by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is DRIFT?Do it Right The First Time, also known as DRIFT, is a managerial accounting theory that relates to just-in-time (JIT) inventory system. The idea behind DRIFT is for management to ensure that all the JIT processes are efficiently carried out to avoid...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What are Internal Controls?Internal controls refer to accounting policies and auditing procedures that ensure that the accounting information of a company are accurate and reliable. Companies set up internal controls to achieve a number of objectives. The forms of...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is the Association Of Certified Fraud Examiners?The Association of Certified Fraud Examiners, also known as ACFE, is an association made of professionals, to fight fraud and cheating in business practices. It is also the accrediting body for those individuals...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is the Association of Government Accountants?The Associate of Government Accountants is a financial professional non-profit organization for accountants working for the United States Government or any other government. The work of the AGA is to further its...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What is Cost Accounting?Cost accounting refers to a systematic procedure that businesses use to record and report their cost of production. To be able to measure the cost of production, they usually assess each steps output costs involved in the production and fixed...
by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting
What are Diluted Earnings Per Share?The basic earnings per share of a company refer to the earnings made on the shares of its stock. This metric takes into account the net earning/income of a company and the total number of outstanding shares the company has. Diluted...
