Subscribe to one of our Finserv newsletters. If you sign up to our free Finserv monthly newsletter, you will receive a free Business Health Check report. Home We live and work in a fast-changing business world. This means that we need to be able to adapt to these changes quickly. Itâs not possible if our financial reporting systems are out-of-date, or just not up-to-date. We need to be geared for change. This is why we use the phrase âAccounting for Changeâ to underline what we do for clients.
A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol.olicy differs from rules or law. While law can compel or prohibit behaviors (e.g. a law requiring the payment of taxes on income), policy merely guides actions toward those that are most likely to achieve a desired outcome.
A procedure is a sequence of steps for completing a given activity. A procedure may outline the manner in which a particular policy is to be implemented, but it cannot take the place of that policy. Recall that a good policy is inviolate, that is, policies change slowly and infrequently if at all.Procedures, on the other hand, change often as dictated by any number of factors such as staffing, equipment, space, and tech-nology.An earlier procedure related to a given policy may have required a number of steps which can now be eliminated as a result of new technology.he policy number is assigned by the Administrator's office. 5.1.2 All hospital-wide policies and procedures shall be documented using the following format: Section. Section 1.0 - Purpose. a positive statement of the intention or aim of the policy conveyed to the reader in as few words as possible.