BOOK REVIEW: JUST-IN-TIME ACCOUNTING: HOW TO DECREASE COST AND INCREASE EFFICIENCY

By Steven M. Bragg CPA

Published by John Wiley & Sons Inc., 398 pages $65.00

Review by Alexander A.H. Bohtling, CPA, retired from Deloitte & Touche LLP

As stated in the preface, this book comprises numerous approaches toward handling and improving accounting systems. It consists of two parts: the first part comprises a number of very comprehensive chapters dealing with how to increase the speed of operations in the traditional accounting areas--cash, sales and accounts receivable, inventory, accounts payable, cost accounting, payroll, and budgeting. Part two examines a number of areas that are needed to support the traditional areas. Included are chapters on electronic data interchange, the quick close, process documentation, and effects of change on employees.

Existing accounting systems, both of the older and newer type, are discussed in considerable detail, with numerous recommendations for improving and updating them.

At the end of the book is a very handy appendix, captioned--Summary of Recommendations, grouped as to each chapter.

Technical issues in cost accounting systems are stressed, and advice is given as to improving procedures followed at the time.

Compilation and control issues related to the budget are discussed in considerable detail, and useful advice as to its implementation is given. Throughout the book, frequent reference is made to computer systems and how they should be handled. Anticipation of various types of accounting problems and steps recommended as to their resolution are well covered. Considerable reference is made to conversion of manual systems to computerized accounting systems and the effect this has on employees of the organization.

In your reviewer's opinion, this book covers the accounting situation and problems of a medium-sized organization very well and, besides, provides useful guidance for individuals transferring from CPA practice to private accounting. *