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$245

Webcast
4
Intermediate
Auditing
Fundamental knowledge of internal controls and QuickBooks solutions

Course Description

The QuickBooks ecosystem of accounting tools remains the most widely-used set of accounting applications in use by small businesses, yet many of these organizations struggle because of inadequate internal controls. In this seminar, you will learn options for how you can improve internal controls in small businesses running QuickBooks Pro, Premier, Enterprise, or Online.

Through participating in this program, you will learn the importance of maintaining a strong system of internal controls in a small business environment, including businesses using QuickBooks accounting solutions. You will also learn about the four common types of internal controls and how to assess the relative condition of the internal control structure of a small business. With this background in place, the focus then shifts to discovering the opportunities to enhance controls in small businesses using QuickBooks.  In addition, you will learn about supplemental procedures for situations where effective controls cannot otherwise be established. In sum, while many believe that QuickBooks-based organizations are destined for weak internal control structures, by participating in this program you will learn how QuickBooks-based businesses can benefit from a strong system of internal controls.


MAJOR TOPICS COVERED

  • QuickBooks and the Fundamentals of Small Business Internal Controls
  • Implementing Effective Preventive Internal Controls in QuickBooks
  • Detecting Issues using Internal Controls
  • The Value of Compensating Controls in a QuickBooks Environment 



Instructor

K2 Enterprises (Thomas G. (Tommy) Stephens, Jr., CPA, CITP, CGMA)

Thomas G. Stephens, Jr., received a Bachelor of Science in Business Administration degree (Major in Accounting) from Auburn University in 1985. Upon graduation, Mr. Stephens began working for an Atlanta-based public accounting firm. After earning his designation as a Certified Public Accountant, Mr. Stephens worked for BellSouth Corporation in Atlanta as an Internal Auditor. After two years as an auditor, he was promoted to Staff Manager and then Operations Manager of the Internal Audit Group. In 1991, he transferred to the Comptrollers’ department of BellSouth and served as Manager of the Cost Accounting organization. While working full-time at BellSouth Corporation, Mr. Stephens also attended graduate school, earning a Masters of Science (Major in Finance) from Georgia State University in 1992. Mr. Stephens left BellSouth in 1994 and opened his public accounting practice in the metropolitan Atlanta area. In his practice, Mr. Stephens provides accounting, tax, and consulting services to individuals and a wide variety of small and emerging businesses. Additionally, in 1995 he began authoring and presenting continuing professional education courses to accounting and finance professionals. In 2003, Mr. Stephens affiliated with K2 Enterprises and in 2007 he joined the firm as a partner. To date, he has lectured nationally on subjects such as internal controls for small businesses, technology strategies, computer hardware and software applications, tax strategies and compliance, and financial accounting standards and applications. Over the past twenty-four years, Mr. Stephens has presented over 2,600 educational sessions to over 68,000 participants nationwide. Presently, Mr. Stephens resides in Woodstock, Georgia where, in addition to his association with K2 Enterprises, he provides consulting services to small businesses and CPA firms. In addition to an active professional career, Mr. Stephens enjoys an active personal life with his wife. His hobbies include snow skiing, fishing, and running. Additionally, Mr. Stephens maintains professional memberships with the American Institute of Certified Public Accountants and the Georgia Society of Certified Public Accountants and is a past member of the Institute of Internal Auditors.



Course Specifics

Auditing
Mar 23, 2020
Fundamental knowledge of internal controls and QuickBooks solutions
WC19206844
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon completing this session, you should be able to:

  • Identify the importance of internal controls in small businesses, including those running QuickBooks
  • List four common types of internal controls and provide examples of each
  • Assess the relative strength or weaknesses of a QuickBooks-based organization's internal control structure
  • Create and implement effective internal controls using tools and features found in various editions of QuickBooks



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