Download Accounting Control Best Practices (Wiley Best Practices) by Steven M. Bragg PDF

By Steven M. Bragg

The one practices worthy following are the easiest practices "Accounting keep an eye on most sensible Practices is succinctly defined in a single word-thorough. companies from production to hospitals can use this-easily understood through everybody from the knowledge access clerk in accounting to the CFO." -Melody Troesser Accountant Cole County Residential companies, Inc. "There isn't any authority on accounting or accounting regulate top practices like Steven Bragg. This man does the demanding stuff-he sees the large photograph completely but may also get down within the trenches and dig into tough and intricate components. His writing is obvious and his factors are basic and sensible." -Jack W. Boyer, CPA, MCP Boyer & affiliates "Accountants, analysts, and process designers will locate this a good device. genuine examples outline and show powerful keep an eye on issues, whereas preserving practicality and potency in brain. an exceptional addition to my library." -Clint Davies crucial Berry, Dunn, McNeil & Parker "A cornucopia of keep an eye on principles geared up via procedure and defined in basic terms to make sure fast implementation." -Richard B. Lanza, CPA/CITP, CFE, PMP President money restoration companions, LLC Destined to develop into an important machine software in aiding pros tailor a controls approach to the desires in their corporation, Accounting keep watch over most sensible Practices introduces all the significant accounting and operational approaches with hundreds of thousands of controls provided in easy, intermediate, and complex layers-from a uncomplicated paper-based procedure, to automatic platforms, to the complicated most sensible perform improvements in automated structures.

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Extra resources for Accounting Control Best Practices (Wiley Best Practices)

Sample text

10 encompasses several of the most important control points used in a procurement card program, including controls for reconciliation, missing receipts, rejected line items, and supervisory approval of the completed reconciliation. 11 is a custom-designed statement. The company has received from the procurement card supplier an electronic feed of all purchases and has integrated it into the account statement. This format is useful for presenting to card users a combination of spending limits, detail on purchases made, and a reconciliation checklist.

2 Complete the Line Item Rejection Form (Employee) 1. 14). 2. In Section A of the form, fill in your contact information under the “Your Contact Information” heading. Also specify your card number under the “Dispute Information” heading, as well as the number, date, dollar amount, and supplier name for the line item you are disputing. Please note that a separate form must be used for each line item. 3. In Section B of the form, check off the box next to the dispute description most closing matching the problem you have encountered.

If the agreement also states the sanctions to be imposed on the card user if the card is misused, this may act as a deterrent to anyone who might otherwise be tempted to misuse a card. • Obtain Level III reporting by the card provider. It is easier to control purchases if there is a greater level of detail regarding what card users are buying. Thus, it is useful to obtain from the card provider an electronic download of all Level III data relating to purchases, which includes the quantity, product code, product description, and freight/duty cost associated with each purchase.

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