12 12 reduce investigation levels

... processing, a controller can reduce the management time devoted to this functional area and allocate more time to other more profitable company functions Besides reduced management time, it can ... fees can be significantly reduced For example, it can automatically offset payments due between company subsidiaries, resulting in smaller cash transfers and similarly reduced foreign exchange ... accounting software that can post from standard X12 820 transactions, then it can handle the EPN STP 820 transaction as well, since it is a subset of the X12 820 transaction Technically, the EPN STP...

Ngày tải lên: 20/06/2014, 18:20

... practice to install and use Cost: Installation time: ch04_4773.qxd 12/ 29/06 9 :12 AM Page 95 4 12 Computerize the Shipping Log 95 4 12 Computerize the Shipping Log For a company with no computer linkage ... all open invoices that customers have not yet paid Though it seems ch04_4773.qxd 12/ 29/06 9 :12 AM Page 97 4–15 Reduce Number of Parts in Multipart Invoices 97 like a good idea to tell customers ... printer will jam, and the cost of the invoices can be substantially reduced The biggest cost saving, ch04_4773.qxd 12/ 29/06 9 :12 AM Page 98 98 Billing Best Practices however, is of the filing time...

Ngày tải lên: 20/06/2014, 18:20

... 12/ 29/06 8:59 AM Page 127 Total Impact of Best Practices on the Budgeting Function Exhibit 5.4 Impact of Best Practices on the Budgeting Function 127 ch05_4773.qxd 12/ 29/06 128 8:59 AM Page 128 ... application service provider (ASP) In addition, the soft- ch05_4773.qxd 12/ 29/06 8:59 AM Page 121 5–20 Reduce the Number of Accounts 121 ware generates templates for data-entry use by each department, ... confirm that there will be no impact on the resulting financial reports ch05_4773.qxd 12/ 29/06 8:59 AM Page 122 122 Budgeting Best Practices Given the intricacies of eliminating accounts, it is usually...

Ngày tải lên: 20/06/2014, 18:20

... ch09_4773.qxd 12/ 29/06 9:20 AM Page 212 212 Costing Best Practices one can report on the activities which truly have the greatest impact on product costs Cost: Installation time: 9 12 Track Excess ... management can now see the total amount of scrap and presumably take action to reduce it to levels well below their former levels The cost accountant’s variance reporting is now replaced with a detailed ... receipts—reduces the work of the accounting ch08_4773.qxd 198 12/ 29/06 9:18 AM Page 198 Commissions Best Practices Exhibit 8.2 Impact of Best Practices on the Commissions Function ch08_4773.qxd 12/ 29/06...

Ngày tải lên: 20/06/2014, 18:20

... work 12 10 Eliminate multiple approvals 12 11 Eliminate small accruals 12 12 Reduce investigation levels Work Management 12 13 Assign closing responsibilities 12 14 Compress billing activities 12 15 ... professional satisfaction in issuing a set of absolutely accurate finan- ch12_4773.qxd 12/ 29/06 9:24 AM Page 277 12 12 Reduce Investigation Levels 277 cial statements, this can use up a considerable amount ... training 12 16 Continually review wait times 12 17 Convert serial activities to parallel ones 12 18 Create a closing schedule 12 19 Document the process 12 20 Restrict the use of journal entries 12 21...

Ngày tải lên: 20/06/2014, 18:20

... portfolio A way to reduce the tax liability is to shift a company’s IP to an offshore intellectual property holding company that is sited in a low-tax jurisdiction Any ch13_4773.qxd 12/ 29/06 9:26 ... accounting processes ch13_4773.qxd 12/ 29/06 9:26 AM Page 331 Summary Exhibit 13.9 Impact of Best Practices on General Accounting Functions 331 ch13_4773.qxd 332 12/ 29/06 9:26 AM Page 332 General ... accounts—many organizations have a convoluted and lengthy chart of accounts ch14_4773.qxd 12/ 29/06 9:28 AM Page 337 14–3 Reduce the Chart of Accounts 337 The sheer length of such a list introduces a number...

