planning

Tag: planning

Margin vs Markup

See Also: Gross Profit Margin Analysis Retail Markup Chart of Accounts (COA) Margin Percentage Calculation Markup Percentage Calculation Margin vs Markup Differences Is there a difference between margin vs markup? Absolutely. More and more in today’s environment, these two terms are being used interchangeably to mean gross margin, but that misunderstanding may be the menace

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Threat of New Entrants (one of Porter’s Five Forces)

See also: Porter’s Five Forces of Competition Supplier Power Buyer Bargaining Power Threat of Substitutes Intensity of Rivalry Complementors (Sixth Force) In Porters five forces, threat of new entrants refers to the threat new competitors pose to existing competitors in an industry. Therefore, a profitable industry will attract more competitors looking to achieve profits. If

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SWOT Analysis

See Also: Porter’s 5 Forces of Competition Core Competencies How to Write an Action Plan How to Turnaround a Company SWOT Analysis The SWOT Analysis – an acronym standing for Strengths, Weaknesses, Opportunities, and Threats – assesses a company’s competition in the desired field or market. This analysis serves as an excellent tool for decision-making, either

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Revocable Trust

See Also: Pension Plans Keogh Plan Credit Life Insurance 401k Individual Retirement Account (IRA) Revocable Trust Definition A revocable trust is an agreement between a grantor and trustee where it transfers profit generating assets to the trustee. However, the grantor is still able to generate income from the assets. The grantor is also able to

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Red Herring Definition

See Also: Ten In-House Secrets for Reducing Your Company’s Legal Costs Board of Directors Benefits of an Advisory Board How to Form an Advisory Board Why is Intellectual Property Risk Everybody’s Problem Red Herring Definition The red herring definition, or preliminary prospectus, is a legal document that must be submitted to the SEC for approval

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Remuneration Definition

See Also: Pension Plans Cafeteria Plan How to compensate sales staff Passive Income Electronic Funds Transfer (EFT) Remuneration Definition We can define remunerations as compensation for employment services. Remuneration can include hourly wages, fringe benefits, salary compensations, and other forms of compensation such as stock options and cash bonuses. Strategies differ across industries and companies.

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Intensity of Rivalry (one of Porter’s Five Forces)

See also: Porter’s Five Forces of Competition Threat of New Entrants Supplier Power Buyer Bargaining Power Threat of Substitutes Complementors (Sixth Force) Porter’s Intensity of Rivalry Definition The intensity of rivalry among competitors in an industry refers to the extent to which firms within an industry put pressure on one another and limit each other’s

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Forecasting in Accounting

See Also: ProForma Financial Statements Cost Center Weighted Average Cost of Capital (WACC) Percent of Sales Method Standard Costing System Comparison Analysis Budgeting vs Forecasting Forecasting in Accounting Forecasting in accounting refers to the process of using current and historic cost data to predict future costs. Forecasting is important for planning purposes – it is necessary to

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Designing an Internship Program

5 Steps to Designing an Internship Program Internship programs are a great way for your organization to bring in new talent and fresh ideas with motivated and knowledgeable interns. Many companies offer internship programs for college students. Both the organization and the interns benefit from the value of an internship experience. Establishing successful intern programs

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Activity-based Costing (ABC) vs Traditional Costing

See Also: Activity Based Costing Standard Costing System Cost Driver Value Chain Implementing Activity Based Costing Absorption vs Variable Costing Activity Based Management Process Costing Overhead Job Costing Activity Based Costing Costing vs Traditional Costing In the field of accounting, activity-based costing and traditional costing are two different methods for allocating indirect (overhead) costs to products.

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Have an Audacious Vision! – Part I

Audacious – bold, daring, or fearless, especially in challenging assumptions or conventions. As the New Year begins, we like to re-focus on our company’s mission and vision.  Recently, I came across the concept of “audacious vision”.  What does that mean?  Put simply, it’s more than a run-of-the-mill mission or vision statement.  It’s a vision that

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Starting the New Year Right!

One of the best practices at our company is to bring the leadership team together to reflect on our successes and short-comings of the past year, then build on them. We find by aligning the key players we can hit the ground running in the first quarter. Below are our steps in setting goals and

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