Article Archives >> Behind the Numbers >> July 16-31, 2005
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BEHIND the NUMBERS
Perform a Mini-Assessment of Your Financial Department
By Eric Fraint, President
Your Part-Time Controller, LLC
Excerpt
Executive Directors and board members occasionally find that the
financial departments of their organizations have difficulty getting
their work done. Among the possible problems are late and inaccurate
financial reports, delayed invoicing on government contracts, difficulty
paying vendors on time, inability to plan for cash flow needs, inability
to prepare forecasts and other financial analyses, and many others.
These problems often result from the existence of other problems
such as inadequate training and skill levels of financial department
staff, inefficient policies and procedures, too few financial department
staff members, or too many, and perhaps inappropriate accounting
software or computer equipment. From our experience we have found
that organizations with some or most of these problems typically
have inadequate internal controls.
Article Archives >> Behind the Numbers >> July 16-31, 2005
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