Tag Archives: accounting

What Is an Accounting Department Organization Chart?

The company’s Accounting Department Organization Chart provides the foundation for coordinating and administering 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. What Is an accounting department organization chart? Continue reading What Is an Accounting Department Organization Chart?

How do you Grow Your Accounting Business?

The big question you must ask yourself as an accounting and bookkeeping business owner is why anyone will engage in your services when there are so many options out there? Well, they should opt for you because you offer excellent service and a great price. That’s perfect! But how do they even know that your services exist if your business isn’t using online marketing?  How do you grow your accounting business? Continue reading How do you Grow Your Accounting Business?

What is the Revenue Cycle in Accounting?

The proper identification and acceptance of all sales are an important element of accounting 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. What is the revenue cycle in accounting? Continue reading What is the Revenue Cycle in Accounting?

What are Basic Purchasing Process Procedures?

Purchasing Procedures provide vendor selection and purchasing controls that assist in managing cash flow and providing quality inputs to the company. To make intelligent purchases, you must get the right quality and quantity of materials from the best vendors, at the best price, and at the right time. What are the basic purchasing procedures for the procurement process? Continue reading What are Basic Purchasing Process Procedures?

What is an Accounting Manual?

An accounting manual defines the organizations accounting policies and procedures for the accounting staff. It defines everything from accounting standards, to procedures, rules, and guidelines. It can even describe how the accounting department is organized. It is primarily used for training and reference for new hires to the accounting department. So what is an accounting manual?
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What Are the Uses of Cost Accounting Information?

 

Basic Cost Accounting Information starts with cost: a financial measure within your accounting management system defined as resources consumed or acquired in accomplishing a specified purpose such as performing a service, providing a product, or carrying out a project or program regardless of when the resources were ordered, received, or paid. Cost can be defined in a variety of ways depending on the objectives or information desired.  Continue reading What Are the Uses of Cost Accounting Information?

What Are Accounting Management Systems?

How familiar are you with the accounting rules and concepts utilized by accounting systems? If you were more confident with the information generated by your accounting program, would it help you to use it more effectively to run your company? More importantly, do you understand how your Accounting Policies and Procedures integrate with the accounting rules and concepts to produce the internal controls you need? Continue reading What Are Accounting Management Systems?