Question

can i get an article related to finance ( auditing, inventory management, revenue or asset management) and 1 page summary related to the article. Eg. Article like Investing in start ups.

the article should be current one.

Answer 1

Auditing:-

Auditing is an art of examining/check of the recorded data, The Data can be of an organisation, Company of any sector. the Audit can be of Two Type 1. Internal Audit & External Audit. Internal Audit are conducted by the internal auditor which can be an employee or full time staff, and external Auditor is a statutory auditor who use to audit the financial of the company and certify the accuracy of the books and he will be an external person or praticing Auditor as per india the external auditor will be a chartered accountant.

Internal Audit can be of Many Like: Operational Audit, Management Audit etc, Both of the audit is conducted for providing the information to management for decision making. It help set a policy and operational proceduree which has to be excecuted on daily basis, Many Manufacturing company also conduct the cost Audit as per ICAI, Cost Audit is conducted to autinticate the accuraccy of Cost of Production.

Inventory Mangement:-

Inventory Management is a process of Managing the stock of Raw Material for Production, Inventory Management will ensure the regular supply of Material to the production Line, there are Many techique to Manage the inventory. Like FIFO , LIFO weighted avg etc, and also in modern year many company manage to do a JIT inventory system to reduce holding cost or blockage of fund, Holding lost of inventory is a dead investment, Inventory is an Asset to the company but blockage of Liquid Fund, so proper inventory Management will help is requcing the stock and will increase the Fund Flow. In normal Case Weighted Avg Method is taken for valuation of Inventory.. Finshed Goods can also me considered as inventory which is ready for build revenue, WIP is also a semi finished inventory, A simple term of Inventory is called stock.

Revenue :-

Revenue is called as Sales/Turnover of an organisation, Total Sale Value of an organisation is called Revenue. Which build Company Net worth Value, Income and strength for further spending.

Asset :-

Asset is the net worth of a company or Asset of the shareholders, what shareholder have to contribute againt the liability which has to be paid off, Asset can be FIxed & current current Asset will be liquid asset which can be easily converted to Liquid Cash. Asset Value defines the Net Worthness of the company, based on this the outside investor invest into. Asset Management is an acccounting techicqe to identify the proper value of the asset.

Conclusion;-

In an orgainistion whose asset worthness is good and valued proper, then we can invest into that organisation or building up asset will increase the value of the organisation, in a properly Finance Managed Organisation there Revenue,Inventory & Asset while be properly Managed and kept Audited by Internal & External Auditor.

Thanks