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Course Details

The Lean Accounting Guidebook - How to Create a World-Class Accounting Department - Third Edition (Course Id 1186)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 14.0
IRS Credits : 0
Price : $117.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1186

Description :

The Lean Accounting Guidebook reveals how to streamline the accounting department with over 150 improvement tips for billing, collections, cost accounting, fixed assets, payables, payroll, and more.

Usage Rank : 0
Release : 2017
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 09-Mar-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1186

Keywords : Accounting, Lean, Accounting, Guidebook, How, Create, WorldClass, Accounting, Department, Third Edition, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    Cite the tools used to create a lean accounting system.
    Identify the techniques used to reduce billing problems.
    Note the steps in the processing of cash receipts.
    Cite the techniques used to streamline the processing of payables.
    Note the methods available for creating a leaner payroll process flow.
    Recognize the revisions used to accelerate the closing process.
    Cite the types of protections available for mitigating credit losses.
    Recognize the tools used to manage the collections function.
    Note the methods used to increase inventory record accuracy.
    State the types of traditional cost accounting reports, and the situations in which these reports can be used or avoided.
    Recognize the characteristics of lean production environments, pull systems, and bottleneck-focused systems.
    Note the situations in which work-in-process tracking is not required.
    Cite the effects of interest capitalization and the capitalization limit on fixed asset recordation.
    State the effects of an acquisition on the general ledger.
    Recognize the arguments favoring a reduction in the number of general ledger accounts.
    Recognize the methods used to streamline and verify the budget model.
    Cite the situations in which separation of duties is needed.
    Describe how the outlier analysis concept can be used.
    Recognize how controls can fail in special situations, such as during acquisitions, employee turnover, and rapid growth.
    Note the techniques available for minimizing employee movement within the accounting department.
    Recognize the available solutions for minimizing record mis-filings and locating missing records.
    Identify the situations in which weak controls are acceptable.

Chapter 1
Overview of Lean Accounting

Cite the tools used to create a lean accounting system.

Chapter 2
Lean Customer Billing

Identify the techniques used to reduce billing problems.

Chapter 3
Lean Cash Receipts

Note the steps in the processing of cash receipts.

Chapter 4
Lean Accounts Payable

Cite the techniques used to streamline the processing of payables.

Chapter 5
Lean Payroll

Note the methods available for creating a leaner payroll process flow.

Chapter 6
Lean Financial Statements

Recognize the revisions used to accelerate the closing process.

Chapter 7
Lean Credit Management

Cite the types of protections available for mitigating credit losses.

Chapter 8
Lean Collections

Recognize the tools used to manage the collections function.

Chapter 9
Lean Inventory Accounting

Note the methods used to increase inventory record accuracy.

Chapter 10
Lean Cost Accounting

State the types of traditional cost accounting reports, and the situations in which these reports can be used or avoided.
Recognize the characteristics of lean production environments, pull systems, and bottleneck-focused systems.
Note the situations in which work-in-process tracking is not required.

Chapter 11
Lean Fixed Asset Accounting

Cite the effects of interest capitalization and the capitalization limit on fixed asset recordation.

Chapter 12
The Lean General Ledger Environment

State the effects of an acquisition on the general ledger.

Chapter 13
Lean Budgeting

State the effects of an acquisition on the general ledger.
Recognize the arguments favoring a reduction in the number of general ledger accounts.

Chapter 14
Lean Filing

Note the techniques available for minimizing employee movement within the accounting department.
Recognize the available solutions for minimizing record mis-filings and locating missing records.

Chapter 15
Lean Controls and Procedures

Identify the situations in which weak controls are acceptable.
Cite the situations in which separation of duties is needed.
Describe how the outlier analysis concept can be used.
Recognize how controls can fail in special situations, such as during acquisitions, employee turnover, and rapid growth.
Course Contents :

Chapter 1 - Overview of Lean Accounting

The Definition of Lean

Issues that Interfere with a Lean Department

Lean Tools

Value Stream Mapping

Flowcharts

Accounting Run Charts

Check Sheets

Traffic Analysis

Root Cause Analysis

The Lean Culture

A Note of Caution

The Failure of Lean Initiatives

The Structure of this Book

Chapter 2 - Lean Customer Billing

Improvement Concepts

Billing Processing

Billing Processing

Analysis of Billing Processing

Lean Billing Processing

Evaluated Receipts System

Payment in Advance

Systems Integration

Buffer Staff

Invoice Layout Improvement

Complex Invoice Separation

Invoice Proofreading

On-line Invoice Entry

Invoice Creation at Delivery Point

Invoice Creation at Shipping Dock

General: Pricing Simplification

Practices to Avoid

Analysis of Lean Billing Processing

Additional Improvement Concepts

Billing Measurements

Chapter 3 - Lean Cash Receipts

Improvement Concepts

Check Receipts Processing, Basic Process

Check Receipts Process

Analysis of Check Receipts Process

Lean Check Receipts Processing (with Lockbox)

