Business Category: Tighten Accounting Controls


Do Your Accounting Procedures Drive Internal Control?

Everywhere in your organization people are carrying out business processes to make things happen. This obviously includes the accounting department. We know from COSO and Sarbanes Oxley compliance that accounting procedures are an important element of your internal controls. Organizations spend a lot of effort to produce an accounting manual containing accounting policies and procedures. So, if you are going to produce an accounting manual with accounting policies and accounting procedures, how can you make the most of the effort you put into them? Continue reading…

Revenue Policies and Procedures Manual

What Are Internal Controls Accounting Procedures?

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 internal control procedures that document well-defined accounting processes, however, are an important component of the system you are building. Continue reading…

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…

How Much Business Capital Do You Need?

Business Capital is one of the most critical components that fuels your company. Without it, organizations can’t grow, but how do you know how much your business really needs? Having too much or too little cash can both be detrimental to your organization. You don’t have to be a CFO or finance expert to understand how cash flow works within your company, but it might help. Continue reading…

Does Your Credit Policy Protect Your Business Cash?

When you deliver goods or services and you extend a business customer credit by accepting a promise to pay later through an invoice, then in a sense you are loaning your customers cash. What steps can you take to make sure you get your cash back? If you use good cash management practices to protect yourself from your employees and co-workers, then shouldn’t you be taking the same precautions with those outside your business? The key is to have a clear credit policy. Continue reading…

What Are Internal Controls for Cash Security?

We all hope our co-workers and employees are honest, and they probably are. Yet, improper cash control, poor cash practices, and weak cash security can tempt people who are basically honest. Think about parking at the local mall. You always roll up your windows and lock your car to protect your possessions, especially if you made some purchases at an earlier stop. Most of the people who walk by your car at the mall are honest, yet you don’t want to tempt them by making it easy to take something that doesn’t belong to them. What are some internal controls for cash? Continue reading…