Month: June 2014

Opportunity Cost: Why Should Accountants Care?

Opportunity Cost: Why Should Accountants Care?

Finance describes costs that are not measured by accountants but nonetheless important in business decisions. One such cost is the opportunity cost, or the cost of the “road not taken.” Opportunity costs are not recorded on …
Accounting Controls: What they are and How they are Used

Accounting Controls: What they are and How they are Used

Accounting controls are standardized methods that reduce errors and mismanagement. Even the smallest companies can implement basic accounting controls to ensure proper handling of financial transactions. Credit Controls Credit controls mitigate the risk of customers …