11 19 rent a captive insurance company

... workload of the accounts payable staff Cost: Installation time: 3–32 Install a Payment Factory In a typical accounts payable environment, a company allows its subsidiaries to manage their own payables ... accounts payable staff is to maintain a complete and accurate database of suppliers, which typically includes address and payment information ch03_4773.qxd 12/29/06 54 9:09 AM Page 54 Accounts Payable ... collect the money at all, paying this fee is a reasonable way to reclaim VAT Examples of VAT reclamation companies are Ireland-based Fexco (www.fexcotaxreclaim.com), Meridian (a subsidiary of PRGSchultz...

Ngày tải lên: 20/06/2014, 18:20

... inflation rate, average pay raise, ch05_4773.qxd 12/29/06 8:59 AM Page 111 5–9 Include a Working Capital Analysis 111 average employee benefit percentage, seasonality percentage for revenues, changes ... charged as a standard percentage of sales, consider setting up a “freight” sales tax authority in the accounting software that will automatically include a shipping charge as part of the sales ... issues, a company can use electronic data interchange (EDI) Under this approach, a company s computer system automatically issues an electronic invoice that is set up in a standard format (as defined...

Ngày tải lên: 20/06/2014, 18:20

... banks and bank accounts The staff of AvantGard-ASP then takes two to three days to contact each bank and arrange for automated porting of the company s cash transactions to the AvantGard-ASP site, ... the company s bank accounts and the book balances it maintains for each of those accounts For example, a retail store operation may have a separate bank account for each of hundreds of locations, ... software This software maintains a central database of budgeting information that is automatically updated when users enter information They can enter information in a variety of ways—via dial-up...

Ngày tải lên: 20/06/2014, 18:20

... variances by comparing the standard scrap to actual scrap The problem with this approach is that the company adopts a mind-set that the standard scrap levels are acceptable, and so never undertakes ... for approval, though this irritates the sales manager A better and more politically correct variation is to persuade the sales manager to adopt a midway solution that leaves both parties partially ... This way, small changes in the allocation base will result in similarly small changes in the overhead cost If the allocation base is not monetary, use an allocation base that is so large that any...

Ngày tải lên: 20/06/2014, 18:20

... each additional strategic option a company wishes to have analyzed, so having a broad range of possible actions reviewed will be expensive Cost: Installation time: 11 19 Rent a Captive Insurance ... Captive Insurance Company Companies are having increasing difficulty obtaining reasonably priced insurance of all types, if they can obtain insurance at all Captive insurance companies have been used ... level Large cat bonds are almost always issued by reinsurance companies, and are typically rated as junk bonds The only recent exceptions have been the Oriental Land Company (Japanese earthquake),...

Ngày tải lên: 20/06/2014, 18:20

... Mission-Critical Activities 329 By storing computer-based training movies at a central intranet location, a company can make it available to all employees at all company locations Employees can download ... known as a data warehouse, since data of all kinds can be stored there When in place, this arrangement allows a company to store all the operating data it desires in the same place as its financial ... E-commerce Financial planning and analysis Global finance Management accounting Mergers and acquisitions Six sigma Supply-chain management Taxation Revenue-chain management All of these reasons sum...

Ngày tải lên: 20/06/2014, 18:20

... scan a bar code into a portable device but not upload the data to a central database until the end of his shift, resulting in a significant shortfall in database accuracy If the materials handling ... terminal From there, the information passes along the standard company computer network to the company materials management database Transaction verifications flow along the same route back to ... integrated with a bar code scanner that communicates by radio waves with a central warehouse database For example, a person picks a part from stock, scans the item’s bar code and the loca- ch16_4773.qxd...

Ngày tải lên: 20/06/2014, 18:20

... every day, and have a manager inquire about the status of all items in the account on a regular basis Also, not evaluate the performance of the cash application staff based on how fast they can apply ... Manufacturing National Professional Apparel Manufacturers National Electronics and Communications National Seed Distributors National Fundraising Manufacturers National Steel Mill National Garage ... National Credit Management Groups National Agricultural Credit Conference National Musical Instrument National Christian Suppliers National Paper Packaging Credit Group National Coated Paper and...

Ngày tải lên: 21/06/2014, 04:20

... documents that are immediately available to serve as back-up information, a company can literally stop functioning at once There are a number of steps that a company can take to improve the reliability ... that the archived data may be in a format that will be unreadable a few years from now—after all, how many companies today have equipment that can read data stored on one of the old storage mediums ... the CFO 11 18 Obtain advance rating assessments 11 19 Rent a captive insurance company 11 20 Use Internet-based risk measurement services 11 21 Issue catastrophe bonds (continues) ch11_4773.qxd...

Ngày tải lên: 21/06/2014, 04:20

... organizations that occupy a large geographical area, the accounting staff faces the chore of somehow sending financial and operational reporting information to many locations This can mean a mass ... create a database of all current contractual agreements, along with a central file containing copies of all the contracts An example of a contract terms database is shown in Exhibit 13.7 This database ... give each business unit manager an assigned tax contact who is available to answer taxation-related questions, as well as to review business plans for activities that may have a tax impact This...

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... documents and that must be cleared by the audit team before the work papers will receive final approval Workflow software can also maintain a database of previous audit work at each company location, as ... system, and occasionally does not a good job in this capacity For example, the late or inaccurate data entry of receiving information can lead to inaccurate financial statements, as well as inaccurate ... easily search for items of particular interest Cost: Installation time: 15 11 Create and Disseminate Information from a Best Practices Database A large company will have many internal auditors...

Ngày tải lên: 21/06/2014, 04:20

... eligibility Risk Management 11 16 Consolidate insurance policies 11 17 Obtain key man life insurance for the CFO 11 18 Obtain advance rating assessments 11 19 Rent a captive insurance company 11 20 Use ... Software, 120–121 Summary-level, 110 111 Business driver analysis, see Driver analysis Calendars, activity, 306 Capacity Analysis, 106–107 Tracking, 212 Capital budget, 118 , 119 –120 Captive insurance ... for Best Practices (Chapter 9) • The company shall maintain material and labor record accuracy of at least _%, which shall be verified on a regular basis by the internal audit staff ch19_4773.qxd...

Ngày tải lên: 21/06/2014, 04:20