The Importance of Internal Controls

Everybody needs money. Some have enough, some have enough and want more, some do not have enough, some do not have enough and will take shortcut to get more.

Every organization have assets to utilize and protect.

Every organization has cash flow to use effectively and to protect.

All of these are reasons to design, implement and operate an effective set of internal controls.

Other assets need protection as well.

Experts estimate US annual losses to employee theft, including embezzlement,  at $400B, that is Billion.

 

Why Quality Bookkeeping is Important

 

Bookkeeping. Boring, right?

Right. 

Critical, right?

Yes it is.

Bookkeeping, the capture, recording and summation of transactions, is critical to the health of your business.

Critical to accurate financial statements.

Critical to useful analytics.

Critical to accurate tax returns.

Critical to keep accounting fees at a reasonable level.

Critical component of internal controls.

More discussion to follow. 

Cheap bookkeeping can be very expensive.