In today’s digital age, efficient asset management is more crucial than ever. This is where a key component comes into play: Asset Tagging Services. Imagine being able to track, manage, and optimize all your valuable assets with just a few clicks. Sounds too good to be true? Well, it’s not. But here’s the catch: not […]
Asset Tagging Services: A Comprehensive Guide Read More »
Efficient inventory management is a critical aspect of running a successful business. As technology continues to advance, traditional inventory management methods are being replaced by more advanced and automated systems. One such technology that has revolutionized inventory management is Radio Frequency Identification (RFID). Businesses can streamline their operations, enhance inventory accuracy, and gain real-time visibility
Unlocking Real-Time Data Visibility In your Inventory Management with RFID Systems Read More »
Intangible assets drive value and competitive advantage. Accounting for these intangibles requires a comprehensive framework, and that’s where ASC 350 (Intangibles – Goodwill and Other) comes into play. This article explores the key aspects of ASC 350, providing insights into the accounting and financial reporting requirements for intangible assets. What are Intangible Assets? Under ASC
A Guide to Complying with ASC 350 Intangibles – Goodwill and Others Read More »
Accounting Standards Codification (ASC) 360-10, also known as the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 360-10, provides guidance on impairment testing of long-lived assets. These assets, such as property, plant, and equipment, are critical components of a company’s financial health. Adhering to ASC 360-10 ensures that companies accurately assess and report any
A Guide to Complying with ASC 360-10 Impairment Testing of Long-Lived Assets Read More »
Radio Frequency Identification (RFID) tracking tags have emerged as a game-changing technology, revolutionizing the way companies track and manage their equipment inventory. Organizations use the wireless item identification properties and bulk data collection from RFID tracking tags to uncover real-time inventory data and higher asset visibility, improving equipment reutilization levels. What Is a RFID Tracking
Uncovering Higher Asset Visibility and Equipment Reutilization with RFID Tracking Tags Read More »
The Sarbanes-Oxley Act (SOX) of 2002 was enacted to improve corporate governance and financial transparency in the wake of several high-profile accounting scandals. Section 404 of SOX requires publicly traded companies to establish and maintain internal controls over financial reporting. Many organizations underestimate the necessary scope of the documentation, evaluation, and testing efforts, as well
Top 5 Threats to Sarbanes-Oxley Section 404 Compliance Read More »
Intermodal transportation is widely recognized as one of the most environmentally sustainable modes for freight transport. However, despite its superior sustainability, logistics managers have not always been convinced to choose it due to certain inherent drawbacks, including unpredictability, potential product damage, and the risk of theft. Nevertheless, the landscape is evolving, and recent developments suggest
Top 3 Ways Real-Time Inventory Visibility Improves Intermodal Shipping Operations Read More »
Supply chain risks pose significant challenges to organizations worldwide. Disruptions in the flow of materials, information, or finances can wreak havoc on business performance, customer satisfaction, and overall reputation. To safeguard against these threats, it becomes crucial for businesses to proactively identify and prioritize the most critical supply chain risks they face. By doing so,
Inventory cycle counting is a method of frequently conducting physical counts of your inventory on a daily, weekly or monthly basis. This allows businesses to identify and reconcile data discrepancies in inventory records to ensure proper financial reporting processes. In this article, we will explore the importance of mastering inventory cycle counting for effective accounting
Daily cycle counts and reconciliation of inventory variances Read More »
Among the critical components of supply chain management is the effective handling of MRO (Maintenance, Repair, and Operations) inventory. With advancements in RFID technology, MRO inventory management software has emerged as a game-changer, revolutionizing how businesses optimize their supply chain operations. This article explores the significant benefits of adopting MRO inventory management software and its
How MRO Inventory Management software is revolutionizing Supply Chain operations Read More »
With over 25 years of experience, the CPCON Group is the global advisor that enhances and maximizes organizations’ internal control, promoting increased management efficiencies, improved regulatory compliance and financial supervision.
