{"id":101891,"date":"2022-09-12t12:00:00","date_gmt":"2022-09-12t16:00:00","guid":{"rendered":"\/\/www.g005e.com\/?p=101891"},"modified":"2024-08-07t23:10:36","modified_gmt":"2024-08-08t03:10:36","slug":"the-priorities-were-backward","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/09\/12\/the-priorities-were-backward\/","title":{"rendered":"the priorities were backward"},"content":{"rendered":"
<\/a>what is the worst thing that could happen?<\/strong><\/p>\n by ed mendlowitz when i was a junior accountant an eon ago, my boss would always give me the cash to reconcile or audit, the minutes to \u201cabstract,\u201d and the internal control questionnaire to go over with the controller or bookkeeper. more: <\/b>the seven-minute financial statement<\/a> | when an audit is a great thing<\/a> | how to read a financial statement<\/a> | the kpi an absentee manager needs<\/a> | which kpis do you need?<\/a> | 77 thoughts about client needs<\/a> then when i became a manager, i continued this practice of having lower-level staff perform these procedures. i now consult with many accounting firms and find it is still being done that way. i stopped it many years ago and wonder why it\u2019s still widespread. and then one day i had a revelation. if any employee theft happened at a client on my watch, it would be with the cash or because of inadequate internal controls. i also realized that some of a small company\u2019s minutes were done to justify something that might not have been completely on the up and up. yet, these were the things i looked at the least and had the least experienced staff people working on the most. that scared me to no end and made me wonder how i could be so stupid.<\/p>\n from that time on, this was assigned to my highest-level staff and then i carefully reviewed what they did. before i had higher-level people working for me, these three functions became my job. i enjoyed this work, found out the most information from it than from any other work i could do at the client, and i was on top of the most sensitive and error-prone areas in a client\u2019s accounting system. it also provided information i could discuss with the client, adding to my knowledge base and impressing clients with my insight and interest in their business. i also never had to confront a client asking me, \u201chow could you let this happen?\u201d<\/p>\n just because something has always been a certain way doesn\u2019t mean it\u2019s the best way. look at what you do and how you assign staff and get it done the best way possible \u2013 not just the way it has always been done.<\/p>\n","protected":false},"excerpt":{"rendered":"
\n<\/i>call me before you<\/em> do anything: the art of accounting<\/a><\/p>\n
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\nwhen i started my practice, my skill level did not miraculously grow to where i became a super accountant. but what did change was the level of responsibility i had and certainly felt. any errors, mistakes, missed steps, penalties and overlooked defalcations would be my responsibility and my bad. that made me nervous and caused me to think in ways i never had to, previously.<\/p>\n