在制品 （WIP） 流程：管理 WIP 并做出更好的决策.pdf

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1、Work in Progress(WIP)Process:Manage WIP and Make Better DecisionsAdelina Basyrova2AgendaIntroductionSession OverviewUse the Project WIP report to review the projects progress and make accurate GL adjustments based on the GAAP requirements Consider Cost Projection on the Project WIPQ&A|Survey Complet

2、ionSummary and Key Takeaways3Presented byAdelina BasyrovaLead Business Analyst4CPE DisclaimerThis session is NASBA-compliant,and you may get 1 CPE credit if you fulfill the following requirements:Participate in at least one quizProvide your full name and email address when you complete a quizFailure

3、 to provide your full name and email address will result in Acumaticas inability to recognize you in our reports;thus,we will be unable to issue a CPE certificate for you.If you are not interested in getting the CPE credit,specifying your personal details is optional.Learning Objectives6Learning Obj

4、ectivesIn this session,you will learn how to do the following:Identify Over/Under billing for accurate revenue recognitionUse Project WIP reports to assess financial health and improve decision-makingImprove cash flowIdentify red flagsProfit fade reduceProject job costs while project performanceSess

5、ion Overview8Importance of the Project WIPA project job may cover more than one accounting period;Work on jobs in progress across accounting periodsG.A.A.P(Generally Accepted Accounting Principles)Matching PrincipleProject Billings vs Earned RevenueGL Adjustments9GAAP Matching PrincipleThe matching

6、principle refers to the concept that the income shown on the Profit and Loss Statement(Income Statement)is related to the costs actually incurred in the same financial period.If Costs of Goods Sold(COGS)=X%of the expected costs,thenRevenue=X%of the total contract amountGross Profit=X%of the total ex