Tighten Accounting Controls

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?

Trying to comply with customer expectations, management objectives, government regulations, and/or industry standards can be expensive.

Well-written Accounting Procedures are an important part of an internal control system (as required by SOX Section 404), but over documenting can be a detriment to internal controls.

Accounting Procedures can play a role in continual improvement, not just compliance if you use your accounting Procedures to drive internal control.

Are you curious about pursuing an education in accounting? The field of accountancy has many benefits and can be a very rewarding experience for people who are interested in finance and business.  Why accounting is a great major?