Handbook of Internal Accounting Controls [Hardcover]

Wanda A. Wallace (Author)

Book Description

Publication Date: September 1991

This is a practical "what-to-do" and "how-to-do-it" approach to establishing, operating and maintaining the corporate internal accounting function.

Product Details

• Hardcover: 704 pages
• Publisher: Prentice Hall Trade; 2 Sub edition (September 1991)
• Language: English
• ISBN-10: 0133880591
• ISBN-13: 978-0133880595
• Product Dimensions: 9 x 6 x 1 inches
• Shipping Weight: 1.4 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,335,334 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

5.0 out of 5 stars Still a Relevant Classic, March 8, 2011

By 

Ellen_M (Westport, CT) - See all my reviews

This review is from: Handbook of Internal Accounting Controls (Hardcover)

This book was written when audit firms still performed all of the detailed review and testing on most assignments. Although some of the specific methods have changed, i.e. performing an analytical review or walkthrough vs. detailed testing, the underlying theory is unchanged. In fact, to perform more of a summary review, having a firm understanding the core concepts is even more important. This Wallace's book is the classic go to on these concepts. This book is recommended for someone who is not only reviewing controls, but also someone directly responsible. An accounting manager, a controller, or CFO who just need some structured guidance to review their own ops would find this book useful. It does not have to be read straight through; it can be used as a reference manual. If you are focused on or redesigning a particular area, you can refer to only that part of the book. More specifically, it provides guidance on:-

-- How to design controls
-- How to evaluate existing controls
-- Whether a particular weakness is material
-- How to address, resolve and report areas for improvement

Controls are reviewed by area: income, expense, etc. It is a good tool that provides guidance for understanding the importance of an organization's internal controls.