Excessive costs
*Excessive costs reduce profit. Every expenditure made by organization is potentially excessive.
Deficient revenue
*Deficient revenue reduce profit. Bad debt expenses on credit sales may be excessive.
Loss of assets
*Assets may lost due to theft, acts of violence, or natural disaster. Organization has custody of large quantity of assets, all which are subject lost.
Inaccurate accounting
*Accounting policies & procedure may be error prone or inappropriate, or significantly different from those that are considered to be generally acceptable.
Business interruption
*Business interruption may consist of a temporary suspension of operations or ultimately the termination of operation & end of organization.
Statutory sanctions
*Any penalties may arise from judicial or regulatory authorities who have jurisdiction over the organization.
Competitive disadvantage
*Competitive disadvantage is the inability of organization to remain viable in the marketplace.
Fraud & Embezzlement
*fraud is intentional pervension of truth in order to induce another to part with some value or to surrender a legal right.
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