Will your accounting team pass the final test of the year-end season? Here’s a nine-item problem set.
It’s been a big push, but you’ve finally gotten everyone to account for their time. Your people are reporting their hours every week, charging them to their various projects or to overhead, and from their time sheets it looks like they’re all reasonably productive. Now what? How do you determine whether you’re making any money on their work?
If your company operates in an industry in which advance payments are the norm, your need for outside working capital may be reduced. But in business, as in personal life, spending money before you earn it can have unfortunate consequences.
“I don’t understand,” said 13-year-old Noah over breakfast last Sunday. He’d just seen a replay of one of his favorite Red Sox players, Manny Ramirez , hitting a two-run homer for the Los Angeles Dodgers to spark their Saturday night victory. “The Sox just gave him away. They’re even paying his salary for the rest […]