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Term Of The Day: 3PL (Third-Party Logistics)
Third-party logistics, typically referred to by the acronym 3PL, is the process a company uses to outsource logistics services, including warehousing, inventory management, distribution, and shipping products to customers, distributors, or retailers. 3PL companies help businesses to automate all the functions related to the logistics of supply chain management. With the growth of e-commerce, the relevance of outsourcing logistics services to third-party companies has increased. WHO USES 3PL? Businesses of all sizes depend on third-party logistics for moving products from the manufacturing facility to the point of sale. The e-commerce sector relies on 3PL companies to provide worldwide warehousing, inventory control, shipping, and product return services. According to a study conducted by Research and Markets, the estimated value of the global market has reached $ 1 trillion and is expected to reach $1.75 trillion by 2026. The global 3PL market is also expecting potential growth in the near future with the development of technologies like Artificial Intelligence (AI), and the Internet of Things (IoT). HOW DOES 3PL WORK? 3PL companies provide solutions for businesses’ most tedious and time-consuming workloads. Here’s how 3PL companies work: Warehousing: The primary function of a 3PL service provider is to offer safe storage space to keep products from the time they leave the manufacturing facility until the distribution to their point of sale happens. Transportation: Third-party logistics companies facilitate transportation of goods from the factory to the point of sale. They coordinate transnational and transocean freight by air, rail, and road, as well as transporting products from national points of entry to distribution warehouses and then on to sellers or buyers. Distribution: Distribution logistics entails the storing and shipping of the products from decentralized or regional distribution points to retailer/wholesale bricks & mortar locations. Some of the significant functions of distribution logistics include product kitting, order picking, parcel and freight shipping, and more. Reverse logistics: Most 3PL service providers offer reverse logistics that help businesses to make the return services more simple as third-party logistics companies take care of the process of return, and restock the products, and refund the customers.









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A: The qualifications to get a job as an accountant with no experience include education, analytical and mathematical skills, and good interpersonal communication abilities. In terms of education, you need a bachelor's degree in accounting, finance, economics, or statistics.

A: Any job related to accounting and bookkeeping tasks such as preparing financial statements, cash collections and recording, disbursement, purchasing, and internal audit qualify as experience.

A: Gaining the necessary experience involves the use of consulting, tax, financial advisory, management advisory, compilation, attest or accounting skills. Be gained through employment in government, private industry or public industry. Employment in academia does not fulfill the requirement.

Generally, an accountant or owner oversees a bookkeeper's work. A bookkeeper is not an accountant, nor should they be considered an accountant. Bookkeepers record financial transactions, post debits and credits, create invoices, manage payroll, and maintain and balance the books.

A: Good organizational abilities. Excellent numerical and analytical skills. Knowledge of accounting and financial reporting competencies. Proficiency in MS Office and competency in computer software is great experience to have as well.

A: Having the ability to manage multiple projects, timelines, business needs, reporting deadlines, filing deadlines and personalities - that's a hard skill to master.

A: Certified Management Accountants must have two years of experience in management accounting and pass an examination offered by the Institute of Management Accountants.

A: Revenue Recognition Principle
Cost Principle.
Matching Principle
Full Disclosure Principle
Objectivity Principle


A: Many accountants are leaving the profession due to dissatisfaction with pay and benefits. A recent survey found that nearly one-third of respondents said they were not satisfied with their current salary, and nearly half said they were not satisfied with their benefits.

A: The overall CPA Exam pass rates hover slightly below 50%. This makes passing the CPA Exam a difficult, but achievable, goal. You'll need to study wisely, set a strategy for managing your time, and call on your support network, but with the right plan and good study materials, you will conquer it.

A: Junior accountant.

An entry-level accounting position, usually reporting to any of the higher level accounting positions, or in smaller companies, to the controller. They may or may not have a bachelor's degree, and their main responsibilities will usually include reconciling accounts and preparing preliminary reports.








