As a new accountant.. Part A

things people will do for their business

When one is hired/appointed to a new position in a new company, please keep your eyes and ears open to the following areas when you are being briefed on your new responsibilities by your new colleagues.

  1. You should obtain an understanding of the business and its environment.
  2. You should obtain an understanding of the business’s accounting processes.
  3. Are there opportunities that controls may be incomplete, non existent or overrided?
  4. What is the money flow for the business? Follow the money!
  5. Focus on other key areas of potential risks in journal entries, accounting estimates and significant transactions.

Be careful.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s