Accounting

Accounting

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The accounting department is a cost center. It does not directly generate revenues, but rather provides a fixed set of services to the rest of a company, and is asked to do so at the lowest possible cost. Consequently, the accounting staff is called upon to process transactions, write reports, create new processes or investigate old ones—while doing so as an ever-shrinking proportion of total expenses.
This cost-based environment is a very difficult one for most accountants, for their training is primarily in accounting rules and regulations, rather than in how to run a very specialized department in a cost-effective manner. They find a few ideas for improvements from attending seminars or perusing accounting or man- agement magazines, but there is no centralized source of information for them to consult, which itemizes a wide array of possible improvements. Hence the need for the third edition of Accounting Best Practices.
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 consult- ing services to other companies. Accordingly, it contains a blend of best practices from a wide variety of accounting environments, ranging from very small part- nerships 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

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Detail Information

Series Title

Accounting

Call Number

-

Publisher

: ., 2003

Collation

1-400

Language

English

ISBN/ISSN

-

Classification

NONE

Content Type

-

Media Type

-

Carrier Type

-

Edition

3th Edition

Subject(s)

Accounting

Specific Detail Info

-

Statement of Responsibility

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