customers often sell their invoices or accounts receivables to specialized companies (these are the factors). The factor advances most of the invoices by 70-90%.
The Financial Accounting Standards Board (FASB)
National Advisory Committee on Accounting Standards
Days to collect receivables, also known as Days Sales Outstanding (DSO), is a financial metric that measures the average number of days it takes a company to collect payment after a sale has been made. It helps assess the efficiency of a company's credit and collection processes. A lower DSO indicates quicker collection of receivables, which is generally favorable for cash flow, while a higher DSO may suggest potential issues in credit policies or customer payment behavior. The formula to calculate DSO is typically (Accounts Receivable / Total Credit Sales) x Number of Days.
iu dont know
please give me list the enviormental issues associated with power generation
AnswerHow do specific accounting theories helps us to understand issues relating to harmonization of accounting standard.
answer
The Financial Accounting Standards Board (FASB) is a private organization (within the Financial Accounting Foundation) that issues financial accounting and reporting standards for nongovernmental entities.