Accounting Policies and Procedures Manual: A Blueprint for Running an Effective and Efficient Department

Now in a fifth edition, Accounting Policies and Procedures Manual: A Blueprint for Running an Effective and Efficient Department is a how-to guide on creating an effective and efficient accounting department policies and procedures manual. Written by Steven Bragg, the foremost authority in accounting and controllership issues, the new edition includes: A new, complimentary Web site providing readers with the foundation for creating or enhancing their accounting department policies and procedures manual More coverage of accounting procedures including inventory, billing, cash receipts, pricing, order entry, credit, collections, sales returns, capital budgeting, cash forecasting, payroll, and closing the books Accounting Policies and Procedures Manual is the tool every accounting department needs to regularize and systematize its procedures to match the best in the industry.

Table of Contents:
Preface xiii Acknowledgments xv About the Author xvii About the Web Site xix Chapter 1 Accounting Manuals 1 1.1 Introduction 1 1.2 General Accounting Manual 2 1.3 Corporate Policies Manual 3 1.4 Accounting Procedures 4 1.5 Purchasing Card Manual 5 1.6 Accounting Controls Manual 5 1.7 Year-End Manual 5 1.8 Budgeting Manual 5 1.9 Property Accounting Manual 6 1.10 Forms Manual 6 1.11 Document Management Manual 6 1.12 User Manual 7 1.13 Information Technology Manual 7 1.14 Human Resources Manual 8 1.15 ISO 9000 Quality Standards 8 1.16 In The Beginning 10 1.17 Procedures to Write and Change Procedures 13 Chapter 2 General Accounting Manual 16 2.1 Introduction 16 2.2 Charts of Accounts 17 2.3 Accounting Term Definitions 23 2.4 Job Descriptions 31 2.5 Activities Calendar 36 2.6 Accounting Policies 36 2.7 Process Cycle Descriptions 40 2.8 Accounting Procedures 51 Chapter 3 Procedure Statements 52 3.1 Introduction 52 3.2 Writing Style 52 3.3 Writing Mechanics 56 3.4 Flowcharting for a Procedures Manual 58 3.5 Format of The Procedure 73 3.6 Work Steps for Constructing a Procedures Manual 77 3.7 Suggested List of Procedures 81 3.8 Other Uses for Procedures Manuals 86 Chapter 4 Maintaining and Distributing Accounting Manuals 88 4.1 Introduction 88 4.2 Maintaining Accounting Manuals 89 4.3 Responsibility for Maintenance of Manuals 93 4.4 Physical Construction of The Manual’s Binder 96 4.5 Creation and Storage of The Master Manual Copy 98 4.6 Creation and Maintenance of The Distribution Mailing List 100 4.7 Physical Distribution Process 100 4.8 Issuances to New Employees 102 4.9 Manual Retrieval 102 4.10 Benefits of Using Electronic Manuals 103 4.11 Disadvantages of Using Electronic Manuals 105 4.12 Basic Electronic Manual 106 4.13 Accounting Manual on an Intranet, Extranet, or the Internet 107 4.14 Electronic Manual with Embedded Hypertext 107 4.15 Electronic Manual with Advanced Indexing Features 110 4.16 Electronic Manual with Built-in Help Information 111 4.17 Electronic Manual with Built-in Tutorials 114 4.18 Writing Tips for Electronic Manuals 114 4.19 Example of Comprehensive Electronic Manual Features 116 4.20 Using the PDF Format for Electronic Files 116 4.21 Maintaining an Electronic Manual 118 Chapter 5 Corporate Policies Manual 120 5.1 Introduction 120 Chapter 6 Accounting Procedures 147 6.1 Introduction 147 Chapter 7 Purchasing Card Manual 307 7.1 Introduction 307 Chapter 8 Accounting Controls Manual 324 8.1 Introduction 324 8.2 Basic Order Entry Controls 325 8.3 Computerized Order Entry Controls 325 8.4 Electronic Order Entry Controls 326 8.5 Basic Credit Granting Controls 326 8.6 Computerized Credit Granting Controls 327 8.7 Basic Purchasing Controls 328 8.8 Basic Inventory Procurement Controls 329 8.9 Computerized Purchasing Controls 330 8.10 Procurement Card Controls 331 8.11 Goods in Transit Controls 332 8.12 Manual Receiving Controls 332 8.13 Computerised Receiving System Controls 333 8.14 Receiving—Evaluated Receipts Controls 333 8.15 Manual Accounts Payable Controls 334 8.16 Computerized Accounts Payable Controls 335 8.17 Manual Cash Disbursement Controls 336 8.18 Computerized Cash Disbursement Controls 337 8.19 Electronic Payment Controls 337 8.20 Basic Inventory Storage/Movement Controls 338 8.21 Basic Perpetual Inventory Tracking Controls 339 8.22 Computerized Perpetual Inventory Tracking Controls 339 8.23 Inventory Bar Code Scanning Controls 340 8.24 Inventory Zone Putaway and Picking Controls 340 8.25 Inventory Pick-to-Light Controls 341 8.26 Inventory Cross-Docking Controls 341 8.27 Inventory Valuation Controls 341 8.28 Obsolete Inventory Controls 342 8.29 Manufacturing Resources Planning Controls 343 8.30 Just-in-Time Manufacturing Controls 344 8.31 Basic Shipping Controls 344 8.32 Drop Shipping Controls 345 8.33 Shippings—Evaluated Receipts Controls 345 8.34 Basic Billing System Controls 346 8.35 Computerized Billing System Controls 347 8.36 Advanced Billing System Controls 347 8.37 Credit Memo Controls 348 8.38 Basic Cash Receipt Controls 349 8.39 Basic Check Handling Controls 350 8.40 Computerized Check Handling Controls 351 8.41 Credit Card Receipt Controls 351 8.42 Lockbox Receipt Controls 351 8.43 Petty Cash Controls 352 8.44 Investment Controls 352 8.45 Basic Payroll System Controls 353 8.46 Computerized Timekeeping Controls 355 8.47 Computerized Payroll System Controls 356 8.48 Payroll Self-Service Controls 356 8.49 Cash Payroll Payment Controls 357 8.50 Electronic Payroll Payment Controls 357 8.51 Electronic Payroll Remittance Controls 358 8.52 Outsourced Payroll Controls 358 8.53 Fixed Asset Controls 358 Chapter 9 Period-End Manual 361 9.1 Introduction 361 9.2 Period-End Manual 361 9.3 Closing Procedure by Position 369 9.4 Soft Close 370 9.5 Year-End Close 376 9.6 New Year Startup 386 Chapter 10 Budget Manual 389 10.1 Introduction 389 10.2 System of Interlocking Budgets 389 10.3 Sample Budget 397 10.4 Flex Budget 413 10.5 Budgeting Process 414 10.6 Budgetary Control Systems 420 Chapter 11 Property Accounting Manual 422 11.1 Introduction 420 11.2 Project Cost Report 423 11.3 Record Keeping for Land Projects 423 11.4 Record Keeping for Land Improvement Projects 424 11.5 Record Keeping for Building Projects 424 11.6 Record Keeping for Factory Equipment Projects 425 11.7 Record Keeping for Office Equipment Projects 425 11.8 Record Keeping for Vehicles 426 11.9 Record Keeping for Leasehold Improvements 426 11.10 Record Keeping for Leases 427 11.11 Sample Property Accounting Manual 427 Chapter 12 Forms Manual 463 12.1 Introduction 463 12.2 Identify Needed Forms 463 12.3 Rules for Form Creation 465 12.4 Creating the Forms Manual 469 12.5 Electronic Forms 474 Chapter 13 Document Management Manual 475 13.1 Introduction 475 Chapter 14 User Manual 493 14.1 Introduction 493 14.2 Starting the Manual 494 14.3 Outlining and Updating the User Manual 495 14.4 Sample User Manual 495 Index 513

