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Accounting System Design: Creating the Right System for Your Company

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
All businesses require an accurate, streamlined accounting system to provide them with the up-to-date financial information that drives all their daily decisions. The importance of a good accounting system means that it must be designed with great care.

This article addresses fundamental considerations for the design of any successful accounting system. Topics reviewed include management input; desired information and output format; chart of accounts; structure, flexibility and simplicity; and accounting software, process integration and customization.

Sometimes it can be difficult to walk the thin line necessary to correctly address all accounting system components without overbalancing into one that is too simple or too complex. Los Angeles CEOs and CFOs may find it helpful to consult with an outside expert like a CFO services firm that has experience designing and developing accounting systems for your industry.

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