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Thought Leadership from the Leaders in Virtual Accounting and Bookkeeping Services
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25, January
2018

Outsourcing Accounting for Improved Accountability

Cash flow has a major impact on sustainability. Take a look at what happened in the early 2000s with the dot-coms, and again in the late-'00s and this current decade. Businesses with few liquid assets were unable to jump the hurdle of a contracting market. What happened to the dot-coms also hit the financial sector, and neither was prepared. Given the importance of cash flow, it makes sense to take an active role in managing assets and record-keeping. In-house management opens the door to a number of security issues, while separating areas of responsibility improves accountability at every level.

The Nuts and Bolts of Accountability

Some of the most basic strategies for improving accountability start by ensuring that the department taking in cash is not the department recording the transactions and reconciling the accounts. For example, if human resources handles payroll, they should not be tracking hours. If they have both jobs, they can issue checks for unworked hours. Over time, even small additions can add up to a considerable loss. When the same department is also responsible performing audits, there is no real accountability.

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23, August
2017

Expense Reporting and Management – How Can Automation Prove Beneficial?

Spreadsheets are versatile enough to manage almost all types of information, but they may not scale up when.

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1, August
2017

Dennis Najjar Joins LORMAN Faculty to Offer Educational Accounting Webinar to Professionals and Executives

AccountingDepartment.com is proud to announce that co-founder Dennis Najjar, CPA, CGMA has joined LORMAN as a.

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12, January
2017

5 Trends Driving Disruption in the Accounting Industry

Sweeping disruption of the accounting industry is imminent. Massive technological change and shifting consumer.

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8, December
2016

Top 5 Challenges of Travel and Expense Management

International expansions, business mobility and globalization contribute to increased travel expenses for many.
22, January
2016

How to Accurately Job Cost in an Agile Project Environment

Your business life is easier when you deal with projects in a waterfall methodology. You follow a linear course with.

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10 Signs Your Business Is Ready For Outsourced Accounting Services

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