We Continuously Improve: Accounting Processes

We Continuously Improve: Accounting

Clyde Companies is committed to continuously improving its processes and practices, as demonstrated by the implementation of a new core value of “We Continuously Improve.” One area where significant progress has been made recently is in the stewardship of accounting processes. 

In the past, each subsidiary had its own accounting process, which led to inconsistencies and confusion. To address this issue, Clyde Companies implemented a new standardized “work paper format.”

The new format includes a purpose section that explains the reason behind the process, followed by a section that outlines the sources and procedures, and ends with a tick mark section that highlights any deviations from expectations. It also specifies the colors to be used to highlight different aspects of the process. 

By standardizing the work paper format and removing unnecessary instructions or processes, Clyde Companies has made it easier to hand off accounting processes to new employees and ensure the accuracy of financial statements, even if turnover occurs. 

The new format has also provided leadership with greater insight and trust in the accuracy of financial statements, which can lead to more informed decisions and potentially more profit. 

Clyde Companies recognizes that continuous improvement is vital for growth and encourages its employees to share improvements with each other and to create standardized new and better ways of doing things by thinking outside of the box. The company understands that growth is not only about making money but also about learning, understanding, and investing in its people to help them make better decisions in complex situations. 

Through its continuous improvement efforts, Clyde Companies aims to empower a community of decision-makers who help each other change and grow professionally and personally. By creating regular improvement discussions and a supportive work environment around root cause problem solving, Clyde Companies is not only growing but also helping its team members reach their full potential.