Finance and accounting

It is not uncommon for a group of new or recent graduates in computing to decide to set up their own company to provide software services. Initially at least, their intention is typically to offer contract hire services, that is, to offer their services as programmers charging a daily fee. Not infrequently, however, they also intend to develop packages to meet perceived gaps in the market. 

Even if the intention is only to cany out contract hire work, there will be a need to have some money with which to start the venture. Invoices are normally issued at the end of a month to cover the work that has been done during the month. A client is unlikely to pay an invoice within less than one month of receiving it. Two months is more likely with commercial clients and three months is not uncommon some large companies are notorious for not paying invoices for as much as six or even twelve months. The result is that the group needs enough cash in hand to be able to five for at least three months. Additional money will be needed for the expenses of starting the compatty. 

If the group intends to develop packages, a much larger sum of money is likely to be needed. While the packages are being developed, there will be no revenue coming into the company. For this period cash will be needed for  

However successful the development of the packages, it will take some months before sales reach a level sufficient to cover the company s on-going costs, so, even after development is complete, more cash will be needed. 

How does one set about raising this money The first step is to produce a business plan. The pitrpose of this docirment is to explain the plans to potential funders and to convince them that the plans are well thought out and that the ventirre is likely to be successful. It typically contains  

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As discussed in Sections 13.0 and 14.0, the management of operating expenditure (opex) is a major issue, since initial estimates of opex are often far exceeded in reality, and may threaten the profitability of a project. Within the FDP, it is therefore useful to specify the system which will be used to measure the opex. Without measuring opex, there is no chance of managing it. This will involve the joint effort of production operations, finance and accounting, and the development managers. 

Feinschreiber R, Kent M (2003) Transfer pricing for intercompany transactions. In Choi FDS (ed) International Finance and Accounting Handbook, 3rd edn. John Wiley Sons, New York et al. pp 29.1-29.40 Ferdows K (1997a) Made in the world the global spread of production. 

Decision support Sales and distribution Sourcing and procurement Manufacturing Logistics/transportation Human resources Finance and accounting... 

The business and accounting literature contain a wealth of information on how to read and analyze corporate financial statements. Most engineers work for or with corporations and have a direct personal interest in understanding financial performance however, a detailed treatment of the subject is beyond the scope of this book. Excellent introductions to finance and accounting are given in the books by Spiro (1996) and Shim and Henteleff (1995). 

W. C. Lawler, Cost-Volume-Profit Analysis in J. L. Livingstone and T. Grossman (eds.) The Portable MBA in Finance and Accounting, Wiley, New York, 2002, pp. 102-124... 

Content comprehensiveness (covers all the necessary points) critical analysis (active independent criticism rather than just reporting the facts) use of concepts of finance and accounting principles developed in the course originality and scope (instructor assesses overall impact of the talk and the general impression made). 

The conception and production of the vaccines against HPV were a stunning victory for scientists, but as we are seeing, producing the vaccine was the easy part. Now the hard work of blending international law, public perception, morality, and business finance and accounting begins. 

Steeley, J. M. 1991. Estimating the Gilt-Edged Term Structure Basis SpUnes and Confidence Intervals. Journal of Business Finance and Accounting 18, 513-530. 

BPO Business Process Outsourcing. Contracting out for support services beyond information technology. Examples include human resources, finance and accounting, and logistics services. 

Finance and accounting section (computerized control system). 

Kabushiki Kaisha Source Finance and Accounting Section, IGFC, Survey, 1947, HA. 

Major business activities finance and accounting, operations and production, marketing and sales, and information management. 

Degraeve, Z. and R Roodhooft. 2000. A mathematical programming approach for procurement using activity based costing. Journal of Business Finance and Accounting. 27 69-98. 

Michael Muckian, in The Complete Idiot s Guide to Finance and Accounting (2011), speaks emphatically about how each operation in an organization has a financial impact on results. He encourages all who have management responsibilities to acquire knowledge of financial basics. Consider these excerpts ... 

The Complete Idiot s Guide to Finance and Accounting by Michael Muckian (2011)... 

There are many short courses and self-study courses available on the basics of financial management. Only two are cited here. The American Management Association (AMA) gives a three-day course titled Fundamentals of Finance and Accounting for Nonfinancial Managers. ... 

We can expect that people who work in finance and accounting, and those whose daily responsibilities include financial and accounting work, feel comfortable conversing in financial terms. As an example of this, on a third-quarter 2013 earnings conference call made by Dick s Sporting Goods, Inc., we see common phrases used in most earnings conference calls. 

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