Upon successful completion of this course, participants will be able to: State the purpose of responsibility reporting. List an item that is not important for properly managing margin reports. Cite a limitation of variance analysis. Name a common line item in a flash report. Define the variance where volume variance relates to the use of direct labor. Calculate selling price variance. Specify a possible cause of an unfavorable sales volume variance. Cite the importance of the value date. Define a lockbox network. Identify the kind of information required by automatic cash application. Define the mechanism that keeps cash application from delaying daily bank deposits. List an advantage of a bank lockbox and an alternative to using it. Specify a characteristic of remote deposit capture. Name something not accomplished through an online payment app. List an advantage of converting a receivable into a promissory note. Specify the purpose of the COD roll. Name a way to reduce the cost of using attorney letters. Define the grace period in collections. Identify what A-B testing helps to design. Cite a characteristic of a postdated check. Specify when the promissory note approach and filing in small claims court are best used in collections. Define a payroll cycle. Identify when employees are paid in a biweekly payroll system and in a semimonthly payroll system and a key difference between the two systems. Name a timekeeping solution for an hourly employee who nearly always works 40 hours a week. Choose an action that will not help protect the confidentiality of payroll information.

The Duration of a Report Responsibility Reporting The Flash Report Expense Reporting Margin Reporting Variance Reporting The Purchase Price Variance Material Yield Variance Labor Rate Variance Variable Overhead Spending Variance