How can you make the most of your accounting manual and accounting policies and accounting procedures to support your internal control objectives? Continue reading Do Your Accounting Procedures Drive Internal Control?
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 What Are Internal Controls for Cash Security?
Purchasing Procedures provide vendor selection and purchasing controls that assist in managing expenses and provide quality inputs to the company. The following Purchasing Procedures should be utilized to account for and control all purchases and acquisitions of the company. Continue reading What Purchasing Procedures Does Your Company Need?
There are six areas of risk frequently capitalized upon by embezzlers. While these areas of risk are not the only ones containing “embezzlement windows of opportunity”, these are the areas that offer the most significant sources of exposure to your company. What are common embezzlement schemes? Continue reading What Are Common Embezzlement Schemes?
The company’s Accounting Department Organization Chart provides the foundation for coordinating and administrating your accounting management system. A description of the roles and responsibilities applicable to the accounting and operations staff are provided. Responsibilities specific to certain procedures or tasks are presented in the related procedures. Continue reading What Is an Accounting Department Organization Chart?
Can you really have compliance without control? You can check the box that a business procedures exists but a procedure requirement is not about existence it is about deployment and usage. When we are speaking of control, there are really two different control conditions: static versus dynamic. What does static versus dynamic mean in terms of policy control and procedure systems? Continue reading Static Versus Dynamic Control