Just-In-Time Accounting

"The single most important way to speed up the processing of cash is to implement a lockbox system."

"Different types of measurements are needed to determine the efficiency of improving the speed of cash flow, reducing the transaction-processing work of the accounting staff, and reducing the time required to complete a transaction."

"One solution to speeding up the sales and receivables process seems simple enough?just concentrate all the functions with one person to avoid the move and wait intervals, and have that person complete all the steps. "

"[A company must measure its efforts to improve] the speed of the sales/receivables transaction cycle and reducing the transaction processing work of the accounting staff."

"Any changes in accounting for inventory will have an appreciable effect on the value of a company's largest current asset."

"Eliminating or reducing the receiving and warehousing functions reduces the number of transactions that must be recorded and the time it takes for received parts to reach the production area."

"A few key statistics can give management a clear idea of the velocity of inventory, the accuracy of databases that affect inventory, and the cost to maintain inventory."

"Exceptional improvements in the speed of accounts payable transactions can be realized."

"Most of these measurements try to highlight the volume of transactions about to reach the payables department."

"A revised cost accounting system should tackle the issue of speeding up the accounting process by addressing not only the tasks occurring during the closing process but also the relevance of the information transmitted to the operational staff."

"A variety of alternative measures are available that provide more relevant costing information to management than the traditional set of volume and efficiency variances."

"One of the problems with a traditional payroll system is the number of people who handle deduction information before it finally enters the payroll system."

"Measurements are useful for tracking the cost and payment speed of the payroll system."

"The time allocated to the budget process is among the biggest draws upon the time of today's manager. Reducing that block of time will allow the manager more time to run the business."

"Very few companies have devised measurement systems that track the efficiency of the budget process."

"Electronic data interchange is the transmission of information between computers in a strictly defined, prearranged format."

"The following are some questions to consider during the design of an EDI system."

"When a major change is in the process of implementation, the organization will pass through a well-defined set of responses."

"Perhaps the most important issue for a reengineering project is that it must be planned adequately to convince the many nay-sayers who will arise when the project is announced."