Download e-book for iPad: Accounting Best Practices, Seventh Edition by Steven M. Bragg(auth.)

By Steven M. Bragg(auth.)

Praise for past variants of Accounting top Practices

"For a complete, but easy-to-read advisor to solving these all-too-common shortcomings on your accounting division, glance no additional than this wonderful e-book. Steve Bragg offers 1000s of fixes, a lot of them requiring unusually little time or rate whereas supplying a convenient consultant to universal implementation pitfalls. . . . i'd suggest this useful e-book to someone who's seeking to improve their current methods, even if as a result of development of their company, compliance with Sarbanes-Oxley, or simply as a part of their ongoing development process."
?Martyn Webster, CPA, Director of Finance, XenoPort, Inc.

"This e-book is necessary to operating an effective and actual accounting division. using RFID expertise to trace records is one of the precious instruments during this newest version. A required learn for the tough accounting manager's role."
?Jason Charet, CPA

"I've used Steve Bragg's Accounting top Practices books for years as a resource of rules for development. Like past variants, this version has a few new, actionable most sensible practices in addition to refinements of these rules pronounced in prior variations. The books are vast sufficient of their point of view in order that approximately any association might locate rules which may pay again the price of the ebook repeatedly over."
?John Temmerman, Controller, Evangelical Lutheran Church in America

"What an excellent source! i've been within the accounting box for over 20 years, and that i used to be nonetheless capable of achieve perception into bettering approaches inside of my workplace. thank you for placing all of it in a single book!"
?Tina M. Thomas, CPA, CTP, Controller, Goodman & corporation, LLP

Content:
Chapter 1 assessment of most sensible Practices (pages 1–3):
Chapter 2 the way to Use top Practices (pages 5–18):
Chapter three bills Payable top Practices (pages 19–70):
Chapter four Billing most sensible Practices (pages 71–89):
Chapter five Budgeting most sensible Practices (pages 91–116):
Chapter 6 funds administration most sensible Practices (pages 117–133):
Chapter 7 Collections most sensible Practices (pages 135–168):
Chapter eight credits most sensible Practices (pages 169–190):
Chapter nine Commissions most sensible Practices (pages 191–202):
Chapter 10 Costing most sensible Practices (pages 203–223):
Chapter eleven submitting most sensible Practices (pages 225–245):
Chapter 12 Finance top Practices (pages 247–269):
Chapter thirteen monetary Statements top Practices (pages 271–298):
Chapter 14 basic top Practices (pages 299–333):
Chapter 15 basic Ledger top Practices (pages 335–349):
Chapter sixteen inner Auditing top Practices (pages 351–368):
Chapter 17 stock most sensible Practices (pages 369–416):
Chapter 18 Payroll most sensible Practices (pages 417–448):

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Additional resources for Accounting Best Practices, Seventh Edition

Sample text

In the short run, there is an overwhelming feeling of discontent, because any kind of change makes employees nervous about what the impact will be on their jobs. Admittedly, a primary purpose of using best practices is to reduce the payroll expense in the accounting department, or at least to handle an increased workload with the same number of employees. Consequently, employees have a reason to be concerned. There are several ways to deal with employee concerns. One is to create a standard policy of rolling all displaced employees onto a project team that will be used to implement even more best practices.

Reduced supplier list. The number of active vendors in the purchasing database can be greatly reduced, which allows the buying staff to focus on better relations with the remaining ones on the list.  Reduced mailroom volume. Even the mailroom will experience a drop in volume, since there will be far fewer incoming supplier invoices and outgoing company checks. A procurement card is easy to implement (just hand it out to employees), but keep a significant difficulty in mind: The banks that issue credit cards must expend extra labor to set up a procurement card for a company, since each one must be custom designed.

For example, automating expense reporting is listed as requiring a long implementation period and being moderately expensive (all because of the programming required). If the reader has a large staff of traveling employees who constantly submit expense reports, this may be a viable option, despite the projected implementation barriers. However, if only a few expense reports are submitted, then perhaps this is a best practice that should be passed over in favor of more practical opportunities. 1 lists all of the best practices in this chapter.

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