Ngày tải lên: 20/06/2014, 18:20

... stock levels as forecasted ch16_4773.qxd 12/ 29/06 9:33 AM Page 407 16–41 Cross-Dock Inventory 407 demand levels change, so the conflicting objectives of minimal stockouts and minimal inventory levels ... cycle-counting routines Cost: Installation time: ch16_4773.qxd 12/ 29/06 9:33 AM Page 401 16–33 Reduce the Number of Product Options 401 16–32 Reduce the Number of Products The sales department loves ... inventory balances and no longer need to make a trip to the warehouse to ch16_4773.qxd 12/ 29/06 412 9:33 AM Page 412 Inventory Best Practices verify this information Finally, the production department...

Ngày tải lên: 20/06/2014, 18:20

... to the investigation of a new customer who has placed a substantial order—spend ch07_4773.qxd 12/ 29/06 178 9:16 AM Page 178 Credit and Collections Best Practices too much money on the investigation, ... let an internal audit team review the situation from time to time ch07_4773.qxd 12/ 29/06 9:16 AM Page 157 7 12 Create an Accurate Bad Debt Forecast 157 By avoiding the approval process for writing ... 1.6% 116,000 Medium high 3,875,000 3.9% 151 ,125 750,000 7.1% 53,250 $21,375,000 1.9% $396,375 High risk Totals Cost: Installation time: ch07_4773.qxd 12/ 29/06 158 9:16 AM Page 158 Credit and Collections...

Ngày tải lên: 21/06/2014, 04:20

... usually involving a compact disc jukebox with storage levels in the very high gigabyte range, as does increasing primary 221 ch10_4773.qxd 12/ 29/06 9:21 AM Page 222 222 Filing Best Practices Exhibit ... Filing Issues 10 12 Adopt a document-destruction policy 10–13 Eliminate attaching back-up materials to checks for signing 10–14 Eliminate reports 10–15 Move records off-site 10–16 Reduce number ... from implementing it—either through reduced filing costs or by improving the efficiency of the corporation as a whole Cost: Installation time: ch10_4773.qxd 12/ 29/06 9:21 AM Page 232 232 Filing...

Ngày tải lên: 21/06/2014, 04:20

... controller’s primary reporting responsibility 12/ 29/06 9:26 AM Page 312 Exhibit 13.5 Sample Measurements Report ch13_4773.qxd 312 ch13_4773.qxd 12/ 29/06 9:26 AM Page 313 13–13 Create a Contract ... into which accounts are used, their account numbers, ch12_4773.qxd 12/ 29/06 9:24 AM Page 290 290 Financial Statements Best Practices Exhibit 12. 5 Sample Journal Entry Form for the Allocation of ... departments Because an allocation base usually includes the latest financial infor- ch12_4773.qxd 12/ 29/06 9:24 AM Page 291 12 26 Conduct Daily Review of the Financial Statements 291 mation before a final...

Ngày tải lên: 21/06/2014, 04:20

... staff A particularly effective approach is to e-mail best practice ch15_4773.qxd 12/ 29/06 9:30 AM Page 361 15 12 Outsource the Internal Audit Function 361 information directly to those business ... risk, a company must devise a ranking for risk levels, with number one being any potential control problem that could place the com- ch15_4773.qxd 12/ 29/06 9:30 AM Page 363 15–15 Use Workflow Software ... commencement ch15_4773.qxd 368 12/ 29/06 9:30 AM Page 368 Internal Auditing Best Practices Exhibit 15.2 Impact of Best Practices on the Internal Auditing Function ch15_4773.qxd 12/ 29/06 Summary 9:30 AM...

Ngày tải lên: 21/06/2014, 04:20

... 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 ... responsibilities 12 14 Compress billing activities 12 15 Conduct transaction training 12 16 Continually review wait times 12 17 Convert serial activities to parallel ones 12 18 Create a closing schedule 12 19 ... Internet 12 3 Restrict the level of reporting 12 4 Write financial statement footnotes in advance 12 5 Create a disclosure committee Work Automation 12 6 Automate recurring journal entries 12 7 Automate...

Ngày tải lên: 21/06/2014, 04:20