Finance training and development is a crucial skill in the Business environment. Failure to implement and maintain basic finance strategies acquired through education and training can lead to a number of fiscal disasters including employee theft. Many companies are caught off guard when they discover that a trusted bookkeeper, accountant, CFO or even a project manager has been skimming money for years.
Here are some sound financial strategies that are valid for organizations of any size:
· The person who approves invoices should never be the same person who writes checks.
· The person who writes checks should not have check signing authority. If this is not practical, the organization should establish a check limit above which two signatures are required.
· Unannounced random audits should be conducted on payables. Invoices should be matched with purchase orders. The actual product or service purchased should be physically accounted for or traced back to the ultimate end user.
· Unissued blank checks should be physically inventoried, from time to time, to look for unexplained missing checks. Keep blank checks locked up.
Finance training education points that one way to control finances is to inspect carefully every business transactions or purchases acquired by your company. Every purchase from vendors greatly exceeding the average amount spent with that vendor should always be scrutinized.
· The petty cash account should be reconciled against receipts at least monthly.
· Travel and employee expense forms, as well as company credit card statements for cards issued to employees, should be scrutinized and reconciled before payment is made.
· Review all fiscal polices at least quarterly and make adjustments when necessarily.
Remember — the easiest way to stop money from disappearing is to tightly control how it is disbursed. You can do this if you can understand better the flow of Finances in your company and enroll in online teaching or distance education in finance with AOT. This will certainly help you achieve your goal.
Cesar Marlo M Rivera
http://www.articlesbase.com/education-articles/finance-control-tips-753096.html
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#1 by jokeduck on July 10, 2010 - 6:24 pm
Are these Handy Tips for Life funny or true
DIET TIP:
Lose weight quickly by eating raw pork or rancid tuna. The subsequent food poisoning/diarrhea will enable you to lose 12 pounds in only 2 days.
FINANCE TIP: Save on electricity by turning off all the lights in your house and walking around wearing a miner’s hat.
FINANCE TIP: Save on gasoline by pushing your car to your destination. Invariably passers-by will think you’ve broken down and help.
HOUSEHOLD TIP: Drill a one inch diameter hole in your refrigerator door. This will allow you to check that the light goes off when the door is closed.
HOUSEHOLD TIP: Old telephone directories make ideal personal address books. Simply cross out the names and address of people you don’t know.
INEXPENSIVE ENTERTAINMENT: At work, put decaf in the coffee maker for 3 weeks. Once everyone has gotten over their caffeine addictions, switch to espresso.
INEXPENSIVE ENTERTAINMENT: Buy a television set exactly like your neighbors. Then annoy them by standing outside their window and changing their channel using your identical remote control.
INEXPENSIVE ENTERTAINMENT: During rush hour, sit in your parked car and point a hair dryer at passing cars. See if they slow down.
INEXPENSIVE ENTERTAINMENT: Fool other drivers into thinking you have an expensive car phone by holding an old TV or video remote control up to your ear and occasionally swerving across the road.
INEXPENSIVE ENTERTAINMENT: Putting just the right amount of gin in your goldfish bowl makes the fishes’ eyes bulge and causes them to swim in an amusing manner.
INEXPENSIVE ENTERTAINMENT: When the money comes out the ATM, scream "I won!" "I won!" "3rd time this week!"
PARKING TICKETS: Avoid parking tickets by leaving your wipers turned to ‘fast wipe’ whenever you leave your car parked illegally.
PERSONAL HYGEINE: No time for a bath? Wrap yourself in masking tape and remove the dirt by simply peeling it off.
SAFETY TIP: Never attempt to fasten your shoe laces in a revolving supermarket door.
TRAVELING TIP: Avoid the need to pack bulky shampoo bottles, which can leak in your suitcase, by arranging for the whole family to have ’skinhead’ haircuts a day or two before departure.
TRAVELING TIP: When out driving always turn left. Then, should you become lost, you can find your way home by reversing the procedure and always turning right.
#2 by bookgrl on July 10, 2010 - 11:26 pm
they are very funny
you are pretty funny
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#3 by ☆thumper203☆ on July 10, 2010 - 11:28 pm
and just where might someone get one of those fancy miner’s hat?
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#4 by Richard FDisk.exe on July 10, 2010 - 11:30 pm
cute
made me laugh
cheers
►RfD◄
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#5 by Air Master Aang on July 10, 2010 - 11:32 pm
rellyreallyreallyreallyrealyreally (deep breath) FUNNY
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#6 by sweety on July 10, 2010 - 11:34 pm
yes i use these life tips everyday
…
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very funny
#7 by .Jade.Loves.Green. on July 10, 2010 - 11:36 pm
haha they’re funny.
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#8 by Errrk on July 10, 2010 - 11:38 pm
An expensive car phone the size of a TV remote? When did you write these, 1992?
LOL though. Really funny otherwise.
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#9 by abdul on July 10, 2010 - 11:40 pm
haha star
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#10 by JAM123 on July 10, 2010 - 11:42 pm
Ha ha ha.!!!
That is Brilliant Chris, the best one tonight.!!!
10/10.!!!
Cheers mate, still laughing here.!!
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#11 by Beth R on July 10, 2010 - 11:44 pm
hee hee i get it
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#12 by bella_gurl on July 10, 2010 - 11:46 pm
that is hil-ar-ious darling. have a star
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#13 by keepitsimple on July 10, 2010 - 11:48 pm
good except for the goldfish and gin one
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#14 by allicat332 on July 10, 2010 - 11:50 pm
those are brilliant. they should be put in a handbook for blondes
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#15 by Pat D on July 10, 2010 - 11:52 pm
sad
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#16 by mememe on July 10, 2010 - 11:54 pm
most of them are funny except for this
INEXPENSIVE ENTERTAINMENT: Buy a television set exactly like your neighbors. Then annoy them by standing outside their window and changing their channel using your identical remote control.
how is that inexpensive
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