Reflection Paper

For accountants, processing documentation refers to documenting those significant accounting processes to make sure the financial reporting are consistent with the company’s business activities, and GAAP. Documentation of significant accounting processes also help companies achieve business operations effectiveness. To prove the necessity of accounting process documentation. I will prove it from several aspects. First, business transaction cycles are always managed through Accounting Information System. Transaction cycles are initiated by accountants to determine what type of the transactions should be recorded, and then the record is disseminated to execution departments. Secondly, accounting processing requires approvals of each transaction, which ensures validate process and internal control. For example, when a purchase option is made, the approval from a supervisor or manager is required. Documenting of the approval ensures the activities are consist with company operations, facilitates the managers to trace errors or fraud to the responsibility of any employee. Last but not least, accounting process documentation offers the description of how the routine transactions are accounted for. It is to make sure the procedure is applied correctly and consistently. So that the financial reports generated from the data have effective reliability and reflections. This with help the management and shareholders to make prudent decisions.

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