One of the first questions I ask our Warehouse Management students is, “Do you know your operating costs?”, and our Production Planning Management students, “Do you know the cost to produce one of your items?” After five years of training, I can count on one hand how many students were able to answer these questions,…

Direct transfer designations, like POD’s (payable on death designations) and TOD’s (transfer on death designations), and simple beneficiary designations, are mechanisms by which an account or other asset is transferred or paid upon the death of the account holder or asset owner to a beneficiary. They are often recommended by the administrator of the account,…

If you are maintaining a checking account with a bank, I guess you are familiar with bank reconciliation. You always receive a bank statement with attachments, didn’t you? All checks you issued and paid by the bank are attached with stamped canceled. You will also find attached thereto, debit and credit memos that have affected…