Tag Archives: management system

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?

How to Build an Effective Management System

Imagine what a professional football team would be like without an Effective Management System focused on a regimen of practice drills. Now take away their playbook and player statistics. What you have in this extreme scenario are highly talented (and perhaps overpaid) individuals participating in organized chaos. They might actually win a game or two, but in the long run, this team is doomed. Continue reading How to Build an Effective Management System

Why Is an Effective Internal Control System Crucial for Success?

According to the Institute of Internal Auditors (IIA), an effective internal control system helps ensure that our organizational processes are functioning properly, that our financial information is reliable, and that we’re in compliance with applicable regulations. Businesses primarily implement an internal control system to protect themselves from internal fraud and abuse, while many do so with regulatory or standards compliance in mind. Continue reading Why Is an Effective Internal Control System Crucial for Success?