Accounting Best Practices - 3rd EditionJohn Wiley & Sons, Inc.,| 2004| ISBN: 0-471-44428-6 | 406 pages | PDF | 2.4 MB
Everyone knows that adopting accounting best practices can improve efficiency and reduce error rates in the accounting department, but less obvious are the benefits gained from better reporting of information to other parts of the company. More accurate data reported faster can play an integral role in both short- and long-term strategic planning. Accounting guru Steven Bragg explains how to leverage this and other opportunities in his authoritative Accounting Best Practices, Third Edition.
Bragg adds over sixty new best practices to his benchmark resource, concentrating primarily on the areas of:
- Internal auditing
- Accounts payable
- Finance
- Payroll
Bragg highlights the dos and don'ts of best practices implementation, and a new reference system renders the expansive collection of best practices readily accessible. Accounting and financial managers, internal and external auditors, and consultants will find Accounting Best Practices, Third Edition to be a peerless resource.
This book is compiled from the author’s lengthy experience in setting up and operating a number of accounting departments, as well as by providing consulting services to other companies. Accordingly, it contains a blend of best practices from a wide variety of accounting environments, ranging from very small partnerships to multibillion-dollar corporations. This means that not all of the best practices described within these pages will be useful in every situation—some
are designed to provide quick and inexpensive, incremental improvements to an operation that can be installed in a day, while others are groundbreaking events that require six-figure investments (or more) and months of installation time.
Some will only work for companies of a certain size, and should be discarded as more expensive and comprehensive accounting systems are installed—it all depends on the situation. Consequently, each chapter includes a table that notes the ease, duration, and cost of implementation for every best practice within it. The best practices are also noted in summary form in Appendix A. This third edition of Best Practices contains 60 new best practices. These are concentrated in the areas of internal auditing, accounts payable, finance, and payroll.
Some of the best practices involve solutions that have been posted on various Internet sites, but there are fewer of these best practices than appeared in the second edition. Indeed, a great many Internet sites listed in the second edition have closed down, requiring the author to remove three best practices that had been listed in that book. The area of application service providers has been especially hard hit, with about two-thirds of the providers listed in the second edition having shut their doors in the past two years.
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