... problems to be aware of 81 ch04_4773.qxd 12 /29/06 9 :11 AM Page 82 82 Billing Best Practices Exhibit 4 .1 Summary of Billing Best Practices Best Practice Invoice Delivery 4 1 Avoid missed billings ... transactions 4 17 Use automated bank account deductions 4 18 Improve shipping charge revenue Cost Install Time ch04_4773.qxd 12 /29/06 9 :11 AM Page 83 4 1 Avoid Missed Billings 83 The descriptions should ... Enhance the invoice layout 4 10 Automatically check errors during invoice data entry 4 11 Delivery person creates the invoice 4 12 Computerize the shipping log 4 13 Track exceptions between the...
... when 10 0 percent of the target is reached When this type of plan is used, participants tend to “game the system,” ch05_4773.qxd 12 /29/06 8:59 AM Page 11 3 5 11 Use Activity-Based Budgeting 11 3 using ... Page 111 5–9 Include a Working Capital Analysis 111 average employee benefit percentage, seasonality percentage for revenues, changes in revenues, and the tax and interest rates The remainder of ... importance of accurate ch05_4773.qxd 12 /29/06 11 2 8:59 AM Page 11 2 Budgeting Best Practices working capital forecasting cannot be overstated, especially for a cash-strapped company Cost: Installation...
... ch05_4773.qxd 12 /29/06 8:59 AM Page 11 9 5 18 Adopt Two-Stage Capital Budgeting 11 9 to estimate completion times Just be sure to note actual completion ... In addition, AvantGard-ASP has a data file download ch06_4773.qxd 12 /29/06 9 :14 AM Page 14 1 6 11 Utilize an Investment Policy 14 1 that can be modified for automated porting to a company’s general ... of $1, 000 means that any invoice of more than $1, 000 is in the ch07_4773.qxd 12 /29/06 15 0 9 :16 AM Page 15 0 Credit and Collections Best Practices group of invoices that represents the bulk of a...
... applicability of this approach and the tax deductibility of contributions made into a rent-a-captive Cost: Installation time: ch 11_ 4773.qxd 12 /29/06 9:23 AM Page 259 11 21 Issue Catastrophe Bonds 259 11 20 ... prices based on the factors just noted Cost: Installation time: ch 11_ 4773.qxd 12 /29/06 9:22 AM Page 257 11 18 Obtain Advance Rating Assessments 257 11 17 Obtain Key Man Life Insurance for the ... ch 11_ 4773.qxd 12 /29/06 9:22 AM Page 255 11 16 Grant Employees Immediate 4 01( k) Eligibility 255 11 13 Use Internet-Based Options Pricing Services Any...
... chart of ch14_4773.qxd 12 /29/06 9:28 AM Page 335 14 –2 Modify Account Code Structure for Storage of ABC Information 335 Exhibit 14 .1 Summary of General Ledger Best Practices Best Practice Cost ... Time Chart of Accounts 14 1 Eliminate small-balance accounts 14 –2 Modify account code structure for storage of ABC information 14 –3 Reduce the chart of accounts 14 –4 Use identical chart of accounts ... 15 –7 Avoid overauditing of internal audits 15 –8 Complete all internal audit work papers in the field 15 –9 Create a control standards manual 15 10 Create an on-line internal audit library 15 11 ...
... implemented as part of a new product phase-in, which may be triggered by the ch16_4773.qxd 12 /29/06 9:33 AM Page 411 Total Impact of Best Practices on the Inventory Function 411 scheduled end of a product ... biometric time clocks 17 10 Track time with mobile phones 17 11 Use honor system to track vacation and sick time Payments to Employees 17 12 Issue electronic W-2 forms to employees 17 13 Outsource W-2 ... daily cycle-counting routines Cost: Installation time: ch16_4773.qxd 12 /29/06 9:33 AM Page 4 01 16–33 Reduce the Number of Product Options 4 01 16–32 Reduce the Number of Products The sales department...
... when 10 0 percent of the target is reached When this type of plan is used, participants tend to “game the system,” ch05_4773.qxd 12 /29/06 8:59 AM Page 11 3 5 11 Use Activity-Based Budgeting 11 3 using ... Page 111 5–9 Include a Working Capital Analysis 111 average employee benefit percentage, seasonality percentage for revenues, changes in revenues, and the tax and interest rates The remainder of ... importance of accurate ch05_4773.qxd 12 /29/06 11 2 8:59 AM Page 11 2 Budgeting Best Practices working capital forecasting cannot be overstated, especially for a cash-strapped company Cost: Installation...
