Accounting controls in a procurement card environment

Article Abstract:

Companies that use procurement cards may need to modify their accounting controls. These cards, also known as purchase cards, allow business organizations or government agencies to make small purchases without having to place purchase orders. Eliminating such a nonvalue-added step helps them reduce their procurement costs and allows their purchasing departments to focus on larger-value acquisitions. The increased use of procurement cards redefines the role of the accounting department. It must become involved in the formulation of policies regarding the use of these cards, education of card users and performance of an ongoing audit of the procurement card system. It must implement internal controls that will help the purchasing department examine acquisitions and control the costs of the procurement decision-making process.

Purchasing, Management, Usage, Credit cards, Accounting and auditing, Internal auditing

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Powerhouse presenting

Article Abstract:

Accountants can ensure the success of their presentations by following standard communication techniques. The primary consideration when preparing for a presentation is determining the purpose of the presentation. This objective should then be used as a basis for drafting the message that the accountants want to convey. Another point to consider is developing an opening that will grab the attention of the listeners. Beginning a presentation with an apology should be avoided at all costs because it will only erode the speaker's credibility. It is also important for speakers to be enthusiastic, speak with a memorable style, keep presentations short, seek feedback and adopt a good attitude. Finally, accountants are advised to make presentations every chance they get so that they will become experienced.

Accounting, auditing, & bookkeeping, Methods, Accountants, Business presentations

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