Establishing a systematic set of procedures in a clothing store is necessary to prevent or minimize inventory losses, cash pilferage, unnecessary expenses and other problems that will cause your ...

Employee theft and fraud cost restaurants from 4 to 5 percent of annual sales revenues each year, according to the National Restaurant Association. Despite this, characteristics such as business size, ...

Internal controls are necessary to prevent mishandling of funds, safeguard against loss and protect employees from inappropriate charges by defining responsibilities in the cash handling process. The ...

In its most recent guidance for compliance with Sarbanes-Oxley section 404 requirements for smaller entities, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has provided ...

Effective cash control is crucial for businesses of all sizes, as it helps prevent theft, fraud, and errors while maintaining financial health. The Fast Company Executive Board is a private, fee-based ...

If you don't have time to do it right, when are you going to have time to do it over? Consistent performance increases the reliability of operating transactions. Accounting operations are considered ...

Today many companies recognize the desirability as well as the requirement to have an effective system of internal control. Yet, designing and implementing a cost-effective system of internal control ...