CFO Edge Logo
  Home > Resources > Chart of Accounts Article  

Chart of Accounts Best Practices

  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
  Open as PDF Open the entire article as a PDF  
  Article Summary  
Often the simplest and most basic things within an organization are overlooked. It is time to get back to basics! The most basic of outputs from an accounting department is the chart of accounts.

This CFO Edge article identifies challenges that occur when the chart of accounts is overly detailed, unorganized and inconsistently applied across subsidiaries.

Challenges like this result in the inability or delayed ability to perform a timely analysis of data and make it difficult to consolidate information for the parent company. These issues can negatively impact efficiencies and accuracy in areas like budgeting and high-level decision making.

Also reviewed are suggested best practices related to consolidating, condensing, and streamlining the chart of accounts. Companies applying these best practices will increase efficiencies, obtain more useful reporting outputs, and lower annual audit costs.

  Open the entire article as a PDF  
Subscribe to CFO Inside Edge

Our monthly newsletter delivers first notice of new white papers and articles plus remarks on performance challenges and solutions. View past issues and subscribe.

CFO or Controller: What's Right for Your Business?
White Paper
CFO or
What's Right
for Your
Outsourced CFO Services
White Paper
CFO Services
Performance Measurement
White Paper
Performance Measurement
Strategic Planning & Forecasting
Year-End Strategic Planning & Forecasting
Planning a Business Exit White Paper
White Paper
Planning a
Business Exit
CFO Edge Blog CFO Edge on Twitter CFO Edge on LinkedIn
Intuit Certifications