Business and Accounting Blog
Overview of Business Intelligence Business intelligence (BI) is the process of achieving data from a data warehouse to produce business reports and analysis. It enables companies to decrease their information technology structure costs (e.g., hardware costs, software costs, human operation costs) by removing redundant data. BI tends to solve problems in an organization with enormous…
Basic Concepts of Hypothesis Testing in Statistics In hypothesis testing, a population is a group of entities that share at least one thing in common. For example, all Americans who own a house are a population. A parameter of a population is an attribute that describes an entire population. For instance, the mean income of…
Current technology and the business environment have made creativity more important than ever to businesses. Not only do companies continually need to come up with new products and reinvent themselves, but they also need to do those tasks creatively. There are many creative problem-solving tools that organizations can use to increase their competitiveness. Within the…
In today’s business world, where everything is continuously changing at a fast pace, the ability to arrive at solutions to new problems is in demand. It is a multistage process for businesses to come up with the right solutions for their problems. This post goes through the nine-stage process model for creative problem-solving. The process…
Petty cash is small amounts of money issued to a few employees (e.g., office administrators, human resources managers, treasurers) to buy office supplies or organize the company’s events. The amounts are generally less $500. As an accountant for three different companies, I think that the process of issuing petty cash is the same for big…