Shahul Hamid Ahmad, the owner of Tefcas Marine, a small shipping agency that was hit with U.S. sanctions, standing in his empty office in Johor Bahru, Malaysia, in September.
A standard business practice offsets future costs by funding a reserve for returns – but many small businesses don’t do itIn my 30-plus years of being an accountant I have learned many business lessons from people who were much smarter than me. Jerry Crawford was one of those people. Jerry taught me about product returns.Jerry – who sadly passed away a decade ago – sold carpets wholesale from a nondescript little building in south Jersey. He employed about 50 people and counted many local and na
A standard business practice offsets future costs by funding a reserve for returns – but many small businesses don’t do it
In my 30-plus years of being an accountant I have learned many business lessons from people who were much smarter than me. Jerry Crawford was one of those people. Jerry taught me about product returns.
Jerry – who sadly passed away a decade ago – sold carpets wholesale from a nondescript little building in south Jersey. He employed about 50 people and counted many local and national carpet retailers as his customers. When I reviewed Jerry’s books, I noticed a large reserve for “returns”.
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