War stories, sensible discussions and life by means of the eyes of an accountant, spiced with some gentle humour.
I did not know that you also touch on this subject matter. I am a CPA, so most of the articles that I crank out, are of this niche. I taught AIS to graduating students, two years ago. It is 1 of the toughest Accounting subject in Accountancy for upper class males (5th year level). AIS basically means automating the complete approach to make cranking out of financial statements less complicated and less messy: therefore, the need to know about software program application is a need to.
The particular objective management accounting report that could be developed for the Sales Manager could be entitled Weekly Sales Report”. The report would be issued at the finish of the week and would incorporate the weekly sales total for every single sales representative and the sales aim the sales team is trying to obtain. The sales ambitions could be broken down by month-to-month sales, quarterly sales, or annual sales.
For instance, In a credit sale transaction, the sales account is credited in excess by say, Rs.five,000 and similarly the suppliers account in case of a credit acquire is understated by Rs.5,000, this is a case of two errors compensating for every single other folks impact. It is to be noted that extra credit to the sales account is offset by decrease credit to the creditor’s account, both becoming credit balance. Given that, 1 plus is set off by the other minus, the net effect of these two errors getting of compensating nature and do not impact the agreement of trial balance.