The Coming Regulation Revelation: Why Microsoft Dynamics GP and SL Users Should Be Well Prepared

Use the words "Madoff," "economic meltdown," and "new Administration" in one sentence, then try to convince somebody that increased accounting regulation isn't coming.

Of course there will be abundant new initiatives to keep tabs on, and control of, company finances. What we don't know is precisely how increased regulation will impact our corporate books-or how soon.

Such entities as the Securities and Exchange Commission and Public Company Accounting Oversight Board will be front and center in the effort to ramp up regulation. Expected outcomes tied to the incoming Obama Administration include increased scrutiny of financial institutions coupled with more strict accounting procedures.

Recently-heard political rhetoric offers more than hints at what's coming. Such comments as "outdated and weak regulatory system," and "failure of regulators to adequately police the markets" no doubt will set the tone of efforts that ultimately will ramp up reporting and tracking requirements of companies throughout the country.

This scenario makes an extremely strong case for preventive medicine-in the form of accounting software with the power and resources to stay on top of expected regulations. In turn, this will help prevent SMBs nationwide from being crushed beneath the weight of new measures as they are enacted.

Users of Microsoft Dynamics® products--in particular, Dynamics GP and SL--should be prepared to meet challenges posed by increasing accounting regulation.  Among the ways this robust accounting software will help in the coming days are:

1. Putting into place stronger processes and procedures that will make compliance with new regulations more of a natural outgrowth of existing systems, versus having to rework and refine accounting systems to place them into compliance.

Think of this in terms of the taxpayer informed of a pending audit. A company that has ...