In today's complex business environment, the difference between a reliable accounting operation and one in perpetual crisis often hinges on the robustness of its accounting controls. Steven M. Bragg's Accounting Controls Guidebookaddresses this critical need, providing a comprehensive solution for enhancing accounting operations. Are you facing challenges in maintaining consistency and reliability in your accounting processes, or concerned about the potential for errors and fraud? This course covers a wide array of controls for individual accounting processes and related systems, from order entry and billing to payroll and cash forecasting. You'll gain invaluable insights into the best practices for installing effective controls, identifying areas of concern, and understanding the nuances of various functional areas of a business. Equipped with this knowledge, you can transform your accounting operations into a model of efficiency and reliability.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize situations in which controls can be avoided or must be installed, the nature of the best controls, and areas of concern.
Chapter 2
Specify the order entry process and examples of controls that can be inserted into the process.
Chapter 3
Identify the procedure steps and controls used to process customer requests for credit.
Chapter 4
State the controls used to deal with sales orders, drop shipments, back orders, and merchandise returns.
Chapter 5
Cite the controls used in the computerized and manual issuance of invoices to customers.
Chapter 6
Cite the controls that can be used to provide structure to the collections process.
Chapter 7
State the controls associated with the receipt, recordation, and deposit of cash and checks.
Chapter 8
Identify the different types of controls that can provide structure to the purchasing function.
Chapter 9
State the controls that can be assigned to supplier invoice recordation and payments.
Chapter 10
Specify the controls that can be inserted into the processing of employee expense reports.
Chapter 11
Identify the controls needed to provide a secure environment for the use of procurement cards.
Chapter 12
Specify the steps in the petty cash process flow, how petty cash can be replaced, and the controls that can be instituted for petty cash.
Chapter 13
State the controls used in the receiving area, as well as the proper treatment of customer-owned goods.
Chapter 14
Recognize the activities needed to create a proper payroll control environment, and the indicators of payroll fraud.
Chapter 15
Identify the controls used to monitor, value, and report on fixed assets.
Chapter 16
State the controls used for cash forecasting, funds transfers, stock issuances, and collateral monitoring.
Chapter 17
Cite the controls that can be integrated into the period-end closing process, construction of financial statements, and chart of accounts.
Chapter 18
Specify the controls that can be applied to acquisitions, gift cards, inventory recordation, and inventory valuation.
Major Topics
Accounting Controls Environment
Order Entry Controls
Credit Controls
Shipping Controls
Customer Billing Controls
Collection Controls
Cash Receipt Controls
Purchase Controls
Accounts payable Controls
Expense Report Controls
Procurement Card Controls
Petty Cash Controls
Receiving Controls
Payroll Controls
Fixed Asset Controls
Treasury Controls
Financial Reporting Controls
Other Controls
