Business Tag: procedure


Policies Procedures SOP

What Is a Standard Operating Procedure (SOP)?

An important aspect of any quality system is to work according to clear-cut Standard Operating Procedures (SOPs). An SOP is a policy and procedure document which describes the regular recurring activities appropriate to quality operations. If it is Critical To Quality (CTQ) then it is a candidate for a standard operating procedure. Consistency is the goal or purpose of an SOP, to carry out all operations correctly and always in the same manner. Continue reading…

How to Create an Effective Policy Procedure Manual

An effective policy procedure manual is clearly written and easily understood by all the employees in your organization. Remember that the objective of your policy procedure manual is to improve the efficiency of your company, establish business controls and to comply with established regulations. Therefore, the most important rule when writing a policy procedure manual is that clarity and readability are much more important than style, perfect grammar and a large vocabulary. Continue reading…

What Is the Revenue Cycle?

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…

Difference Between Processes and Procedures

What’s the Difference Between Processes and Procedures?

The difference between processes and procedures can be summed up as breadth and depth. A process defines the big picture and highlights the main elements of your business–breadth. A procedure captures those elements and adds more information for functional responsibilities, objectives, and methods–depth. Taken together, they each have different roles to play in defining the standard operating model of your business. Continue reading…