CBA - Accounting System

1.      Obtain (or develop) a description of your corporate accounting system

2.      Determine whether your declared corporate accounting system matches the actual one

3.      Determine how well your financial accounting system meets (a) chosen accounting standards (GAAP or IFRS), and (b) financial information/knowledge needs of your managers and specialists

4.      Determine how well (‘naturally’) your cost accounting system allocates costs to your corporate objects and processes

5.      Determine how well your tax accounting system (a) minimizes your tax burden and (2) keeps you out of legal trouble