Accounting Best Practices, Fifth Edition

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 Practice	Cost	Install Time
Management
13–1	Consolidate all accounting functions
13–2	Continually review key process cycles
13–3	Create a policies and procedures manual
13–4	Eliminate all transaction backlogs
13–5	Implement ...