Fixing Your Chart of Accounts

A well-organized chart of accounts supports robust responsibility reporting, makes it easy to answer "what if?" questions and helps eliminate data ...

6/27/2022 9:00am - 10:00am  |  Online  |  CPA Crossings

$49.00

CPE Categories: Accounting (1 CPE)

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Description

A well-organized chart of accounts supports robust responsibility reporting, makes it easy to answer "what if?" questions and helps eliminate data entry errors. However, many organizations cling to the primitive practices of a half-century ago that impose barriers to developing budgets, holding people accountable, gathering useful data and keeping errors from creeping into their financial statements. Best practices today look little like the examples you may have seen in business school. If you sense that your general ledger could do far more, this session will show you how to fix your problems This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Presented by Executive Education, Inc

Instructor: John L. Daly, MBA, CPA, CMA, CPIM

Target Audience

Anyone with responsibility for a General Ledger System

Course Objectives

Understand current chart of accounts best practices and how to fix the current mess that you may have.  

Subjects

Current Chart of Accounts Best Practices

  • Why developing a chart of accounts begins with studying your organizational chart
  • How to identify your account segments
  • Determining the order of your account segments
  • Best practices for numbering account bases
  • How to avoid memorization

Fixing Your Current Chart of Accounts

  • How big company and small company software differs
  • Two key approaches for preserving your historical data
  • What to know when making major chart of accounts changes





Prerequisites

Some real work experience working with General Ledger Systems