What You Should DoBy Larry Barrett | Posted 2002-07-02 Print
Expenditures of public companies are getting closer scrutiny. When will there be accounting for information technology?
Accounting for IT Spending
How to know when to say "when" to adding more servers:
- Think it through. Determine what the final information is that you want to track and then work backwards from that
- Identify "soft costs.'' Find the cracks where unexpected expenses will materialize and determine which department will be responsible for those costs
- Communicate, communicate. Make sure all employees know what data needs to be gathered and reported
- Do due diligence. Review how your current systems account for costs
- Review contracts. Examine agreements with suppliers and consultants to make sure all costs are reported fully and regularly
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