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Accounting Best Practices, 5th ed.


Accounting Best Practices (Fifth Edition) by Steven M. Bragg, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000.  John Wiley John Wiley may refer to:
  • John Wiley & Sons, publishing company
  • John C. Wiley, American ambassador
  • John D. Wiley, Chancellor of the University of Wisconsin-Madison
  • John M. Wiley (1846–1912), U.S.
 & Sons Inc., 2007, 490 pp.

Steven M. Bragg is back with new and enhanced tips designed to improve the efficiency of business accounting departments. Bragg, a prolific author and former CFO See Chief Financial Officer.  and controller, has penned the fifth edition of his accounting best practices guide.

New features include a chapter on accounting management, revisions to sections on payroll and financial statements and tips on how to avoid missed billing. Still present are exhibits included in each chapter that rate best practices in two key' categories: how much money and how much time it will take to implement each best practice. Bragg also flags his favorites Another term for bookmarks, which was popularized by Microsoft's Internet Explorer browser. See favicon and Internet Explorer.  for closer review. Offerings range from financial statement best practices to suggestions on internal auditing and credit and collections tips.

Bragg frames the book as a practical, do-it-yourself resource for the manager "who likes to tinker with the accounting department." He highlights four opportunities that offer the most fertile fer·tile
adj.
1. Capable of conceiving and bearing young.

2. Fertilized. Used of an ovum.
 ground for "installing" best practices:

* If benchmarking shows a problem.

* If management has a change orientation.

* If the company is experiencing poor financial results.

* If a business is under new management.

The book closes with a checklist detailing policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental  to consider incorporating into a policy manual to support many of the best practices offered in earlier chapters.
COPYRIGHT 2007 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

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Author:Nilsen, Kim
Publication:Journal of Accountancy
Article Type:Brief article
Date:Aug 1, 2007
Words:224
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