Inventory Accounting: A Comprehensive Guide

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Dramatically improve inventory accuracy with bestselling authorSteven Bragg's step-by-step guidelines

Inventory Accounting is a comprehensive, step-by-step guide tosetting up an inventory accounting system and keeping it running atmaximum efficiency. This hands-on book provides accountingprofessionals with essential information on how to:
* Set up an accounting system that efficiently handles accumulatinginventory costs, summarizing accounts, and standard journal entriesused to record transactions
* Use best practices to increase the efficiency ofinventory-tracking and costing functions
* Install unique controls to combat inventory fraud
* Implement a step-by-step checklist of activities for inventorycounting procedures
* Save hours of valuable time researching various GAAP referencemanuals
* Adapt inventory tracking and costing systems to accommodate avariety of manufacturing systems

Spanning the entire spectrum of inventory accounting, InventoryAccounting deftly explores every facet of the field to helpprofessionals eliminate inaccuracies from their inventoryaccounting systems.
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About the author

Steven M. Bragg, CPA, CMA, CIA, CPIM, has been the CFO orcontroller of four companies, as well as a consulting manager atErnst & Young and auditor at Deloitte & Touche. He receiveda master's degree from Bentley College, an MBA from Babson College,and a bachelor's degree in economics from The University of Maine.Mr. Bragg resides in Centennial, Colorado. He has written twentybooks, including Accounting Best Practices, Accounting ReferenceDesktop, and Controllership: The Work of the Managerial Accountant,all published by Wiley.
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Additional Information

Publisher
John Wiley & Sons
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Published on
Mar 18, 2005
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Pages
320
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ISBN
9780471718727
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Best For
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Language
English
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Genres
Business & Economics / Accounting / Managerial
Business & Economics / General
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Content Protection
This content is DRM protected.
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Accounting Control Best Practices,
Second Edition

Control systems are needed to ensure that a company's assets are used in the most productive manner and that they are not lost through fraudulent activities. However, an excessive use of controls can interfere with the efficient completion of activities within a company. Whether your company is in start-up mode, installing new systems, or simply dissatisfied with existing controls due to fraudulent losses, Accounting Control Best Practices, Second Edition is the reference handbook every accountant and systems analyst can use to ensure that their company has constructed a durable and efficient set of controls.

This easy-to-use handbook clearly explains how to develop an effective system of accounting and operational controls and offers the best practices with pragmatic insights and proactive strategies to protect organizations from suffering further substantial losses of assets and reputation that occur from financial dishonesty within an organization.

Author and renowned accounting expert Steven Bragg provides control flowcharts in every chapter for all major processes as well as a thorough set of corporate policies designed to support the system of controls. Now containing chapters on budgeting, collections, and acquisition integration, this valuable reference handbook offers essential information on control best practices for:Order entry, credit, and shipmentInventory managementBillingCash-handlingPayrollFixed assetsBudgetingFinancial reportingJust-in-time manufacturingPetty cashAnd many more

Encompassing all of the major accounting and operational processes with nearly 500 controls presented in basic, intermediate, and advanced layers, from those needed for a very basic paper-based system, to computerized systems, to the use of advanced best practice enhancements in computerized systems, Accounting Control Best Practices, Second Edition is the only guidebook needed to devise a set of controls precisely tailored to every company's system.

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