Since Chrome River is a financial software application at its core, it pays for us to stay on top of the latest developments in the accounting world. One entertaining blog that I can recommend is Grumpy Old Accountants. Recently they had an interesting post on the definition of Net Income and how it is changing. Since all of us are affected by accounting events that are somewhat out of our control (e.g., exchange-rate movements), this article makes some interesting points on how accounting standards allow you to present profits with and without these factors included.
And since you are probably charged with developing and implementing expense report policies that help your employees with Net Income, please read point #2 in our whitepaper, The 10 Essential Expense Management Best Practices.
Comments