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Industrial and Manufacturing
Industrial & Manufacturing accounting refers to the analysis, evaluation, control, and calculation of data that is obtained during the manufacturing and production processes. Harbins helps in reducing the variability that can be inherent in the data collected during the manufacturing process. There are two broad categories under which industrial & manufacturing accounting is grouped: Material & Logistic, and Production. All the accounting and finance activities performed in the manufacturing sector involve material and logistic-related activities. Hence, material and logistic accounting, finance, and bookkeeping are also included under the term industrial & manufacturing accounting.
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The two major components of industrial & manufacturing accounting are the material & logistic accounting, and production accounting respectively. In material & logistic accounting, Harbins mainly concerns itself with the collection and interpretation of data that is required for the planning and controlling of production. We analyse this data to help your company to estimate your production capacity, as well as the stocks required for meeting the demands of your customers. Production accounting on the other hand is primarily concerned with assessing the performance of the different productions in terms of quality, quantity, and timing.
Why Harbins Is Your Best Bet?
Both material and logistic-related accounting and finance are necessary in every organization, but a lot of importance is given to it in organizations that operate on a very tight budget. In such cases, material & logistic accounting help in reducing the costs incurred on production, as well as in storing raw materials that are required in production. Harbins is where can find these solutions for your organization, ensuring a smooth and faster way for you to conduct business, while also saving up on huge expenditures.
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Working with Harbins was a dream
My company was going through some financial turbulence. The balance sheets were misrepresented, and the in-house accountants were really confused about how to handle the situation. While physically our business was doing great, the profits weren’t rightly reflected on the sheets.
We were desperately looking for someone to take over and sort the problems for us. Luck was on our side when we got to discover Harbins. The people there are really talented. Plus, they are nice!
Harbins showed me the new growth direction
My business operated under the entertainment sector, and we were soon draining out of new avenues to discover. Things were stagnating, and we’d hit the wall soon if we didn’t discover Harbins.
We opted for consultation services from Harbins and got to know of the right growth areas once they worked up their magic on our business. Not only that, we then got to know that our accounts weren’t rightly organized as well. They helped us in that domain as well.
Harbins got my accounts right
Harbins got our balance sheets pretty sorted. We also got to know of a few accounting errors that we were making. Thanks to Harbins, our reports are sorted with no questionable elements in there.
We then even got to know of the room for growth for our business. Once the profits were rightly stated on our sheets, we discovered that we have more budget to invest in expansion strategies. With the right fuel to fire our growth, we almost doubled our profits last quarter.