Accounting System Essentials 0031-77 ZZall

Accounting System Essentials 0031-77 ZZall

- - - Rejoice in the Lord always ... again I say Rejoice !!! - - -

TO: Interested Ministries FROM: Jim Bramer, Retired CPA-Auditor
FILE: 0031-77/all

RE: Accounting System Essentials ORIGINATED: October 2000

    When you retire you should clean out the old files ..... throw things away, right !! Well, in this process I came across some 'stuff' that was shared in our November 1977 client bulletin. It seems that these questions are just as relevant today......

ACCOUNTING SYSTEM   ESSENTIALS:

    If you have Ministry Finance responsibilities, ask yourself:

Does our Accounting System provide timely information so decisions can be made?

Does it give readers adequate and timely ' (1) where are we and (2) where have we been" information?

Does it show trends or provide a means for comparison of where we are in relation to where we should be?

Can the system be managed by the applicable staffer?

Does it provide a means of financial internal control over recorded assets?

Does it enhance accountability of all financial resources and obligations?

Does it satisfy necessary record keeping for taxing authorities and internal and external auditing?

Does it show where assets came from and where they went for a "Period of Time?"

Especially in relationship to what was authorized (Budget)?

Does it reflect the status of Assets, liabilities and Fund (SPFund) Balances at a certain "Point in Time?"

For Ministries, does it clearly show you the status of both Restricted and Unrestricted Fund Balances at a certain "Point in Time?"

Does it bespeak a financial message; does it articulate Ministry Finances to those who should know?

   If any of the foregoing is answered in the negative, you should make the necessary corrections.

This Publication was rejuvenated in October 2000 and was further UPTD: June 13, 2008

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(1) An Online Document, or WRIT (Writing), may be applicable to all Ministries, or it may be designed for just groups like: Evangelical Church, School, Missionary Agency or Organization, Christian Camp / Conference, or other named group.
(2) WRIT formats include the perspective of Jim@bcidot.org via IOMs (Inter-Office Memos) to the Ministry Finance Team (MFTeam); THRDs, a hypothetical Online conversation with members of the MFTeam; GLEANINGS, or Scripture within context of the MFTeam; FWIW; A periodic editorial (For What it is Worth); TRUISM, or believed Ministry Finance principles; and via FAQ, response to Frequently Asked Questions