Accounting Information Resources

Guide to Accounting Information Resources

Support your financial staff with an accounting reference library.
By Heather Topham Wood

When setting up the accounting department of your small business, you want to gather as much information as possible. A comprehensive list of accounting information resources can provide you with all of the texts and reference documents that you need to make your accounting services run smoothly.

You should have the ability to customize the accounting references that you choose to use in your company. You’ll also want to find a set of accounting policies and procedures that you can integrate into your business with ease.

1. Use current accounting information to design your office’s policies and procedures. At start up, you want to develop a library of reference documents to help your accounting department perform day to day duties efficiently.
2. Get tax accounting information to perform accounts payable and receivable tasks correctly. Utilize reputable websites that provides state tax information and updates.
3. Consistently update your reference information on accounting. Always use accounting information resources that can give you the most up to date policies in a timely fashion.

Action Steps

The best contacts and resources to help you get it done

Download an accounting research and reference program You'll want to provide your accounting department with access to accounting references that are easy to use and that require little training in order to implement. Your accountants will want a software program that is customizable as well.

I recommend:  Sign up for a free trial on the Copedia website and see the accounting reference documents that they provide to their members. Most of the information on accounting provided within the program is formatted in MS Word or Excel.

Build a library of accounting reference materials Use various online directories to secure and manage documents that relate accountancy information. Change the accounting reference documents if they appear outdated and do not reflect current accounting policies and procedures.

I recommend:  Access accounting reference documents by using the links found on the Internet Public Library. If you rather have a reference document that gives you current accounting information without having to browse through links, download the e-book version of the Accounting Reference Desktop. Find a large amount of accounting information and tools at CCH. There's a very extensive listing of tax and accounting reference sites at TaxSites.com.

Subscribe to an online news wire to receive accounting info and news The accounting information viable to business owners is always changing. You should recommend that your accounting department subscribe to an online accounting news wire as a way to stay on top of changes that could affect your business operations.

I recommend:  On Topix, you can locate thousands of accounting news stories and reference documents. This site is updated on a daily basis as a way to provide the most up to date information. You’ll find that Accounting Web is equally helpful at providing the latest news for accountants. To keep up with state and local tax changes, try the Tax Cybrary; for small business tax updates, see Small Business Tax News.

Find tax accounting information

I recommend: 

Tips & Tactics

Helpful advice for making the most of this Guide

• If you want to streamline your accounting information library, use a software program that systematically updates your reference documents automatically as a part of your service package.