The Accounting Controls Guidebook(Not Available)

Author: Steven Bragg

CPE Credit:  15 hours for CPAs

A proper system of accounting controls can mean the difference between a reliable accounting operation that consistently processes business transactions and one that appears to be in a continual state of crisis. In The Accounting Controls Guidebook, we discuss the overall system of controls, the controls that can be installed for individual accounting processes, and controls for other systems that are peripherally related to accounting operations.

In Chapter 1, we discuss the accounting controls environment, including the nature of risk, control principles, and how to construct a system of controls. In Chapters 2 through 7, we cover the specific controls needed for the sales cycle, from the initial receipt of orders through credit granting, shipping, billing, collections, and the receipt of cash. This coverage includes an overview of each process, as well as the controls and policies needed for each one. In Chapters 8 through 13, we cover the specific controls needed for the procurement cycle, including purchasing, accounts payable, receiving, and several related topics. Again, this coverage includes an overview of each process, as well as the controls and policies needed for each one. In Chapters 14 through 17, we cover the same types of information for additional topics, including payroll, fixed assets, treasury, and financial reporting.

Designed For
The Accounting Controls Guidebook is designed for both professionals and students. Professionals can use it as a reference tool for creating and revising control systems, while it provides students with an overview of the entire system of controls.

Topics Covered

  • The accounting controls environment
  • Order entry controls
  • Credit controls
  • Shipping controls
  • Customer billing controls
  • Collection controls
  • Cash receipts controls
  • Purchasing 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

Learning Objectives

  • Explain how to design the right controls for a business and implement them, as well as the principles under which a system of controls should be operated.
  • Explain the system of controls for the order entry function.
  • Discuss the system of controls for the credit function.
  • Explain the system of controls for the shipping function.
  • Describe the system of controls for the customer billing function.
  • Demonstrate the system of controls for the accounts receivable collection function.
  • Discuss the system of controls for the receipt of cash.
  • Explain the system of controls for the purchasing function.
  • Describe the system of controls for the accounts payable function.
  • Discuss the system of controls for the expense report processing function.
  • Demonstrate the system of controls for the procurement card function.
  • Describe the system of controls for petty cash.
  • Explain the system of controls for the receiving function.
  • Discuss the system of controls for the payroll function.
  • Demonstrate the system of controls for the fixed asset function.
  • Explain the system of controls for the cash forecasting and funding-related aspects of the treasury function
  • Describe the types of controls needed for closing the books.

Level
Overview

Format
PDF materials

Instructional Method
Self-Study

NASBA Field of Study
Accounting (15 hours)

Program Prerequisites
None

Advance Preparation
None