Bank Lockbox

Automatic Cash Application

Analysis of Lean Check Receipts Process (with Lockbox)

Lean Check Receipts Processing (without Lockbox)

Apply from Check Copies

Remote Deposit Capture

Conduct Daily Bank Reconciliation

Analysis of Lean Check Receipts Process (No Lockbox)

Cash Receipts Processing

Cash Receipts Process

Analysis of Cash Receipts Process

Lean Cash Receipts Processing

Credit Card Receipts Processing

Credit Card Receipts Process

Analysis of Credit Card Receipts Process

Lean Credit Card Receipts Processing

Enter Information in On-line Form Immediately

On-line Payment Apps

Analysis of Lean Credit Card Receipts Process

Cash Receipts Measurements

Chapter 4 - Lean Accounts Payable

Improvement Concepts

Supplier Invoice Processing

Supplier Invoice Processing

Analysis of Supplier Invoice Processing

Lean Supplier Invoice Processing Complete Replacement

Evaluated Receipts Processing

Pay from Receipt

Analysis of Lean Supplier Invoice Processing

Lean Supplier Invoice Processing Incremental Improvement

Procurement Cards

Supplier Entry of Invoices

Direct Invoice Delivery

Invoice Numbering Convention

Incoming Invoice Scans

Request Aggregated Invoice

Approval Minimization

Expense Report Auditing

Expense Report Outsourcing

Form W-9 Requirement

General: Centralize Accounts Payable

General: Supplier Reduction

General: Vendor Master File Examination

General: Supplier Naming Convention

Practices to Avoid

Analysis of Lean Supplier Invoice Processing

Check Payment Processing

Check Payment Processing

Analysis of Check Payment Processing

Supplier Payment Processing, Lean Approach

Recurring Payment Automation

Manual Check Reduction

Signature Stamp or Plate

ACH Payments

Practices to Avoid

Analysis of Lean Supplier Payments Processing

Additional Improvement Concepts

Accounts Payable Measurements

Chapter 5 - Lean Payroll

Improvement Concepts

Payroll Data Collection

Timecard Data Collection

Analysis of Payroll Data Collection

Lean Payroll Data Collection

Convert Hourly to Salaried Pay

Data Collection Minimization

Computerized Time Clocks

Web-Based Timekeeping

Smart Phone Time Tracking

Copy Forward Hours Worked

Automated Time Tracking Reminders

Analysis of Lean Payroll Data Collection

Commission Processing

Commission Processing

Commission Processing Analysis

Lean Commission Processing

Commission Plan Simplification

Standard Commissions Report

Incentive Compensation Management Software

Analysis of Lean Commission Processing

Payroll Processing

Payroll Processing

Payroll Processing Analysis

Lean Payroll Processing

Payroll Cycle Duration

Off-Cycle Payroll Elimination

Outsource Payroll Processing

Payroll Data Entry by Employees

Payroll Data Entry by Managers

General: Prohibition of Employee Advances

General: Prohibition of Reimbursements through Payroll

General: Reduction of Pay Deductions

General: Combine Payroll Systems

Analysis of Lean Payroll Processing

Employee Payment Processing

Employee Payment Processing

Analysis of Employee Payment Processing

Lean Employee Payment Processing

Direct Deposit

Pay Cards

General: On-line Access to W-2 Forms

Analysis of Lean Employee Payments

Additional Improvement Concepts

Payroll Measurements

Chapter 6 - Lean Financial Statements

Improvement Concepts

How Financial Statements are Usually Produced

The Production of Financial Statements

Analysis of Financial Statement Production

Lean Financial Statements

Financial Statement Avoidance

Task Interdependency Analysis

Correct Errors Early

Reconcile Accounts Early

Adjust Reserves Early

Alter Overhead Allocations Early

Review the Shipping Log Early

Review Billable Hours Early

Accrue Early

Accelerate Depreciation Calculations

Examine Commissions Early

Standardize the Accounting System

Centralize the Accounting System

Centralize Travel Bookings

Process Centering

Mitigate Information Dependencies

Standardize the Report Layout

Reduce the Financial Statements

Collect Report Information Early

Electronic Delivery

Defer Activities

Automation Solutions

Ongoing Process Improvements

Analysis of Lean Financial Statements

Financial Statement Measurements

Chapter 7 - Lean Credit Management

Improvement Concepts

The Credit Management Environment

Traditional Credit Process

Analysis of Credit Management

Lean Credit Management

Credit Granting Consistency

Terms of Sale Consistency

Complete Information Gathering

Ongoing Information Gathering

Behavioral Trigger Analysis

Skew Credit Terms

Contact New Customers

Shift Risk to Credit Insurance

Analysis of Lean Credit Management

Additional Improvement Concepts

Credit Measurements

Chapter 8 - Lean Collections

Improvement Concepts

