Cash Management is a critical part of small and medium-sized businesses that rely on a steady, consistent stream of incoming cash — customers paying for goods and services with cash, checks, and credit cards. Continue reading What Are Cash Cycle Procedures?
The proper identification and acceptance of all sales are an important element of internal control for a company’s income statement. It represents the primary source of most companies operational cash flow and therefore needs to be protected, managed and monitored using financial internal controls. The following Accounting Revenue Cycle Procedures should be utilized to account for and recognize all sales income of the company. Continue reading What Is the Revenue Cycle?
The company’s Accounting Department Organization Chart provides the foundation for coordinating and administrating your accounting management system. A description of the roles and responsibilities applicable to the accounting and operations staff are provided. Responsibilities specific to certain procedures or tasks are presented in the related procedures. Continue reading What Is an Accounting Department Organization Chart?