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 …
I have been working as a staff accountant for three different companies in the past three years. All of them are in Southern California, Orange County, to be exact. From my experience, getting an accounting job in Southern California is not difficult as there are plenty of opportunities around. I think three main factors that …
Accrual basis and cash basis are the most fundamental concepts of accounting. Students, who major in business administration or accounting, often learn these definitions on the first days in their accounting classes. When I first learned about these two methods in my accounting classes in college, I thought that a business could only follow either …
Texas Instruments (TI) and Hewlett-Packard (HP) were two electronics firms that developed, manufactured, and sold electronic products. Although the two firms operated in similar industries, they chose very different management control systems and strategies. While TI’s competitive advantage was mainly based on high volume and low price, HP’s competitive advantage was to manufacture high-value and …