In a Sarbanes-Oxley world that combats some of the practices that created financial abuses in a number of major corporations the small business, both public and private, due to its nature may be even more susceptible to such financial abuses. However, without effective financial and operating controls, many of these abuses go undetected. This book outlines the development of an effective control system for the small business that is cost effective and enhances operations and resultant profitability. With all the fuss about Sarbanes-Oxley and the large publicly held entity, it is the non-regulated small business and its need for controls that has been neglected. The tentative contents is: (1) Understanding the Small Business Environment; (2) Introduction to the Internal Control Environment; (3) Operational Control Considerations; (4) Sales Function Controls; (5) Direct Cost Controls; (6) Accounting Function Controls; (7) Reporting Control Considerations; Afterword; Appendices: (A) Computer Processing: IT Control Considerations, (B) Specialized Industry: Not-for-Profit Control Considerations, and (c) Controls by Type of Business.
Book Details:
- Author: Rob Reider
- ISBN: 9780470222768
- Year Published: 2008
- Pages: 416
- BISAC: BUS001040, BUSINESS & ECONOMICS/Accounting / Managerial
About the Book and Topic:
In a Sarbanes-Oxley world that combats some of the practices that created financial abuses in a number of major corporations the small business, both public and private, due to its nature may be even more susceptible to such financial abuses. However, without effective financial and operating controls, many of these abuses go undetected. This book outlines the development of an effective control system for the small business that is cost effective and enhances operations and resultant profitability. With all the fuss about Sarbanes-Oxley and the large publicly held entity, it is the non-regulated small business and its need for controls that has been neglected. The tentative contents is: (1) Understanding the Small Business Environment; (2) Introduction to the Internal Control Environment; (3) Operational Control Considerations; (4) Sales Function Controls; (5) Direct Cost Controls; (6) Accounting Function Controls; (7) Reporting Control Considerations; Afterword; Appendices: (A) Computer Processing: IT Control Considerations, (B) Specialized Industry: Not-for-Profit Control Considerations, and (c) Controls by Type of Business.
The purpose of this book is to identify the need and scope of effective internal controls to ensure profitable and successful small business operations. The focus of the book is to relate the necessity of internal controls to the small business as to how it operates in todays competitive environment with large national and other small businesses. It explains the use of internal controls as a helping system, turning a traditional non-value added cost into a profit center. In addition, this book addresses the manner in which to provide helpful effective internal controlsfor both internal and external advisorsin a value added manner using best practices. It is intended to be a how to guide for the implementation and evaluation of effective controls for the non-regulated small businesses.
Small business needs are changing: In today’s many-faceted and multi-disciplined economic environment, small business ($10-$100 million) management must place greater emphasis on increasing results with less resources through the evaluation of the economy, efficiency, and effectiveness of the organization’s operations. Internal controls while historically focused on evaluating compliance to policies and proceduresboth formal and informaland internal accounting and control procedures, when broadened to include all operating activities are becoming the tools to ensure such results. The small business owner needs to understand how to effectively use such controls as operational enhancements rather than costly compliance retardants that get in the way of efficient operations. However, many times, the small business owner sees the use of internal controls as a cost center rather than a profit center. This book will show the owners and their staff how to develop and implement internal controls with the least cost possible, in the most efficient manner, to achieve desired results. Areas to be covered: How the small business operates and the barriers to implementing effective internal control procedures; Implementing value added internal control procedures to help the small business become more economical, efficient, and effective in its operations; Using internal control best practices and techniques to decrease costs and increase revenues, resulting in maximizing real profits; Transforming non-value added costs to real profit contribution through the use of small business internal controls; Strengthening operational performance throughout the business through an internal control perspective; and Identifying necessary internal controls not only related to accounting procedures but also to each and every operating function.
About the Author
Rob Reider, CPA, MBA, Ph.D. (Santa Fe, NM) is the President of Reider Associates, a management and organizational consulting firm. His area of expertise encompasses planning, managerial, and administrative systems and methods; data processing; financial and accounting procedures and controls; organizational behavior and theory; management advisory services; management information and control techniques; management training; and staff development. Prior to founding Reider Associates, he was a manager in the Management Consulting Group of Peat, Marwick, Mitchell Co. He is the course author as well as seminar leader of over 20 workshops conducted nationally. In addition, he is a frequent commentator on the monthly educational videotape programs produced by Primedia Workplace Learning, such as The CPA Report, Governmental A&A Specialist, and the Accounting and Financial Managers Report.