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Here are the Editor's Picks articles for the Accounting Site! These are the top ten articles that your Accounting Editor feels are most important for you to read. Enjoy!
1. Inventory Analysis & Management
How to avoid overstocking or understocking and use investment optimally. What is inventory turnover and how it affects financial statements. How to calculate the number of days it takes to sell inventory.
2. Financial Statements Explained
Understand what the figures in the financial statements mean in regards to the business. Monitor your business' health with a few simple ratios and take timely corrective or preventive actions. Use financial statements to analyse your business.
3. Credit Sale & Debtors' Management
Tips on effective credit sales and minimizing bad debts. Follow few simple rules and optimize collection from your debtors. Effective accounts receivable management. Bad debts allowance calculation and how it is accounted.
All you need to know for preparing an effective budget and using it to promote continual improvement, whether in business or in the family - avoid the credit squeeze with an effective budget. Estimated expenditure and income
5. Working Capital - Business Finance
Importance of Working Capital in a business. Learn how to maintain a healthy cashflow and avoid cash deficits. Understand why net income is not a measure of healthy cashflow.
6. Letters of Credit - Types
Different types of LCs and their applications explained and how to effectively use the right LC to finance procurement. Understand the operational risks and the level of payment security under different types of LCs.
7. Back to Back & Standby LCs explained
Understand what a Standby Letter of Credit (Standby LC) is and why it is infrequently used. Similarities and dissimilarities between a Back-to-Back Letter of Credit and a Transferable Letter of Credit and the risks associated with each.
8. Incoterms for Sea Shipments
Learn about International Commercial Terms (Incoterms) which are used only for sea shipments and seller's responsibilities under each of them - Free Alongside Ship (FAS), Free on Board (FOB), Cost & Freight (C&F) and Cost, Insurance & Freight (CIF) and, how these differ from General Incoterms.
9. Accounting for Non Financial Managers
Understand these basic accounting terms and learn what they say about your business, healthy signs that would attract a potential investor, be aware of the intangible assets that add value to the business.
10. Incoterms - General Rules
The importance of Incoterms in international trade. Understand the risks and responsibilities associated with each Incoterm and learn how to use the right one to avoid trade disputes and litigations.
Be sure to visit the Accounting Archives for all the articles!
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