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CFO Techniques: A Hands-On Guide to Keeping Your Business Solvent and Successful by Marina Guzik

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Controlling Commerce

Regardless of the industry, business sector, organizational mission, or economic purpose, there is a point in every entity’s operational cycle when it enters the realm of commerce. Traditional manufacturers, developers of various virtual products, technology companies, service providers, trading companies, and even nonprofit organizations, at a certain point along their value chains, engage in selling their output.

This is the stage in which revenue is created. Accounting logically follows the common sense, demanding the conversion of products into incomes and outlays into costs to be recognized only when the ownership rights ...

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