Tighten Accounting Controls

Every company should document its accounting procedure process.  A well-designed and properly maintained system of accounting policy and procedure documentation enhances your accountability and consistency, while at the same time producing long-term savings from reduced duplication, rework, training, and increased focus, consistency, and productivity. Writing accounting manuals of policies and procedures is an important task. […]

Three things drive up the cost of Sarbanes-Oxley compliance more than any other: Cost of Scale, Cost of Review, and Cost of Improvement.

Control systems that are designed only to achieve compliance are doing the bare minimum. How can you build an effective internal control system for success?

The accounts receivable procedures for collection process are critical to reducing days sales outstanding and generating more cash for your business.

Giving your customers credit is like lending them cash. Internal control should include credit policy and processes just like it covers how cash is handled.

Accounts payable is focused on increasing the size of assets, while maintaining a solid credit rating, and increasing purchasing process velocity.

The purpose of your Accounting Policy Manual is to document the financial principles and policies governing your companyƒ’s accounting practices.

Employers, and particularly owners of small or medium-sized businesses, have to be careful about developing a personal trading policy for their employees. Developing an in-depth trading policy could protect you from liability and even criminal charges. Do you have effective employee personal trading policies?

Starting a business is a particularly difficult and expensive process, and the life of an entrepreneur is generally so packed with day-to-day responsibilities that taking care of your finances is often the last thing on your mind. What accounting tips do small businesses need to know?