Tighten Accounting Controls

Financial internal controls often fail at the handoffs between accounting cycles. Sales books the order, operations fulfills it, finance reports it, and someone must verify the numbers along the way. A practical control framework therefore has to cover the ten core accounting cycles that make up the accounting body of knowledge. Each financial cycle focuses […]

Do you understand how accounting policies and procedures connect accounting rules, software workflows, source documents, and internal controls into one accounting management system?

By adopting policies and procedures, organizations can reduce process variability, improve control, and decide whether a process is ballistic, controlled, or adaptive.

Accounting systems group transactions into revenue, purchase, payroll, and general journal cycles, then post those entries to ledgers and the general ledger for reporting and control.

Sarbanes-Oxley (SOX) requires an internal control system. Yet recent financial crises show the needed internal controls are not effectively implemented in many companies.

A Certified Public Accountant (CPA) is a professional who provides financial advice and services to individuals, businesses, and other organizations. Learn more about the duties and responsibilities of a CPA and how they can help you manage your finances.

10 tips for creating an effective operating budget: understand the purpose, prioritize revenue sources, assess costs, set realistic goals, implement budgeting techniques, allocate resources efficiently, monitor performance, adjust as needed, involve stakeholders.

Gross sales and net sales are two important terms used in accounting. Learn the difference between gross sales and net sales, including how each is calculated and the implications for businesses.

Learn about the importance of Form 8379 in filing taxes. Understand how it helps protect your share of the refund and navigate complex filing situations.