About the Author :
Steven Bragg, CPA, CMA, CIA, CPIM, has been the chief financial officer or controller of four companies, as well as a consulting manger at Ernst & Young and auditor at Deloitte & Touche. He received a Master's degree in Finance from Bentley College, an MBA from Babson College, and a Bachelor's degree in Economics from the University of Maine. He has been the two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written the following books through John Wiley & Sons: Accounting and Fiance for Your Small Business Accounting Best Practices Accounting Control Best Practices Accounting Reference Desktop Billing and Collection Best Practices Business Ratios and Formulas Controller's Guide to Costing Controller's Guide to Planning and Controlling Operations Controller's Guide: Roles and Responsibilities for the New Controller Controllership Cost Accounting Design and Maintenance of Accounting Manuals Essentials of Payroll Fast Close Financial Analysis GAAP Guide GAAP Policies and Procedures Manual Inventor Accounting Inventor Best Practices Just-in-Time Accounting Management Accounting Vest Practices Managing Explosive Corporate Growth Outsourcing Payroll Accounting Payroll Best Practices Revenue Recognition Sales and Operations for Your Small Business The Controller's Function The New CFO Financial Leadership Manual the Ultimate Accountants' Reference Throughput Accounting Also : Advanced Accounting Systems (Institute of Internal Auditors) Run the Rockies (CMC Press)