Month: June 2017

Working Capital Management – Production and Sales Flow

Working Capital Management

There is no single management style to address the multitude of working capital cycles existing in the various business sectors and the underlying industries. Taking raw resources and turning them into consumer goods has different time frames depending on the item produced. In addition, the sales period varies from product to product. Compare the production and sales cycle for an automobile to that of ice cream.

Bookkeeping – Meals Tax (Lesson 56)

Meals Tax

A major source of local government revenue is the meals tax. Most states authorize the right of local governments to raise revenues utilizing a meals tax. It is defined differently in each state. If a business is involved in the food service sector the bookkeeper needs to grasp the fundamental concepts of how the food tax is structured. In addition, this tax collection process is accounted for in a similar manner as sales tax.