Identification of landed costs—a long-time goal of manufacturers, distributors, importers, and retailers—has grown in importance for all successful businesses in today’s increasingly competitive market. This white paper focuses on mid-size business needs. It provides comprehensive background information; examines some common business challenges; suggests cost-effective solutions provides links to case studies; and lists resources for additional information.
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Recent accounting scandals, highlighted by cases at Enron, Arthur Andersen, WorldCom, and Qwest, have emphasized the need for corporate governance, especially responsible corporate accounting. Not only must businesses use responsible accounting methods, but they must know that their methods are accurate. Small and mid-sized businesses must know the limitations of their current accounting software; understand the possible ramifications of system accounting balance failure; and take steps to guarantee the integrity, reliability, and accuracy of their systems. This white paper highlights the need to recognize problematic software accounting methods; minimize errors in account balance integrity, ledgers, and sub ledgers; and reduce the need for expensive rectification, to avoid serious legal ramifications.
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