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Scripting (Bash, PowerShell) Python Cybersecurity Controls and frameworks
Intrusion detection Security information and event management Network security control
Operating systems Incident response digital forensics and malware analysis
cloud security development and operations (DevOps) Threat knowledge
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Health Insurance Portability and Accountability Act (HIPPA) cybersecurity workplace skills cybersecurity analyst
communicate technical concepts Collaboration Risk management
Build foundational knowledge risk management Adaptability
Critical thinking SQL (Structured Query Language) create, manipulate, and query databases
SQL and relational database skills database management professional Enterprise Data Warehouse Management
CRM/Automation System Unix Shell Scripting Project Management
ETL (Extract, Transform, Load) Data movement and manipulation Data Modelling
Backup and Recovery Development Tools integrated development environments (IDEs)
Web Technologies Data Security Capacity Planning
ERP (Enterprise Resource Planning) Frameworks Knowledge Network Administration
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Computer Science Communication Skills Virtualization
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VMware DHCP Help Desk Support
Linux Documentation Aerospace Engineering
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Construction Management Science & Technology Management Sports Management
Accounting Hotel Management Human Resource Management
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Management Information Systems Marketing Social Work
Statistics Surveying Urban Planning
Veterinary Science Supply Chain Management Inventory Management
Warehouse Operations Transportation Procurement
Distribution Freight Forwarding ERP Systems
Customs Compliance Demand Planning Problem Solving
Teamwork Leadership Organizational
Communication Adaptability Time Management
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Supervision skills Robotics skills Office skills
Microsoft office skills Hospitality skills Automation skills
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Public Speaking skills Senior Scrum Master Sales Director
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Javascript Git SQL
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Matlab Jira Linux
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Data modeling & engineering Big data analysis AI and ML services
AI Deployment & DevOps AI security Adaptability and continuous learning
Critical thinking and problem-solving Neural network architectures Visual Storytelling with Data
Distributed computing dynamics Content Writing AI Prompting
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Performance monitoring Staff management Customer trend analysis
Linux Fedora Core 9 Organization Multitasking
Strategic planning Goal setting Strategy development
Operations management Project management Process optimization
Financial administration Data analysis and reporting Quality control
Marketing and sales Resource planning Performance monitoring
Staff management Relationship building Trend analysis
Information systems and database knowledge MS Office Suite Zoho One
QuickBooks Trello Leadership
Organization Multitasking Problem-solving
Verbal and written communication Time management Task prioritization
AutoCAD SolidWorks CATIA
Revit ANSYS 3D Modeling
Blueprint Reading SketchUp MathCAD
Drafting Photoshop skills Cloud skills
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Persuasion skills Data analysis and visualization skills Development and programming skills
Project and process management skills Design and multimedia skills Digital marketing and content management skills
Cloud and IT infrastructure skills Emerging technology skills Digital marketing tools (e.g., Google Analytics, SEO)
Social media management platforms (e.g., Hootsuite, Buffer) Content management systems (e.g., WordPress, Drupal) Graphic design software (e.g., Adobe Photoshop, Canva)
Email marketing platforms (e.g., Mailchimp, Constant Contact) Spreadsheet software (e.g., Microsoft Excel, Google Sheets) Financial analysis and modeling tools (e.g. Quantrix, Scenario)
Accounting software (e.g., QuickBooks, SAP) Data visualization tools (e.g., Tableau, Power BI) Risk management software( e.g. Vanta)
Electronic Medical Record (EMR) systems Medical billing and coding software Health information systems
Telemedicine platforms Medical imaging software (e.g., PACS) Data analysis and research tools in healthcare
Learning management systems (e.g., Moodle, Blackboard) Educational software and tools (e.g. OneNote, PDF Element) Online collaboration platforms (e.g., Google Classroom)
Multimedia authoring tools (e.g. Hypertext, Lectora) Educational assessment tools (e.g. Mentimeter, Nearpod) Video editing software (Final Cut Pro, Adobe Premiere Pro)
3D modeling and animation software (Maya, Blender) Digital photography and photo editing software Social media management tools
Content management systems (WordPress, Drupal) Video production and editing software Social media platforms and analytics tools
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Project management tools (Trello, Asana) Communication and collaboration tools (Zoom, Dropbox) Data analysis tools (HubSpot, Google Analytics)
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Communication and collaboration tools (PlanRadar, Smartsheet) Project management software (Construct, ProCore) Financial analysis software (e.g., Bloomberg Terminal, FactSet)
Risk management tools (e.g., Riskalyze, RiskMetrics, and MSCI RiskManager) Banking software and platforms (e.g., Temenos, Finastra, and FIS) Data analysis and reporting tools (e.g., Tableau, Power BI, QlikView)
Financial modeling and analysis (e.g., Microsoft Excel) Proficiency in spreadsheet software (e.g., Microsoft Excel or Google Sheets) Knowledge of procurement software: (e.g., SAP Ariba, Coupa, or Oracle Procurement)
e-procurement systems Data analysis and reporting: (e.g., Tableau) or statistical analysis software (e.g., SPSS) Communication and collaboration tools: (e.g., Google Meet, Microsoft Teams)
Microsoft Office Suite (Word, Excel, PowerPoint, Outlook) Database management systems Document management software
Calendar and scheduling tools Virtual meeting and communication platforms Architectural design software (e.g. AutoCAD, SketchUp, Revit)
Building information modeling (BIM) software Rendering and visualization software (e.g. Vectorworks, Adobe Substance 3D) Project management tools (e.g. Archicad, Wrike)
Energy analysis and sustainability software (e.g.Diligent ESG, Novisto) Human resources Human resources information systems
Microsoft Office Suite (e.g. Word, Excel, PowerPoint, and Outlook) Applicant tracking systems (ATS) Data analysis and reporting (e.g. BI, Python)
Collaboration tools (RingCentral, Basecamp) Manufacturing software (e.g. Fishbowl, Prodsmart) Data analysis and reporting (e.g. Factbird, Segment)
Inventory management (e.g. Katana, Cova) Quality control software (e.g.Greenlight Guru, KAWAK) Troubleshooting and maintenance
System installation and maintenance Network administration Security management
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Windows 8.1 Windows 10 Windows 11
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Google's Android OS Microsoft Windows Apple iOS
Linux Operating System Agile and Scrum methodologies Machine learning and AI algorithms
API design and development IT compliance and governance UX/UI design principles
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Software testing and debugging System architecture design Performance optimization
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Exchange Server VMWare RemedyARS
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HP OpenView CiscoWorks 2000 Sniffer Pro
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Visio 2000 Photoshop CSS
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