From Lickspittle Shite-a-bed comes this very funny “history” of auditors, including this gem: Stocktaking is a strange version of foreplay perculiar to auditors. The audit pack will arrive at an industrial premises at 6am in the morning and demand to know how many widgets they have. The auditors will then spend many happy hours countingContinue reading “Auditor, noun: an accountant with a grudge”
Tag Archives: inventory
Attending inventory counts
Part of any audit is attendance at the client’s inventory count. If the company being audited has material inventory in multiple locations, you’ll have to observe each count. I’ve been busy lately with inventory counts. Yesterday I went to one and counted washing machines and dryers. This morning I was counting packages of cottage cheese,Continue reading “Attending inventory counts”
Improving cash flow through better payables management
There are several ways in which a business can improve their cash flow situation by optimizing their payables management. Mostly this relates to timing issues – when to pay your suppliers. Pay invoices on or close to the due date. Supplier terms are typically the only source of interest-free credit your business is going toContinue reading “Improving cash flow through better payables management”