... successful best practiceimplementation that will result in increased levels of efficiency in the accounting department.TYPES OF BEST PRACTICES This section describes the two main types of best practices, ... for every best practice within it. The best practices are also noted in summary form in Appendix A.This third edition of BestPractices contains 60 new best practices. These areconcentrated in ... Sons, Inc.: Accounting and Finance for Your Small Business Accounting BestPractices Accounting Reference DesktopBusiness Ratios and FormulasThe Controller’s FunctionControllershipCost Accounting Design...
... additional best prac-tices not found in AccountingBest Practices. These include the author’s Inventory Best Practices (John Wiley & Sons, 2004), Billing and Collections BestPractices (John ... possible to use all of these bestpractices together, since some are mutually exclusive—one must be careful in choosing the correct best practices. Lastly, a number of bestpractices focus on the ... continued success.The Impact of BestPractices on Employees 1718 How to Use Best Practices SummaryThis chapter has given an overview of the situations in which bestpractices implementations are...
... Installation time:76 Accounts Payable Best Practices ch03_4773.qxd 12/29/06 9:10 AM Page 7682 Billing Best Practices Exhibit 4.1 Summary of Billing BestPractices Best Practice Cost Install TimeInvoice ... 9:11 AM Page 82Chapter 4Billing Best Practices This chapter covers the bestpractices that can be used to create a more efficientbilling operation. The bestpractices fall into three main categories. ... ensures that customers receive invoices almost at once.Implementation Issues for Billing Best Practices The bestpractices in this chapter comprise a broad mix of issues that are easilyput in place...
... paid. Though it seems96 Billing Best Practices ch04_4773.qxd 12/29/06 9:12 AM Page 96104 Budgeting Best Practices Exhibit 5.1 Summary of Budgeting BestPractices Best Practice Cost Install TimeBudget ... all of the best practices, followed by a discussion of individual best practices, each one beingpresented in a separate section. The chapter finishes with a review of how these best practices ... bestpractices result in a significant improvement in the effi-ciency of the billing function.For more information about billing best practices, please refer to Billing andCollections Best Practices...
... Account Structure Using Best Practices ch06_4773.qxd 12/29/06 9:14 AM Page 131Total Impact of BestPractices on the Cash Management Function 143Exhibit 6.3 Impact of BestPractices on the Cash ... connection, such as a DSL, cable, or T1 phone130 Cash Management Best Practices Exhibit 6.1 Summary of Cash Management BestPractices Best Practice Cost Install Time6–1 Access bank account information ... Installation time:Total Impact of BestPractices on the Cash Management FunctionAn accounting department is well advised to implement nearly all of the best practices advocated in this chapter,...
... more information about collections best practices, please refer to Bragg, Billing and Collections BestPractices (Wiley, 2005).186 Credit and Collections Best Practices ch07_4773.qxd 12/29/06 ... Installation time:Total Impact of BestPractices on the Commissions FunctionThis section describes the overall impact of bestpractices on the commissionsfunction. The bestpractices noted in this chapter ... Data 189ch08_4773.qxd 12/29/06 9:18 AM Page 189188 Commissions Best Practices Exhibit 8.1 Summary of Commissions BestPractices Best Practice Cost Install TimeCommission Calculations8–1 Automatically...
... 12/29/06 9:21 AM Page 241Chapter 10Filing Best Practices This chapter covers the bestpractices that can be used to create a more efficientfiling system for an accounting department. Though this may ... be.Implementation Issues for Filing Best Practices This section discusses the relative ease or difficulty of implementation of the best practices to be covered later in this chapter. Each best practice is noted ... 2003).ch11_4773.qxd 12/29/06 9:22 AM Page 252Implementation Issues for Finance BestPractices 245Exhibit 11.1 Summary of Finance BestPractices Best Practice Cost Install TimeFinancing and Investment Activities11–1...
... Statements Best Practices ch12_4773.qxd 12/29/06 9:24 AM Page 270Implementation Issues for Financial Statements BestPractices 267Exhibit 12.1 Summary of Financial Statements BestPractices Best ... 275ch12_4773.qxd 12/29/06 9:24 AM Page 275Chapter 12Financial Statements Best Practices This chapter covers the bestpractices that can be used to issue financial state-ments more rapidly. This ... process.Implementation Issues for Financial Statements Best Practices This section notes the relative level of implementation difficulty for all of the best practices that are discussed later in this chapter....
... of BestPractices on General Accounting FunctionsThis section covers the impact of the bestpractices described in this chapter onthe general administration of the accounting department. Accounting ... theinternal auditing best practices, followed by a discussion of individual best practices, each one being presented in a separate section. The chapter finishes with a review ofhow these bestpractices ... deal of confusion and a completefailure to implement any best practices. 350 General Ledger Best Practices Exhibit 14.2 Impact of BestPractices on the General Ledger Functionch14_4773.qxd 12/29/06...
... Installation time:Total Impact of BestPractices on the Internal Auditing FunctionMany of the bestpractices discussed in this chapter are noted in Exhibit 15.2,where bestpractices are clustered into ... inventory best practices, followed by a detailed discussion of each one, andends with notes on the impact of bestpractices on the inventory function.Implementation Issues for Inventory Best Practices This ... convinced of the efficacyof the change.3701Selected bestpractices in this chapter are adapted with permission from Steven M. Bragg, Inventory BestPractices (Wiley, 2004).ch16_4773.qxd 12/29/06...
... followed by adescription of each one.4141Selected bestpractices in this chapter were adapted with permission from Steven M. Bragg, Payroll BestPractices (Wiley, 2005).ch17_4773.qxd 12/29/06 ... implementation effort and thatImplementation Issues for Payroll BestPractices 415Exhibit 17.1 Summary of Payroll BestPractices Best Practice Cost Install TimeEmployee Deductions17–1 Disallow ... 405ch16_4773.qxd 12/29/06 9:33 AM Page 405Implementation Issues for Payroll Best Practices For the reader to understand which of these bestpractices is the right one for a spe-cific situation, it is useful...
... of training programs within the accounting department.Impacted best practices: •• Create accounting training teams•• Create an ongoing training program for all accounting personnel•• Create ... subsequent to the initial hiring process.Impacted best practices: •• Grant employees immediate 401(k) eligibility18–9 General Policies for BestPractices (Chapter 13)• The company supports a ... themselves, with no need for any data entry434 Payroll Best Practices ch17_4773.qxd 12/29/06 9:35 AM Page 43418–8 Finance Policies for BestPractices (Chapter 11)• The company shall periodically...
... Payable Best Practices c03.qxd 7/31/03 1:33 PM Page 36Chapter 2How to Use Best Practices This chapter is about implementing best practices. It begins by describing thevarious kinds of bestpractices ... possible to use all of these bestpractices together, sincesome are mutually exclusive—one must be careful in choosing the correct best practices. Lastly, a number of bestpractices focus on the overall ... for every best practice within it. The best practices are also noted in summary form in Appendix A.This third edition of BestPractices contains 60 new best practices. These areconcentrated in...