Industries | Non-Profits | Accounting Systems
Building a Comprehensive Accounting System
A comprehensive accounting system is an essential element in ensuring financial accountability and should serve to:
- Identify and record all transactions
- Record transactions quickly and accurately
- Record transactions in the proper period
- Present transactions and disclosures properly in the financial statements
One common misconception is that a computer system is an accounting system. It is important to understand that accounting software is only a means to process data and does not necessarily ensure that all the above objectives are met. A breakdown in the financial reporting system often occurs when the system and flow of transactions through the organization is not organized in an orderly and efficient way, and those individuals assigned to the varying tasks may not have been properly trained.
By creating and documenting an efficient financial accounting procedures plan, your organization can avoid a breakdown or failure in your accounting processes and financial reporting. Wegner CPAs can guide you in implementing a comprehensive financial accounting procedures plan, including:
- Developing an accounting policies and procedures manual
- Accounting software consulting
- Expert advice to your questions
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Specializing in performing financial statement and compliance audits for a variety of organizations.
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Going far beyond the standard accounting and tax services, our CPAs specialize in several industry areas and are in tune with the opportunities and challenges faced by each.
We are committed to providing you with the tools you need to make sound decisions every day. Check out our extensive mix of educational resources, and please contact us should you need any help finding the answers to your questions.