MKS&H Articles

Achieve Sustainable Cost Cutting at Your Organization

[fa icon="calendar'] Feb 24, 2015 11:23:28 AM / by admin posted in Audit and Accounting, internal controls, cost reductions

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Taking costs out of a business can be deceptively easy to do -- at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings. However, these savings are often not sustainable. Slowly but surely, decisions will be made by front line employees and managers alike that add costs back into the business. Within short order, many companies find themselves back in the exact same place they were before the costs were cut; only now employee morale has suffered and there is a general resistance or apathy to cost cutting throughout the organization.

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Manage Debts to Protect Bottom Line

[fa icon="calendar'] Feb 11, 2015 11:25:19 AM / by admin posted in Debt, Audit and Accounting, internal controls, Management

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Paying your company debts is just as important as collecting your own accounts receivable and they need just as much management. The good thing is, you actually have a surprising amount of control over how and when your company's debts are paid and that provides several advantages.

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5 Ways to Improve Your Internal Controls around Cash Receipts and Disbursements

[fa icon="calendar'] Oct 27, 2014 12:23:40 PM / by admin posted in cash receipts, Audit and Accounting, internal controls, disbursements, fraud

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Segregating duties to prevent fraud and reduce weak controls is not always easy, especially when you have a small accounting department. However, there are some simple internal controls that are often over looked that you can put in place to eliminate some risk.

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