Accounting Best Practices, Fifth Edition

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 Practice	Cost	Install Time
Chart of Accounts
14–1	Eliminate small-balance accounts
14–2	Modify account code structure for storage of ABC information
14–3	Reduce the chart of accounts
14–4	Use identical chart of accounts for subsidiaries
Data Warehousing
14–5	Use data warehouse for report distribution