TAILIEUCHUNG - Ebook The controllers function - The work of the managerial accountant (third edition): Part 2

(BQ) Part 2 book "The controllers function - The work of the managerial accountant" has contents: Receivables, inventory; property, plant, and equipment; operational accounting, closing procedures, selecting a financial information system, project risk management,.and other contents. | 12 RECEIVABLES Accounts receivable are an important item in the balance sheets of most business concerns and must be carefully controlled to avoid excessive working capital requirements. Proper procedures and adequate safeguards on these accounts are essential not only to the continued success of the enterprise but also to satisfactory customer relationships. Control of accounts receivable begins before the agreement to ship the merchandise, continues through the preparation and issuance of the billing, and ends with the collection of all sums due. The procedure is closely related to cash receipts control and inventory control, acting as the link between the two. This chapter introduces ways to measure, manage, and control the receivables function. FUNCTIONS OF THE CREDIT DEPARTMENT The credit manager should assist in stimulating business through a wise extension of credit and also keep bad debt losses at a reasonably low level. The credit manager is also responsible for collecting receivables. In detail, the credit department’s tasks are to: • Establish credit policies. This involves such questions as the class of risk to accept, rigidity of credit term enforcement, and adjustment policies to be followed. • Investigate credit. This requires a continuous procedure for securing and analyzing information concerning the responsibility of present and prospective customers. Information about customers can be collected from: ⅙ Commercial credit reporting agencies, such as Dun & Bradstreet 219 220 Receivables ⅙ ⅙ ⅙ ⅙ ⅙ Trade references supplied by the customer Banks that hold a customer’s loans, investments, and checking accounts Collection agencies The SEC’s reports on any companies that issue stock or bonds to the public The annual financial report files of the stock exchanges for those companies they list for trade • Approve credit. This requires a procedure by which the credit department definitely approves new customers and regularly reviews the credit of .

• Tin học văn phòng
• The controllers function
• Operational accounting
• Closing procedures
• Financial information system
• Project risk management
• Information technology offshore
• Administrative expenses
• Direct materials
• Annual plan
• Distribution expenses
• Long range financial plan
• Mechatronics in action
• Wireless communication technology
• Modular mechatronic controllers
• The utility function method
• Force sensing in medical robotics
• The early days of mechatronics