Bookkeeping

The Importance of Purchase Price Variance in the Budget

It’s a key focus for any executive; in fact, improving profit margins via cost reduction stays among the top priorities of the high-performing CPOs. According to Deloitte’s Annual Global Chief Procurement Officer Survey 2023, it’s highlighted as the number three priority by 71% of CPOs. This information can be helpful when trying to identify reasons

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Natural Business Year financial definition of Natural Business Year

The reduced amount of audit work means that audit fees can be reduced. For businesses with distinct seasonal sales patterns, aligning operations with these cycles can improve decision-making and resource allocation. For example, a natural business year hospitality business experiencing peak revenue during summer tourism can adjust its fiscal year to encompass this high-demand period.

Natural Business Year financial definition of Natural Business Year Leer más »

Natural Business Year financial definition of Natural Business Year

The reduced amount of audit work means that audit fees can be reduced. For businesses with distinct seasonal sales patterns, aligning operations with these cycles can improve decision-making and resource allocation. For example, a natural business year hospitality business experiencing peak revenue during summer tourism can adjust its fiscal year to encompass this high-demand period.

Natural Business Year financial definition of Natural Business Year Leer más »