The Accounting Procedures Guidebook

11 Credits: Accounting


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The Accounting Procedures Guidebook

Course Level
CPE Credits

11 Credits: Accounting

Course Description

This course is an essential toolkit for any professional seeking to refine and enhance their business’s accounting procedures. It offers a detailed exploration of the processes required across various functional areas, including billing, cash receipts, accounts payable, and more. Participants will gain practical knowledge about order forms, credit reviews, shipping processes, and effective payroll management. Beyond the theoretical understanding, this course provides tangible benefits: participants will learn to minimize inefficiencies, reduce fraud risks, and decrease transaction errors, ultimately leading to a more streamlined and secure business operation. This course is a strategic investment for professionals aiming to bolster their accounting control systems and drive their business towards operational excellence.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Cite the situations in which procedures should or should not be employed, and the best procedure format to use. Also note the constituencies most interested in the development of procedures.

Chapter 2

  • Specify the uses of order forms and return merchandise authorizations, and the application of verification techniques in the order entry process flow.

Chapter 3

  • Identify the clauses and documents used in a credit review, as well as the triggering events for credit changes.

Chapter 4

  • Specify the documents required in the shipping process flow.

Chapter 5

  • Cite the flow of documents required to produce a customer invoice.

Chapter 6

  • Specify the uses to which a credit memo can be put, and the positions involved in the collection process.

Chapter 7

  • Identify the steps in the cash receipts process flow.

Chapter 8

  • State the authorizing documents used to order goods and services, as well as the steps in the purchasing process.

Chapter 9

  • Specify the control points in the analysis and processing of procurement card statements.

Chapter 10

  • Identify allowable items to include in an expense report and situations in which per diem payments are made.

Chapter 11

  • Recognize the situations in which the petty cash amount should be altered, and actions to take if a variance is found.

Chapter 12

  • Recognize the documents used to control the inflow of goods to a business, and the contents of inventory tags.

Chapter 13

  • Specify the reasons for using three-way matching and the variations on this concept to improve the processing of payables, as well as the use of adjustment letters.

Chapter 14

  • Identify the reasons for verifying count tags and the uses to which a cycle counting report can be put.

Chapter 15

  • State the differences between a timesheet and timecard and note the contents of an employee record. Also recognize the types of employee pay deductions.

Chapter 16

  • Cite the reasons for using a capital request form, the steps required to dispose of a fixed asset, and whether to engage in a post installation review.

Chapter 17

  • Identify how investable cash is calculated, the use of a cash concentration account, and when to distribute inter-company cash.

Chapter 18

  • Identify the situations in which subsidiary ledgers are closed, when approvals are needed before financial statements can be issued, and the approval process for EDGARizing financial statements.
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Course Specifics

Course ID
Revision Date
May 24, 2023

There are no prerequisites

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …