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?
Continue reading What is an Accounting Manual?
Quality management procedures are critical to improvement. If you are a manager of a group of people then you basically have two ways of using procedures, either you are using them to drive consistency and improvement or you’re not. How are your management procedures used? Continue reading How are Management Procedures Used?
Running a business is like herding cats, it is sometimes impossible to do everything yourself. At some point you will need to develop systems to handle the chaos. Listed below are four business systems you will most definitely find useful. Take a look. Continue reading What Systems Does a Business Need?
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?
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
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?