Suggested Certification for Commercialization

Certified Pricing Professional (CPP), Certified public accountant (CPA), Chartered global management accountant (CGMA), certified management accountant (CMA)
Recommended Book 1 for Commercialization

Recommended Book 1 for Commercialization

★★★★☆
Check Amazon for current price
View Deal
On Amazon
Recommended Book 2 for Commercialization

Recommended Book 2 for Commercialization

★★★★☆
Check Amazon for current price
View Deal
On Amazon
Recommended Book 3 for Commercialization

Recommended Book 3 for Commercialization

★★★★☆
Check Amazon for current price
View Deal
On Amazon
Recommended Book 4 for Commercialization

Recommended Book 4 for Commercialization

★★★★☆
Check Amazon for current price
View Deal
On Amazon
Recommended Book 5 for Commercialization

Recommended Book 5 for Commercialization

★★★★☆
Check Amazon for current price
View Deal
On Amazon

Note: *Check out these useful books! As an Amazon Associate I earn from qualifying purchases.

Interview Questions and Answers

Strategies include: educating consumers, offering incentives, demonstrating the value proposition, and building trust.

Sustainability can be integrated by considering the environmental and social impacts of the product or service throughout its lifecycle, from design and manufacturing to distribution and disposal.

Types include: exclusive licenses, non-exclusive licenses, and cross-licensing agreements.

Universities play a significant role in generating new knowledge and technologies that can be commercialized. They also provide resources and support for startups and entrepreneurs.

It involves assembling a team with diverse skills and expertise in areas such as research, development, marketing, sales, finance, and operations.

Metrics include: revenue growth, market share, profitability, customer satisfaction, and return on investment.

Open innovation allows companies to leverage external ideas and technologies to accelerate the commercialization process and improve innovation outcomes.

Marketing plays a crucial role in creating awareness, generating demand, and building a brand for the new product or service.

An MVP is a version of a new product with just enough features to satisfy early customers and provide feedback for future product development.

It involves identifying the relevant regulatory requirements, preparing the necessary documentation, and working with regulatory agencies to obtain approvals in a timely manner.

Technology transfer is the process of moving technology from research institutions to the private sector for commercialization.

Top Accounting Skills for Success.

  • Analytical Skills.
  • Organization.
  • Industry Knowledge.
  • Adaptability.
  • Critical Thinking.
  • Interpersonal Communication.
  • Time Management.
  • Spreadsheet Expertise.

Four main types of financial transactions occur in a business. They are sales, purchases, receipts, and payments. The receipt transaction is recorded in the journal for the seller as a debit to cash and a credit to accounts receivable.

When you identify the hardest challenge you will be asked by interviewers to comment on it with the problem solution.

Throughout accounting, double-entry bookkeeping is a bookkeeping method where each entry to an account includes a similar and opposite entry to another account. The double-entry has two equal sides known as debit and credit. The left is debit, and the right is credit.

Explain the improvement with the problem you faced, Some accounting packages are Tally, Quickbooks, Dolibarr, TurboCASH, Open Systems Accounting Software, etc.

There are many methods of keeping the records correct. These include identifying revenue streams, monitoring invoices and receipts, preparing financial statements, tracking deductible expenses and preparing tax returns. Some real-time checking include -

  • Numbers have to add up as required, Perhaps this is better achieved by printing out a report and recalculating amounts on paper, as errors in transposition are easily overlooked on screen.
  • Re-check where all numbers came from.
  • Be very vigilant when correcting mistakes, as it can be hard to locate and repair incorrect corrections.
  • Be in a good state of mind when checking.

Some tips to reduce costs: Reduce spending on department management, Control of miscellaneous spending, Rethink on pay increases, Repropose rejected cost-saving ideas, Eliminating liaisons and coordinators, Reducing excessive service levels, Change the processes etc.

In trial balance, every account is divided into debit (dr.) and credit (cr.) balances whilst in the balance sheet, every account is divided into assets, liabilities and stockholders equity. Trial balance is a statement that is created with the purpose of recording balances from all the ledger accounts. A balance sheet is created to check whether firm assets are equal to the equity and liabilities.

Yes I am familiar with accounting standards. Accounting standards aim to ensure that the financial centers of the world, can use a global financial reporting framework that ensures effective regulation of financial markets. Accounting standards are required to ensure that the financial statements reflect financial results accurately and consistently. Without guidelines, financial statements users would need to know each company's accounting rules and it would be difficult to compare the companies.

There are two methods for estimating the amount of accounts receivables not expected to be collected. Bad debt expense can be estimated using mathematical models such as the likelihood of default to assess the potential losses to delinquent and bad debt. The statistical analyses can use historical data from both the company and the industry as a whole. Usually, the actual percentage will increase as the age of the receivable increases, indicating an increasing default risk and decreased collectability.

Instead, taking a percentage of net revenue, depending on the company's past experience with bad debt, will measure a bad debt cost. Organizations make periodic adjustments to the credit risk allowance entry so that they suit the existing mathematical modeling allowances.

The basic accounting equation, also called the balance sheet equation, describes the relationship between the assets, liabilities, and owner equity of a person or business. It is the basis for the double-entry bookkeeping system. For each transaction, the total debit's equal the total credit's.

Fair value as the price earned for selling an asset or paying for the transfer of a liability in an orderly transaction between market participants on a given date, usually for use over time on financial statements.