Tag: customer

Freight on Board (FOB)

See Also: Ex Works (EXW) How to manage inventory Just in Time Inventory System Inventory Cost Accounting Principles Freight on Board (FOB) Definition Freight on Board, known internationally as Free on Board, are the terms of a transaction within a contract. The terms are there to determine liability and when revenue recognition can take place

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Data Communication Redundancy

See Also: Technology Assessment Criteria How to Respond to an Imminent Disaster Threat Technology Strategy for Small to Medium Sized Companies How to Evaluate IT Systems How do You Know When it is Time to Buy New Software Many businesses today have mission critical communication and data sharing needs. Whether these needs arise from customer

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Due Diligence on Lenders

See Also: Relationship with Your Lender Finding the Right Lender The Dilemma of Financing a Start-up Company Every Business has a Funding Source, Few have a Lender Angel Investor The Due Diligence on Lenders Definition I am sure all of you have applied for some type of a loan from some institution to be used

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Down Payment Definition

See Also: Payment Terms Notes Payable Payroll Accounting PEO Arrangement Compared to Outsourcing Payroll Payback Period Method A down payment can be defined as an initial payment towards the financing of an expensive purchase. For individuals, this purchase is similar to a car or home. For businesses, however, this purchase could be a number of

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Damage Claim

See Also: Secured Claim Unclaimed Property Evaluating and Renewing Employee Health Insurance Plan How to avoid additional insurance premiums Third Party Insurance Damage Claim Definition A damage claim, defined as the claim of damages, to a liable or insuring company, which result in financial loss from an associated victim party, are a common legal concept.

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Credit Sales

See Also: Trade Credit 5 Cs of Credit Collateralized Debt Obligations Cash Flow Statement Balance Sheet Credit Sales Definition In accounting, credit sales refer to sales that involve extending credit to the customer. The customer takes the product now and agrees to pay for it later. Credit sales are a type of trade credit. They

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Compliance Audit

See Also: Audit Scope Charge Account Managed Sales And Use Tax Audit Programs How to Control Annual Audit Fees Role of a Company Back Office Planning Your Exit Strategy Compliance Audit Definition The compliance audit definition is an audit which serves the purpose of ensuring that a company meets the requirements of an outside governing body.

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Completed Production Method

See Also: Accounting Principles Accounting Concepts Point of Sale (POS) Method Installment Sales Method Percentage Completion (POC) Method Completed Production Method Definition Completed production method accounting includes recognizing revenue as the products roll off the assembly line or are available for transportation and sale. This means that the production process is considered to be the final

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Are You Collecting Business Data?

See Also: Value Drivers: Building Reliable Systems to Sustain Growth Mining the Balance Sheet for Working Capital Inventory to Working Capital How to Run an Effective Meeting How to evaluate IT systems Collecting Business Data? It seems simple enough. You’re making a decent gross profit. You know who your customers are, you know how much

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Are You Collecting the Data You Need to Run Your Business?

“It seems simple enough. You’re making a decent gross profit. You know who your customers are, you know how much you are charging them for your product and you know how much they are buying. So no worries, right? Are You Collecting the Data You Need to Run Your Business? Well, do you know how

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