By Steven M. Bragg(auth.)
Praise for prior variants of Accounting top Practices
"For a entire, but easy-to-read consultant to solving these all-too-common shortcomings on your accounting division, glance no additional than this glorious booklet. Steve Bragg presents hundreds of thousands of fixes, a lot of them requiring unusually little time or rate whereas offering a convenient advisor to universal implementation pitfalls. . . . i might suggest this priceless e-book to somebody who's seeking to increase their present approaches, 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 ebook is necessary to working a good and exact accounting division. using RFID expertise to trace files is one of the precious instruments during this most recent variation. A required learn for the not easy accounting manager's role."
?Jason Charet, CPA
"I've used Steve Bragg's Accounting most sensible Practices books for years as a resource of rules for development. Like earlier variants, this version has a couple of new, actionable most sensible practices in addition to refinements of these principles pronounced in past variants. The books are wide adequate of their standpoint in order that approximately any association may perhaps locate principles that may pay again the price of the publication again and again over."
?John Temmerman, Controller, Evangelical Lutheran Church in America
"What an exceptional 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 tactics inside of my place of work. thank you for placing all of it in a single book!"
?Tina M. Thomas, CPA, CTP, Controller, Goodman & corporation, LLP
Chapter 1 assessment of most sensible Practices (pages 1–3):
Chapter 2 tips on how to Use most sensible 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 money 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 top Practices (pages 191–202):
Chapter 10 Costing most sensible Practices (pages 203–223):
Chapter eleven submitting top Practices (pages 225–245):
Chapter 12 Finance top Practices (pages 247–269):
Chapter thirteen monetary Statements top Practices (pages 271–298):
Chapter 14 basic most sensible Practices (pages 299–333):
Chapter 15 common Ledger most sensible 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 top Practices (pages 417–448):
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Additional info for Accounting Best Practices, Seventh Edition
Since this burdened cost, which includes the cost of all the processing steps noted at the beginning of this section, can easily exceed $100 per transaction, it becomes a very effective way to shift usage toward the procurement card solution. Summarizing general ledger accounts. The summary statements that are received from the credit card processor will not contain as many expense line items as are probably already contained within a company’s general ledger (which tends to slice-and-dice expenses down into many categories).
This can result in direct employee resistance to further change, sabotaging new projects, a work slowdown, or (quite likely) the departure of the most disgruntled workers. This problem is best solved by planning for lapses between implementation projects to let the employees settle down. The best way to accomplish this lag between changes without really slowing down the overall schedule of implementation is to shift projects around in the accounting department, so that no functional area is on the receiving end of two consecutive projects.
A project can be canceled either because it has a signiﬁcant cost overrun that exceeds the original funding request or because it was initiated without any funding request in the ﬁrst place. Either approach results in failure. Besides the obvious platitude of “don’t go over budget,” the best way to avoid this problem is to build a cushion into the original funding request that should see the project through, barring any unusually large extra expenditures. Lack of planning. A critical aspect of any project is the planning that goes into it.