The Internal Control Procedures Series provides a risk reducing framework of financial internal controls for the ten core accounting cycles — these cycles make up the accounting body of knowledge. Each financial cycle focuses on a key element of business accounting and, therefore, should be covered in your company’s financial accounting policies and procedures manual. Continue reading What are Financial Internal Controls?
Tag Archives: cycle
What are Performance Metrics Examples?
Leaders work on understanding and improving the system through performance metrics or measures. Anytime I bring up the question of measures, people always ask “what’s a good measure?” The answer is, it depends on the type of business you operate. But it always starts with your purpose — what are you in business to do? Continue reading What are Performance Metrics Examples?
How Do Accounting Systems Work?
The financial transactions of any accounting system can be grouped into four major accounting cycles: Revenue, Purchase, Payroll, and General Journal. Continue reading How Do Accounting Systems Work?
How to Take Control of the Sales and Marketing Cycle
If you are an organization spending $500,000 or more on marketing expenses (e.g. advertising, trade shows, print materials, direct mail, etc.) then it may be possible to save $250,000. Why you ask? Because marketing has the greatest potential of being very unproductive.
Continue reading How to Take Control of the Sales and Marketing Cycle
What Are Cash Cycle Procedures?
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?
How Can You Master the ISO 9001 PDCA Cycle?
PDCA (Plan Do Check Act) Cycles refers to the PDCA wheel (Figure 1) and the continuous motion that PDCA requires. PDCA is not as easy as it sounds but, if you are interested in ISO 9001 Quality Management Systems (QMS), then you will find that an ISO 9001 PDCA cycle is the solid foundation. Master PDCA and you will become the master of your ISO 9001 QMS. Continue reading How Can You Master the ISO 9001 PDCA Cycle?