Monthly Archives: March 2012

Monthly Review Tips for Managers

All managers should have some monthly review system for key reports, quality control, and completeness measures. Remember that you are the first level of review and thus have the greatest opportunity to find and correct actual accounting errors. That is why I ...
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Why Use Fishbowl Software for Inventory

Fishbowl software is an Inventory Management System that interfaces with QuickBooks. It offers a full range of inventory management tracking and fulfillment activities including Bill of Materials, Manufacturing Work Orders, Finished Goods, Vendor Interface, and Sales Order Processing. While the ...
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The Percentage of Completion Method

There are several different acceptable methods for recognizing revenue for long-term contract sales: percentage of completion, installment sales, cost recovery method, and completed contract method. The most preferred method is percentage of completion, if the information is readily available. Before ...
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Do Non-Profits have a Profit Motive?

The Profit Motive is a widely discussed and acknowledged concept in the business world. Generally speaking, it’s one of the few common themes and motivations in all businesses. The majority of business analysis and managerial accounting efforts are designed to fulfill ...
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What is a Lien Release?

Lien releases are prevalent in the construction industry and are extremely helpful in mitigating liability. But what is a lien release? Lien notices are the only safeguards a contractor can use to ensure payment on a completed job, and a ...
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