... ch05_4773.qxd 12 /29/06 8:59 AM Page 11 9 5 18 Adopt Two-Stage Capital Budgeting 11 9 to estimate completion times Just be sure to note actual completion ... In addition, AvantGard-ASP has a data file download ch06_4773.qxd 12 /29/06 9 :14 AM Page 14 1 6 11 Utilize an Investment Policy 14 1 that can be modified for automated porting to a company’s general ... of $1, 000 means that any invoice of more than $1, 000 is in the ch07_4773.qxd 12 /29/06 15 0 9 :16 AM Page 15 0 Credit and Collections Best Practices group of invoices that represents the bulk of a...
... 7,250,000 1. 6% 11 6 ,000 Medium high 3,875,000 3.9% 15 1 ,12 5 750,000 7 .1% 53,250 $ 21, 375,000 1. 9% $396,375 High risk Totals Cost: Installation time: ch07_4773.qxd 12 /29/06 15 8 9 :16 AM Page 15 8 Credit ... of credit insurance This is essentially a guarantee against customer nonpayment It is faster to ch07_4773.qxd 12 /29/06 9 :16 AM Page 18 1 7– 41 Shorten the Terms of Sale 18 1 set up than a line of ... review—don’t wait a couple of extra days for customer payment information to arrive by mail Cost: Installation time: ch07_4773.qxd 12 /29/06 9 :16 AM Page 17 1 7–26 Create a Credit Policy 17 1 7–26 Create a...
... approach ch13_4773.qxd 12 /29/06 9:26 AM Page 311 13 12 Use Balanced Scorecard Reporting 311 will depend on a company’s budget, existing systems, and information distribution requirements Cost: Installation ... Systems 13 13 Create a contract terms database 13 14 Install a knowledge management system 13 15 Scan fingerprints at user workstations Taxation 13 16 Create an on-line tax policy listing 13 17 Designate ... intranet site 13 –8 Sell the shared services center 13 –9 Switch to an application service provider Reporting 13 10 Switch to on-line reporting 13 11 Track function measurements 13 12 Use Balanced...
... knowledge of bills of material Cost: Installation time: ch16_4773.qxd 12 /29/06 9:32 AM Page 372 372 Inventory Best Practices Exhibit 16 .1 Summary of Inventory Best Practices Best Practice Bill of Material ... 16 15 Audit all inventory transactions 16 16 Compare recorded inventory activity to on-hand inventories 16 17 Eliminate the physical count process 16 18 Cycle count based on usage frequency 16 19 ... area 16 –20 Move inventory to floor stock 16 – 21 Segregate customer-owned inventory 16 –22 Streamline the physical count process Cost Install Time ch16_4773.qxd 12 /29/06 9:33 AM Page 373 16 1 Audit...
... implemented as part of a new product phase-in, which may be triggered by the ch16_4773.qxd 12 /29/06 9:33 AM Page 411 Total Impact of Best Practices on the Inventory Function 411 scheduled end of a product ... biometric time clocks 17 10 Track time with mobile phones 17 11 Use honor system to track vacation and sick time Payments to Employees 17 12 Issue electronic W-2 forms to employees 17 13 Outsource W-2 ... daily cycle-counting routines Cost: Installation time: ch16_4773.qxd 12 /29/06 9:33 AM Page 4 01 16–33 Reduce the Number of Product Options 4 01 16–32 Reduce the Number of Products The sales department...
... ch05_4773.qxd 12 /29/06 8:59 AM Page 11 9 5 18 Adopt Two-Stage Capital Budgeting 11 9 to estimate completion times Just be sure to note actual completion ... In addition, AvantGard-ASP has a data file download ch06_4773.qxd 12 /29/06 9 :14 AM Page 14 1 6 11 Utilize an Investment Policy 14 1 that can be modified for automated porting to a company’s general ... of $1, 000 means that any invoice of more than $1, 000 is in the ch07_4773.qxd 12 /29/06 15 0 9 :16 AM Page 15 0 Credit and Collections Best Practices group of invoices that represents the bulk of a...
... applicability of this approach and the tax deductibility of contributions made into a rent-a-captive Cost: Installation time: ch 11_ 4773.qxd 12 /29/06 9:23 AM Page 259 11 21 Issue Catastrophe Bonds 259 11 20 ... prices based on the factors just noted Cost: Installation time: ch 11_ 4773.qxd 12 /29/06 9:22 AM Page 257 11 18 Obtain Advance Rating Assessments 257 11 17 Obtain Key Man Life Insurance for the ... ch 11_ 4773.qxd 12 /29/06 9:22 AM Page 255 11 16 Grant Employees Immediate 4 01( k) Eligibility 255 11 13 Use Internet-Based Options Pricing Services Any...