A well-organized chart of accounts supports robust responsibility reporting, makes it easy to answer "what if?" questions and helps eliminate data entry errors. However, many organizations cling to the primitive practices of a half-century ago that impose barriers to developing budgets, holding people accountable, gathering useful data and keeping errors from creeping into their financial statements.
Best practices today look little like the examples you may have seen in business school. If you sense that your general ledger could do far more, this session will show you how to fix your problems
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event. Highlights
Current Chart of Accounts Best Practices
Why developing a chart of accounts begins with studying your organizational chart
How to identify your account segments
Determining the order of your account segments
Best practices for numbering account bases
How to avoid memorization
Fixing Your Current Chart of Accounts
How big company and small company software differs
Two key approaches for preserving your historical data
What to know when making major chart of accounts changes
Registration
PICPA Member: $49 Nonmember: $74
More Information
Course No.
EEJDFCA1
Level:
Intermediate
Prerequisites:
Some real work experience working with General Ledger Systems
Speaker(s)
John Daly
Executive Education Inc
John L. Daly, CPA, CMA, CPIM
Executive Education/Chelsea, Michigan
John Daly holds a BS from Denison University in Granville, Ohio and an MBA from the University of Michigan. He spent five years in Management Consulting with two national accounting and consulting firms before becoming Controller and then Vice President of Finance of an original equipment automotive parts manufacturer that saw six fold sales growth during his ten-year tenure. He has also been Chief Financial Officer of several other manufacturing companies and a large restaurant chain. He is the author of Pricing for Profitability: Activity-Based Pricing for Competitive Advantage published by John C. Wiley & Sons, and various professional articles.
Mr. Daly currently has a management consulting practice that specializes in early-stage turnarounds and pricing strategy. He also performs interim CFO engagements and sits on the boards of several for-profit and not-for-profit organizations.