Three-Way Matching: Definition, Components, Objectives, Advantages & Disadvantages |PDF

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Three-way matching image

Three-way matching of vendor invoices is an essential internal control process. Using this process, a company can bypass profit drains from making erroneous, duplicates, or fraudulent payments. It is a method for processing a vendor invoice to ensure that payment is complete and accurate. The primary objective of this process is to save businesses from overspending or paying for an item that they didn’t receive.

What is Sales Forecasting? | Sales Forecasting Method, Types, Importance, and Elements | Sales Forecasting PDF

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sales forecasting image

s forecasting is an essential business practice. Sales forecasts allow business leaders to make wiser decisions about setting up goals, budgeting, hiring, and other things involving cash flow.

What is Inventory?

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Inventory or stock is the term refers to the goods and materials that a business holds for the goal of resale, production or utilisation. In a manufacturing industry, inventory is not only the final goods manufactured and ready to sell, but also the raw materials used in manufacturing and the semi-finished goods in the warehouse or on the factory floor. … Read more

What is Activity-Based Budgeting? Definition, Example, Advantages, Disadvantages & Implementation | PDF Inside

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Activity-Based Budgeting

Activity-based budgeting is often used in cost accounting. Managers make budgets and spending recommendations based on past production activities. Management examines the costs of performing particular activities, like bending a fender for a car, to budget the overall costs of manufacturing a product.