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Cash Basis vs. Accrual Basis: What’s the Difference?

CFO Simplified

Here, you’d have a huge amount of profit all at once. However, if you paid to cover all those past due payments, you would register a HUGE loss in that month because of the high amount of cash going out of your business. That net is how much of a profit or loss you had for that month.

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Dealing with Obsolete Inventory

CFO Simplified

For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. Business – Dress Manufacturer. Unfortunately, financial reporting had been inconsistent, so the owners wanted help putting together a set of financials that the bank would accept. Recommendations.

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A Modern Nonprofit Podcast: Talking Through WIN-WIN (Warehouse) Scenarios

The Charity CFO

manufacturer, distributor, consumer processes.) When liquidation takes place, more often than not the corporation would be at a negative or loss on the resale of office chairs. Do You Struggle to Make Sense of Your Financial Statements? Because of this, they] are stuck in different areas and that is problematic.’

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This FP&A Factor will Cost US Businesses $7,800,000,000 in 2022

The Finance Weekly

A study by the University of Baltimore and Excel-based FP&A company, , DataRails , lays out the full economic costs of businesses sticking with manually prepared financial reports. billion is the first number that came out of the research and this represents the total amount of money lost by manual financial work.

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Budgeting for Analysis

CFO Simplified

Produce a set of trend-line reports for each item group for the past three years of sales. Examine the manufacturing variances over the past year to identify any continuing variances that might require a change in process to improve performance. The initial draft of the budget projected a year-end loss of over $3.3 Evaluation.

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10 Tips CFOs Can Use to Put AI in Finance to Work Today

Planful

Research from the Wharton School of the University of Pennsylvania suggests that, since AI can lead companies to become more profitable, companies can then hire more employees. This was great for business but led to increasingly long financial reconciliation times. But what happens to humans when the bots take over?

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Planning business scenarios for financial agility

Future CFO

The on-going COVID-19 pandemic has irrevocably disrupted the global economy at an unprecedented scale – forcing manufacturing facilities to shut down, grounding thousands of land, air and sea transportation, and compelling companies to adapt work-from-home arrangement when authorities put quarantine measures in place. Sumesh Balakrishnan.