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

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Implementation Issues for General Ledger Best Practices

This section describes the general level of implementation difficulty for all of the best practices discussed in this chapter. Two levels of implementation difficulty are covered in Exhibit 14.1, which shows the general level of cost and duration to implement each best practice.

Exhibit 14.1. Summary of General Ledger Best Practices
 Best PracticeCostInstall Time
Chart of Accounts
14–1Eliminate small-balance accounts

14–2Modify account code structure for storage of ABC information

14–3Reduce the chart of accounts

14–4Use identical chart of accounts for subsidiaries
Data Warehousing
14–5Use data warehouse for report distribution

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