The Latest Accounting And Finance Policies

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Accounting and finance policies have a tremendous impact towards your business. It enables you to understand the correct process and policies in regards to your business, and helps you to prepare a budget as well as undertake the basic bookkeeping principles for the maintenance of the business.

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Presentation Transcript

The Latest Accounting And Finance Policies:

The Latest Accounting And Finance Policies

Slide 2:

Accounting and finance policies have a tremendous impact towards your business. It enables you to understand the correct process and policies in regards to your business, and helps you to prepare a budget as well as undertake the basic bookkeeping principles for the maintenance of the business. What does accounting and finance policies include? Management of the debtor: - Debtor management basically happens to be the process of creating decisions that are related to any kind of investment in the business debtors.

Slide 3:

There is a certainty that you need to pay some money in order to extract the money from the debtors, otherwise they stand to become bad debts, and you risk a substantial loss. It is always important to minimize this loss by taking the use of debtor management. Points under debtor management: - Purpose of policy. Responsibility of the company. Approval of exceptions. Dealing with bad debts and the subsequent recovery. Management of bad debts on the assets of the company.

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Management of the creditor: - The credit management is essentially a process in which you can control as well as collect the payments from the customers. This happens to be a function found within the bank of the company so as to control the policy of providing credit towards businesses and individuals. It leads to an improvement in the revenue as well as reduce any kind of financial risk. Points under credit management: - The purpose of providing the credit. Responsibility of the company and the party. The usual timeframe for the repayment of the credit. Approval of exceptions.

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The true purpose of undertaking the latest accounting and financial policies have always been to keep the company moving full steam forward, while at the same time trying to maintain all the legal formalities necessary for a company to function. To know more about HR policies of companies in India, be sure to check out this site.  

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