10 12 adopt a document destruction policy

... workload of the accounts payable staff Cost: Installation time: 3–32 Install a Payment Factory In a typical accounts payable environment, a company allows its subsidiaries to manage their own payables ... Linking an e-mail remittance advice to a wire transfer is rarely available on accounting software packages, so a company ch03_4773.qxd 12/ 29/06 9 :10 AM Page 67 3–44 Use Signature Stamp 67 would have ... example, someone could easily add a single letter to the acronym on a check made payable to the NAC (National Arts Center), changing it to NACM (National Association for Credit Managers) To avoid...

Ngày tải lên: 20/06/2014, 18:20

... charged as a standard percentage of sales, consider setting up a “freight” sales tax authority in the accounting software that will automatically include a shipping charge as part of the sales ... which can alter these relationships For example, an automated shrink-wrapping machine can substantially increase the number of pallets that a single shipper can handle in a day, while a good ... inflation rate, average pay raise, ch05_4773.qxd 12/ 29/06 8:59 AM Page 111 5–9 Include a Working Capital Analysis 111 average employee benefit percentage, seasonality percentage for revenues, changes...

Ngày tải lên: 20/06/2014, 18:20

... banks and bank accounts The staff of AvantGard-ASP then takes two to three days to contact each bank and arrange for automated porting of the company’s cash transactions to the AvantGard-ASP site, ... company’s bank accounts and the book balances it maintains for each of those accounts For example, a retail store operation may have a separate bank account for each of hundreds of locations, each ... small balances with no approval 7 12 Create an accurate bad debt forecast Collection Systems 7–13 Compile customer assets database 7–14 Maintain access to customer orders database 7–15 Arrange...

Ngày tải lên: 20/06/2014, 18:20

... for approval, though this irritates the sales manager A better and more politically correct variation is to persuade the sales manager to adopt a midway solution that leaves both parties partially ... variances by comparing the standard scrap to actual scrap The problem with this approach is that the company adopts a mind-set that the standard scrap levels are acceptable, and so never undertakes ... This way, small changes in the allocation base will result in similarly small changes in the overhead cost If the allocation base is not monetary, use an allocation base that is so large that any...

Ngày tải lên: 20/06/2014, 18:20

... Elimination 12 8 12 9 Avoid the bank reconciliation Defer routine work 12 10 Eliminate multiple approvals 12 11 Eliminate small accruals 12 12 Reduce investigation levels Work Management 12 13 Assign ... workstation can greatly reduce many of these work steps A treasury workstation is a combination of hardware and software that will manage cash, investments, debt issuance and tracking, as well as ... extra accruals, along with the attendant analysis, review, and approval effort, to yield financial statements that now have a profit altered by one or two percentage points Realistically, such a...

Ngày tải lên: 20/06/2014, 18:20

... a company to store all the operating data it desires in the same place as its financial data, which means that any reports accessing financial data can automatically include operating data as well ... E-commerce Financial planning and analysis Global finance Management accounting Mergers and acquisitions Six sigma Supply-chain management Taxation Revenue-chain management All of these reasons sum ... internal audit work papers in the field 15–9 Create a control standards manual 15 10 Create an on-line internal audit library 15–11 Create and disseminate information from a best practices database...

Ngày tải lên: 20/06/2014, 18:20

... scan a bar code into a portable device but not upload the data to a central database until the end of his shift, resulting in a significant shortfall in database accuracy If the materials handling ... integrated with a bar code scanner that communicates by radio waves with a central warehouse database For example, a person picks a part from stock, scans the item’s bar code and the loca- ch16_4773.qxd ... the warehouse staff to delay the data-entry task If the warehouse has a highly variable amount of transaction volume, some backlog may reappear in periods of high activity, though this can be avoided...

Ngày tải lên: 20/06/2014, 18:20

... every day, and have a manager inquire about the status of all items in the account on a regular basis Also, not evaluate the performance of the cash application staff based on how fast they can apply ... Manufacturing National Professional Apparel Manufacturers National Electronics and Communications National Seed Distributors National Fundraising Manufacturers National Steel Mill National Garage ... National Credit Management Groups National Agricultural Credit Conference National Musical Instrument National Christian Suppliers National Paper Packaging Credit Group National Coated Paper and...

Ngày tải lên: 21/06/2014, 04:20

... of documents and adding receivers in the accounting area would be a reasonable way to ensure that they can always be found Cost: Installation time: 10 12 Adopt a Document- Destruction Policy Many ... computer database 10 10 Improve computer system reliability 10 11 Track documents with RFID Other Filing Issues 10 12 Adopt a document- destruction policy 10 13 Eliminate attaching back-up materials ... that the archived data may be in a format that will be unreadable a few years from now—after all, how many companies today have equipment that can read data stored on one of the old storage mediums...

Ngày tải lên: 21/06/2014, 04:20

... can always release a study that shows the (almost invariably) minor changes in the allocation base from month to month An alternative approach that may quash any fears of this sort is to use a ... organizations that occupy a large geographical area, the accounting staff faces the chore of somehow sending financial and operational reporting information to many locations This can mean a mass ... give each business unit manager an assigned tax contact who is available to answer taxation-related questions, as well as to review business plans for activities that may have a tax impact This...

Ngày tải lên: 21/06/2014, 04:20

... audit documents and that must be cleared by the audit team before the work papers will receive final approval Workflow software can also maintain a database of previous audit work at each company ... system, and occasionally does not a good job in this capacity For example, the late or inaccurate data entry of receiving information can lead to inaccurate financial statements, as well as inaccurate ... internal audits that are wrapped up in the field Cost: Installation time: 15–9 Create a Control Standards Manual Auditors are trained to have a good idea of which control standards should be attached...

Ngày tải lên: 21/06/2014, 04:20

... 115–116 Simplification, 123 124 Software, 120 121 Summary-level, 110 111 Business driver analysis, see Driver analysis Calendars, activity, 306 Capacity Analysis, 106 107 Tracking, 212 Capital budget, ... company shall maintain material and labor record accuracy of at least _%, which shall be verified on a regular basis by the internal audit staff ch19_4773.qxd 12/ 29/06 9:38 AM Page 469 Appendix ... Elimination 12 8 12 9 12 10 Avoid the bank reconciliation Defer routine work Eliminate multiple approvals 12 11 Eliminate small accruals 12 12 Reduce investigation levels Work Management 12 13 Assign...

Ngày tải lên: 21/06/2014, 04:20