Documenting Company Business Processes

There are 6 reasons to document company processes. Understand the steps required to complete a certain process Understand the time necessary to complete the entire process and each step Understand the complexity of the process, by determining which department produces...

Measuring a Company’s Stability and Success

As discussed in the 1/1/2010 Blog called The 10 Key Financial Reports Every Company Should Use, all companies need to monitor their key performance indicators or kpis.   There are thousands of kpis depending on your industry, departmental area and task.  Management...

Creating an Accounting Policies and Procedures Manual

An accounting manual is an important tool that all companies should create and maintain.  An accounting manual describes in detail accounting procedures and policies that are currently in affect at your company.  The accounting manual is like an owner’s manual you...

Independent Contractor or Employee

Small and medium sized businesses have been put on notice by the state governments.  Most States have budget shortfalls and need to obtain additional tax revenue.  States are hiring new investigators in order to assess more small and medium sized company’s...

The Importance of Reviewing Internal Controls

Due to the severe economic downturn businesses are required to reduce staff and cut operating costs in order to maintain profitability.  The normal place to reduce staff is in the administrative areas.  However, as you will read from the article below, maintaining...

Deciding on a New Accounting Software System

An accounting software system should not be simply used for recording and storing company transactional data.  The main purpose of an accounting system is to allow the user the capability to extract and analyze the transactional information in order to make informed...