Tag Archives: procedures

How to Determine Needed Procedures

How many policies and procedures you develop depends on your acceptance of risk and variation within your organization. This acceptance of risk combined with your policies and procedures make up your governance model for how senior management manages risk. So how do you determine needed procedures for your company? Continue reading How to Determine Needed Procedures

How to Write an Accounts Payable Procedures Manual

Accounts payable is the event that pays for the liability incurred by the purchasing process, which is for supplier purchases or  inventory required by manufacturing to meet customer demand. Sales generates the demand that created the accounts receivables, which is turned into cash. How do you write accounts payable procedure manual to support the purchasing policies and procedures manual, to disburse the cash? Continue reading How to Write an Accounts Payable Procedures Manual

How Do Procedures Reduce Compliance Costs?

Writing procedures is an exercise in controlling compliance costs. You’re trying to comply with customer expectations, management objectives, government regulations, and/or industry standards, making compliance expensive. Regardless of the reason for compliance, wouldn’t you want to write as few procedures as possible if you could still conform to the compliance mandate and keep your compliance costs to a minimum? Continue reading How Do Procedures Reduce Compliance Costs?

Has Your Process Procedures Project Stalled?

Your process is not living up to expectations, so you’ve decided to implement standard operating procedures (SOP) to improve process consistency, compliance, and effectiveness. However, that project is stalled: employees are not buying into your proposed changes, and management is growing impatient. So, how do you use your process procedures journey to your advantage?

Continue reading Has Your Process Procedures Project Stalled?

What Are Accounting Controls and Processes?

When you hear the phrase “internal control system required by Sarbanes-Oxley (SOX) Section 404,?” do you automatically think of policies and procedures? Simply having accounting policies and procedures does not indicate an internal controls accounting system. Well-written accounting control procedures that document well-defined accounting processes, however, are an important component of the control system you are building. Continue reading What Are Accounting Controls and Processes?

What Policies and Procedures Lessons Can You Learn from the IRS?

Unfortunately (for some of us), it’s that time of the year again. All over the USA and even outside the country, individuals (like me) are filing their Federal and state tax returns at the last possible moment. I’m sure a number of companies are bound up in the rush to beat tonight’s deadline, too (my friends who are CPAs are overwhelmed with work right now). So what policies and procedures lessons from the IRS should you learn? Continue reading What Policies and Procedures Lessons Can You Learn from the IRS?