The Collections Environment

Traditional Collections Process

Analysis of Collections

Lean Collections

Payment on Receipt by Customers

Payment in Advance

Payment by ACH Debit

Focus on Large Dollar Invoices

Accelerate Small Write-offs

Increase Collection Staff Efficiency

Notify Sales Staff

Contact New Customers

Problem Resolution Working Group

Prevent Deductions

Accelerated Escalation

Practices to Avoid

Analysis of Lean Collections

Additional Improvement Concepts

Collection Measurements

Chapter 9 - Lean Inventory Accounting

Improvement Concepts

The Inventory Accounting Environment

Traditional Inventory Accounting

Analysis of Inventory Accounting

Lean Inventory Accounting

Perpetual Inventory System

Cycle Counting

Transaction Backlog Elimination

Bar Coded Inventory Transactions

Backflushing

Ending Inventory Estimation

Minimal Overhead Allocation

Lower of Cost or Market Limitation

Obsolete Inventory Tracking

Charge Inventory to Expense

Just-in-Time Deliveries

Drop Shipping

On-Site Inventory Ownership by Suppliers

Reduce Product Options

Analysis of Lean Inventory Accounting

Additional Improvement Concepts

Inventory Measurements

Chapter 10 - Lean Cost Accounting

Improvement Concepts

The Cost Accounting Environment

Traditional Cost Accounting Variance Analysis

Traditional Cost Accounting Job Costing

Traditional Cost Accounting Inventory Valuation

Traditional Cost Accounting Margin Reports

Analysis of Cost Accounting

Lean Cost Accounting

Cost Derivation with Backflushing

Terminate Labor Tracking

Terminate Materials Usage Tracking

Terminate Variance Reporting

Minimize Overhead Allocation

Pull System

Terminate Work Orders

Cell-Level Measurement Systems

Constraint Analysis

Target Costing

Analysis of Lean Cost Accounting

Additional Improvement Concepts

Cost Accounting Measurements

Chapter 11 - Lean Fixed Asset Accounting

Improvement Concepts

The Fixed Asset Accounting Environment

Traditional Fixed Asset Accounting

Analysis of Fixed Asset Accounting

Lean Fixed Asset Accounting

High Capitalization Limit

Minimal Base Unit Aggregation

Minimum Number of Asset Classes

Minimum Limit on Salvage Values

Interest Capitalization Avoidance

Common Depreciation Method

Annual Fixed Asset Audit

Fixed Assets Manual

Formal Documentation

Analysis of Lean Fixed Asset Accounting

Fixed Asset Measurements

Chapter 12 - The Lean General Ledger Environment

Improvement Concepts

The General Ledger Environment

Number of Accounts

Mapping

Journal Entries

Account Contents

Analysis of the General Ledger Environment

The Lean General Ledger Environment

Account Reduction

Meaningful Account Codes

Standardized Chart of Accounts

Journal Entry Restriction

Journal Entry Checklist

Journal Entry Templates

Recurring Journal Entries

Account Content Review

Practices to Avoid

Analysis of the Lean General Ledger Environment

General Ledger Measurements

Chapter 13 - Lean Budgeting

Improvement Concepts

The Budgeting Environment

Control Basis

Behavioral Impacts

Bureaucratic Support

Information Sharing

Inaccuracy

Analysis of the Budgeting Environment

A More Lean Approach to Budgeting

Error Checking

Summarization Comparison

Verification Rules

Capacity Verification

Step Cost Verification

Cash Flow Verification

Budget Simplification

Budget Procedure

Budget Pre-loading

Analysis of the More Lean Approach to Budgeting

The Ultimate Lean Budget

Operating without a Budget

Forecasting without a Budget

Capital Budgeting without a Budget

Goal Setting without a Budget

Compensation without a Budget

Analysis of the Ultimate Lean Budget

Summary

Chapter 14 - Lean Filing

Improvement Concepts

The Traditional Filing Environment

The Filing Environment

Analysis of the Filing Environment

The Lean Filing Environment

Report Purge

Copy Elimination

Individual Folder Creation Policy

Record Pre-Sorting

Document Destruction Policy

Off-Site Storage

Filing Cabinet Locations

Filing Carts

Longer Archiving Intervals

Storage Improvements

Document Imaging

Document Consolidation and Clarification

The Tickler File

Mis-Filing Solutions

Practices to Avoid

Analysis of the Lean Filing Environment

Chapter 15 - Lean Controls and Procedures

The Genesis of Accounting Controls

The Proper Balance of Control Systems

The Nature of Risk

Common Fraud Risk Factors

Control Principles

The Failings of Internal Controls

Special Case - Acquisitions

Special Case Employee Turnover

Special Case Rapid Growth

Terminating Controls

The Nature of a Procedure

The Need for Procedures

The Number of Procedures to Develop

Glossary

Accounting Course 1186 Home: https://www.cpethink.com/qas-cpa-courses
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