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Cost Avoidance vs Cost Savings: What Is the Difference?

Cost avoidance has to do with any action that avoids having to incur costs in the future. In a business setting, the cost avoidance is a measure that lowers potential increased expenses as a way of decreasing a company’s future costs.

 

WHAT IS COST...

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How You Can Pay Less for the Same Service

We’re always thinking about the customer and looking for ways to serve them better, however, you can get to a point where you don’t even know where...

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What is a General Ledger Account?

A general ledger account is the backbone of the recordkeeping of business, forming the basis of a firm’s financial statements. It is used to sort,...

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What Is The Purpose Of Auditing

The word “audit” is typically associated with the Internal Revenue Service (IRS). The IRS generally opens an audit on a taxpayer when their taxes...

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Collaboration Between Parcel Carriers Can Spell Savings for Your Business

To remain competitive, firms are collaborating with their once rivals as never before — providing processing, transportation, or delivery for one...

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Biweekly vs. Semi-Monthly Payroll: What's the Difference?

Generally, employers will usually pay their employees on a biweekly or semi-monthly basis. So, what is the difference between a biweekly payment and...

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Choosing an Electricity or Natural Gas Supplier in New York State 

ESCOs are competing for your business. As a result, there may be a wide variety of products and price options available to customers shopping for...

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Who Is Responsible For a Lost Package: Buyer or Seller?

The issue of lost mail can lead to trouble. Chronically lost packages can be bad for your business, and disappointed customers are likely to share...

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10 Cost Reduction Strategies to Try in 2019

As a business owner, reducing costs while maximizing revenue in your business is always in front of the mind. Your ability to do this and the...

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What Are Tariffs and How Do They Affect Your Business?

A tariff is a charge levied on imported goods. Customs authorities impose tariffs on goods arriving at a nation's borders. Countries can sign free...

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