John Burson 
edited Wednesday, July 26, 2017

The accounts receivable policy manual and the associated accounting practices are projected to gratify the required documentation from an accounting management system. 

Your accounting policies and procedures offer you

  • Assistance in present financial activities
  • A basis for a system of accounting internal controls
  • Standards for decision on proper accounting handling
  • It also provides accounting officers with information and direction in association with accounting dealings, reports and procedures that should even all over the company.

The fiscal statement issued by your business will perfectly mirror the results of company’s operations when the accounting policy and procedure manuals are regularly applied.

Accounting Controls

They give a system of balances and checks projected to pinpoint indiscretions, avoid waste, scam, and misuse from happening. It also helps in solving inconsistencies that are introduced unintentionally in the operations of the business. Pinpointing any extra documents necessary in guaranteeing the effective planning, operation, and control of all fiscal processes is the obligation of the department directors and administrators.

The entire policies and procedures should imitate to the policies in your accounting policy manual. All modifications to the policies and procedures should be gone through to make sure there are no clashes with the policies stated in your accounting receivable policy manual.

Accounting Administration Duty

As part of the overall obligation for company accounting policy allocated to the office of the controller, the accounting manual is printed and preserved; it is an official directive of the company’s CFO.  For businesses that don’t have a controller, the task falls within CFO duties or the company’s head.

Accounting Management Team

The top management of your company should show its pledge to the accounting management system by establishing and putting into practice the accounting manual. Pledge to the accounting manual can also be through the company policy, the particular goals that are agreed and revised during management review meetings and also by providing the efficiency of your operations and accounting systems.

The responsibility to make sure that the accounting management system meets the customers, as well as the legal and regulatory requirements, are the obligations of the management team which includes the presidents and the entire departmental managers.


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Accounting Policies