The Importance of Reliable Accounting Within the Organization
Summary
Without adequate records, decisions would be based on memory and guesswork, and having to prove the authenticity of transactions during regulatory audits would be overwhelming. To retain a tangible record of an organization’s transactions and financial position is crucial to making wise and informed decisions. Bond purchasers, investment bankers, vendors, and other creditors rely on your financial records to be materially accurate in order to decide whether or not to provide resources to your organization. SOURCE: This document contains content from selected chapters of a manuscript developed by RDA Systems, Inc. for the National Center for Educational Statistics. Robert E. Davis was the Principal Investigator and Paul Glick served as Project Director for RDA Systems, Inc. during the initial development effort.
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