Accounting Policies Articles
Below you will find all articles and posts tagged with Accounting Policies. These articles are either primarily about Accounting Policies or about topics that are directly related to Accounting Policies.
Small public companies like yours may finally have to begin providing the Securities and Exchange Commission (SEC) with certified assessments of their internal controls. Smaller micro caps will be required to comply with SOX 404(b) reporting requirements beginning June 15, 2010; they’ll have to attest to the effectiveness of their internal controls in their annual reports released on or after June 15 of next year. So, for those whose annual reports are just seven months away, the time to consider is over — it’s time to take action!
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Author: Chris Anderson Published on: November 6th, 2009
Categories: Accounting & Internal Control, Sarbanes Oxley - SOX, Sarbanes Oxley Compliance
Question of the month: How can Accounting Policies and Procedures help your organization?
The Accounting Department is an area where policies and procedures are usually a requirement, because they are considered part of the internal controls noted in Sarbanes-Oxley. The real question is: What approach are you taking to developing accounting policies and procedures?
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Author: Editor Published on: December 29th, 2008
Categories: Accounting Policies, Monthly Summary
Everywhere in your organization people are carrying out business processes to make things happen. It doesn’t matter if the processes are well defined, poorly documented or if the staff is trained. If things are getting done – it is because people are executing business processes.
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Author: Editor Published on: December 22nd, 2008
Categories: Accounting Procedures Manuals, Business Process Improvement, Writing Policies and Procedures
What is the difference between a well-conceived and well-written accounting policy and a poorly conceived and poorly written accounting policy? Of course, the needs of every organization are different, and the most important element of an accounting policy is that it helps the organization. Last week we mentioned the importance of gathering accounting policies into the accounting manual. Now let’s review some important points to consider when crafting policies.
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Author: Editor Published on: December 15th, 2008
Categories: Accounting Policies, Accounting Procedures Manuals, Internal Control
The question “What should be in your accounting manual?” should first be answered by another question: “Why do you need an accounting manual?” Whether you are looking to purchase a pre-written accounting manual or create your own accounting manual from scratch, these are two important questions to answer.
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Author: Editor Published on: December 8th, 2008
Categories: Accounting Procedures Manuals
Question of the month: Do you understand the meaning of the term “internal controls?”
The internal controls requirement in Sarbanes-Oxley Section 404 has created the most uncertainty and distress in businesses. Frequently those of us involved in office processes are not accustomed to having our work planned and verified to the degree that is common on most factory floors.
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Author: Editor Published on: November 24th, 2008
Categories: Monthly Summary, Sarbanes Oxley Compliance
When you hear the phrase “internal control system required by Sarbanes-Oxley (SOX) Section 404,” do you automatically think of policies and procedures? Simply having accounting policies and procedures does not indicate an internal control system. Well-written accounting procedures that document well-defined accounting processes, however, are an important component of the internal control system you are building.
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Author: Editor Published on: November 17th, 2008
Categories: Accounting & Internal Control, Accounting Procedures Manuals, Writing Policies and Procedures
It has been more than five years since most provisions of the Sarbanes-Oxley Act of 2002 took effect (in mid- 2003). Many publicly traded companies, however, still seem to struggle with developing a confident understanding of compliance.
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Author: Editor Published on: November 3rd, 2008
Categories: Accounting Procedures Manuals, Internal Control, Sarbanes Oxley - SOX, Sarbanes Oxley Compliance
We are experiencing an avalanche in our financial system. Major financial institutions are failing to the shock of investors and depositors, and there is such a high level of uncertainty in the financial system that availability of credit has been shut off even to the most highly rated borrowers.
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Author: Editor Published on: October 13th, 2008
Categories: Accounting & Internal Control, Financial Policies, Sarbanes Oxley - SOX, Sarbanes Oxley Compliance
Question of the Month: How do policies and procedures fulfill requirements of Sarbanes-Oxley and other financial regulations?
This month’s highlight 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, to date, has been tremendous.
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Author: Editor Published on: March 31st, 2008
Categories: Accounting Procedures Manuals, Financial Policies, Monthly Summary, Sarbanes Oxley - SOX
