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CFO Techniques: A Hands-On Guide to Keeping Your Business Solvent and Successful by Marina Guzik

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Generally Accepted Fiscal Policies

Many risks and controls, traditionally associated with accounting functions and reliability of financial reporting, have been eradicated from our professional lives by computerized, integrated solutions. Software warns you if the entry is out of balance, it automatically prompts to the next invoice (or voucher, or check, or credit memo) number in the system, it advises if the entered account doesn’t exist, and so on.

There are no more dangers of one-sided bookkeeping mistakes or posting omissions. Even the least sophisticated application knows that an invoice generated as the result of a shipped order or performed ...

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