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Bramer, Retired Auditor CPA
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 the questions below are just as relevant today. You might also find the info FOUND HERE also helpful.
ACCOUNTING SYSTEM ESSENTIALS:
If you have Ministry Finance responsibilities, grade yourself via the following:
Strong OK Weak 1 Does our Accounting System provide timely information so decisions can be made? ____ ____ ____ 2 Does it give readers adequate and timely '"where are we" and "where have we been" Info ____ ____ ____ 3 Does it show trends or provide a means for comparison of where we are in relation to where we should be? ____ ____ ____ 4 Can the system be managed by the applicable staffer? ____ ____ ____ 5 Does it provide a means of financial internal control over recorded assets? ____ ____ ____ 6 Does it enhance accountability of all financial resources and obligations? ____ ____ ____ 7 Does it satisfy necessary record keeping for taxing authorities and internal and external auditing? ____ ____ ____ 8 Does it show where assets came from and where they went for a "Period of Time?" ____ ____ ____ 9 Especially in relationship to what was authorized (Budget)? ____ ____ ____ 10 Does it reflect the status of Assets, liabilities and Fund (SPFund) Balances at a certain "Point in Time?" ____ ____ ____ 11 For Ministries, does it clearly show you the status of both Restricted and Unrestricted Fund Balances at a certain "Point in Time?" ____ ____ ____ 12 Does it bespeak a financial message; does it articulate Ministry Finances to those who should know? ____ ____ ____
If you agree that matters above are "Weak", you should make the necessary corrections.
This Publication was rejuvenated in October 2000 and was further UPTD: March 09, 2012
HOME | ABOUT US | OUR PURPOSE | TABLE OF CONTENTS | COMPUTER FUND ACCTG | HELPS | GLOSSARY