Raghavachari Nambi

Malaiyappan Street Near Mylapore Tank, Chennai, India - 600028

Raghavachari Nambi photo

Raghavachari Nambi

Malaiyappan Street Near Mylapore Tank, Chennai, India- 600028.

3.0
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Overview

Teaching Accountancy, Taxation, Finance ,International Taxation, Auditing to CA/ICWA/ICS /MBA students for more than 3 decades

Languages Spoken

English

Tamil

Education

Presidency College Madras 1970

Bachelor of Science (B.Sc.)

ICAI New Delhi 1974

Master of Business Administration (M.B.A.)

Mysore University 1976

Bachelor of Laws (L.L.B.)

Address

Malaiyappan Street Near Mylapore Tank, Chennai, India - 600028

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Personal Financial Planning Classes Overview

Personal Financial Planning Classes

Class Location

Student's Home

Tutor's Home

Online (video chat via skype, google hangout etc)

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Answers by Raghavachari Nambi (1)

Answered on 03/01/2015 Functional Training/Finance Training

The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll. The accounts payable process might be carried out by an accounts payable department in a large corporation, by a small staff in a medium-sized company, or by a bookkeeper... ...more
The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll. The accounts payable process might be carried out by an accounts payable department in a large corporation, by a small staff in a medium-sized company, or by a bookkeeper or perhaps the owner in a small business. Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate. This means that before a vendor's invoice is entered into the accounting records and scheduled for payment, the invoice must reflect: what the company had ordered what the company has received the proper unit costs, calculations, totals, terms, etc. To safeguard a company's cash and other assets, the accounts payable process should have internal controls. A few reasons for internal controls are to: prevent paying a fraudulent invoice prevent paying an inaccurate invoice prevent paying a vendor invoice twice be certain that all vendor invoices are accounted for Periodically companies should seek professional assistance to improve its internal controls. The accounts payable process must also be efficient and accurate in order for the company's financial statements to be accurate and complete. Because of double-entry accounting an omission of a vendor invoice will actually cause two accounts to report incorrect amounts. For example, if a repair expense is not recorded in a timely manner: the liability will be omitted from the balance sheet, and the repair expense will be omitted from the income statement. If the vendor invoice for a repair is recorded twice, there will be two problems as well: the liabilities will be overstated, and repairs expense will be overstated. In other words, without the accounts payable process being up-to-date and well run, the company's management and other users of the financial statements will be receiving inaccurate feedback on the company's performance and financial position. A poorly run accounts payable process can also mean missing a discount for paying some bills early. If vendor invoices are not paid when they become due, supplier relationships could be strained. This may lead to some vendors demanding cash on delivery. If that were to occur it could have extreme consequences for a cash-strapped company. Just as delays in paying bills can cause problems, so could paying bills too soon. If vendor invoices are paid earlier than necessary, there may not be cash available to pay some other bills by their due dates.
Answers 17 Comments
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Raghavachari NambiDirections

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Personal Financial Planning Classes 3.0

Class Location

Student's Home

Tutor's Home

Online (video chat via skype, google hangout etc)

Finance Training classes 3.0

Class Location

Student's Home

Tutor's Home

Online (video chat via skype, google hangout etc)

Security Auditing Training 3.0

Class Location

Student's Home

Tutor's Home

Online (video chat via skype, google hangout etc)

BBA Tuition 3.0

Class Location

Student's Home

Tutor's Home

Online (video chat via skype, google hangout etc)

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Answers by Raghavachari Nambi (1)

Answered on 03/01/2015 Functional Training/Finance Training

The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll. The accounts payable process might be carried out by an accounts payable department in a large corporation, by a small staff in a medium-sized company, or by a bookkeeper... ...more
The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll. The accounts payable process might be carried out by an accounts payable department in a large corporation, by a small staff in a medium-sized company, or by a bookkeeper or perhaps the owner in a small business. Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate. This means that before a vendor's invoice is entered into the accounting records and scheduled for payment, the invoice must reflect: what the company had ordered what the company has received the proper unit costs, calculations, totals, terms, etc. To safeguard a company's cash and other assets, the accounts payable process should have internal controls. A few reasons for internal controls are to: prevent paying a fraudulent invoice prevent paying an inaccurate invoice prevent paying a vendor invoice twice be certain that all vendor invoices are accounted for Periodically companies should seek professional assistance to improve its internal controls. The accounts payable process must also be efficient and accurate in order for the company's financial statements to be accurate and complete. Because of double-entry accounting an omission of a vendor invoice will actually cause two accounts to report incorrect amounts. For example, if a repair expense is not recorded in a timely manner: the liability will be omitted from the balance sheet, and the repair expense will be omitted from the income statement. If the vendor invoice for a repair is recorded twice, there will be two problems as well: the liabilities will be overstated, and repairs expense will be overstated. In other words, without the accounts payable process being up-to-date and well run, the company's management and other users of the financial statements will be receiving inaccurate feedback on the company's performance and financial position. A poorly run accounts payable process can also mean missing a discount for paying some bills early. If vendor invoices are not paid when they become due, supplier relationships could be strained. This may lead to some vendors demanding cash on delivery. If that were to occur it could have extreme consequences for a cash-strapped company. Just as delays in paying bills can cause problems, so could paying bills too soon. If vendor invoices are paid earlier than necessary, there may not be cash available to pay some other bills by their due dates.
Answers 17 Comments
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Raghavachari Nambi conducts classes in BBA Tuition, Finance Training and Personal Financial Planning. Raghavachari is located in Malaiyappan Street Near Mylapore Tank, Chennai. Raghavachari takes Regular Classes- at his Home and Online Classes- via online medium. He has 20 years of teaching experience . Raghavachari has completed Bachelor of Science (B.Sc.) from Presidency College Madras in 1970, Master of Business Administration (M.B.A.) from ICAI New Delhi in 1974 and Bachelor of Laws (L.L.B.) from Mysore University in 1976. HeĀ is well versed in English and Tamil.

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