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Accounting Best Practices, Fifth Edition by Steven M. Bragg Englewood, Colorado

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Implementation Issues for General Best Practices

This section covers the general level of implementation difficulty that will arise when installing the best practices discussed later in this chapter. This information is primarily contained in Exhibit 13.1, which shows the cost and duration of implementing each best practice.

Exhibit 13.1. Summary of General Best Practices
 Best PracticeCostInstall Time
Management
13–1Consolidate all accounting functions
13–2Continually review key process cycles

13–3Create a policies and procedures manual
13–4Eliminate all transaction backlogs
13–5Implement ...

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