In this series our topic is how to write procedures: what advice do we have to give about writing procedures? Most importantly - employ the writing process. The writing process considers activities that successful writers engage in while producing a piece of writing, and it applies whether one is writing an essay, a business letter, or a procedure. These writing activities are typically divided into three steps or phases – Planning, Drafting, and Revising. Having covered Planning and Drafting, let’s turn our attention to Revising. »» Read more… »

In the most recent article we began discussing the topic of using a process approach for writing procedures. It is useful to think of any writing project as a three step process consisting of Plan-Draft-Revise. Last week we covered planning activities associated with writing effective procedures, so this week let’s discuss Drafting. »» Read more… »

Recently we published a series of articles covering why you need policies and procedures, and it included how to decide when you need to create procedures. Now that you understand why you need procedures, let’s talk about how to write procedures. »» Read more… »

Question of the month: How do policies and procedures fulfill requirements of Sarbanes-Oxley and other financial regulations?

The highlight this month was the release of the Finance Policies, Procedures & Forms manual. Our newest product is the result of a nearly year long effort of intensive research, writing, editing and reviewing. The Finance Manual was finally ready for production and shipping last week. We are very pleased with this new product, and the response from our customers has been tremendous. »» Read more… »

Strengthen compliance, enhance performance, or speed the development of your financial procedures.

Are you still trying to build an internal control system to help you comply with Sarbanes-Oxley (SOX) and other financial regulations? The newest addition to the Bizmanualz Policies, Procedures & Forms product line - the Finance Policies, Procedures & Forms Manual - can provide a big boost in meeting regulatory requirements. »» Read more… »

You may be familiar with the COSO (Committee of Sponsoring Organizations of the Treadway Commission) framework for internal control. We have discussed it in past articles, and it has received significant attention when referenced by the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) as an example of an “internal control” system as required by Sarbanes-Oxley Act (SOX) sections 302 and 404. »» Read more… »

In recent articles we have discussed several aspects of business finance.  Topics so far have included internal controls, capital planning, and managing working capital. While almost every business pays attention to financial performance, studies show that small and medium sized businesses in particular frequently do not engage in thorough financial planning - if at all.  »» Read more… »

Question of the month: Is using a process approach useful in improving the financial performance of a company?

The articles in February revolved around financial issues such as financial controls, working capital, return on investment and cash flows.

Discussions of improving processes are too commonly relegated to the production floor. Is it any less important for your office processes to function effectively and efficiently? »» Read more… »

In the past few weeks we have been covering important elements of finance processes, including internal control systems as prescribed by Sarbanes-Oxley, and the importance of capital planning to ensure key high level financial facets such cost of capital and return on assets have established goals and are being measured. »» Read more… »

Last week we explained how profit is used to drive growth, which is one aspect to your cash needs. But what are you going to do with the excess cash from your business? Your options include purchase assets, spend it on various expenses, hold it in an investment account, pay down debt, or give it back to the shareholders. »» Read more… »