Implementing internal accounting controls in your business might sound like a complex and difficult topic, but the truth is that every business has some type of control already in place, whether it is simply reconciling the bank statement monthly, or reviewing a current profit and loss statement.
Accounting controls are an important part of your business's financial health. They are processes that can prevent and detect fraud or embezzlement, catch errors before they happen, and make your financial reports more accurate and accessible. Additionally, many procedures can be very simple to put into practice and can actually save time in the day-to-day work in your accounting system.
As your business grows, accounting controls allow you to step away from day-to-day oversight and see the bigger picture, with assurance that the financial information you receive is accurate.
Contact Osborne Rincon for a checkup of your accounting controls. Improvements to your system can be as simple as a few quick suggestions on procedures, or as complicated as setting up a whole new system and creating a company manual.
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