Sunday, December 22, 2013

Internal Cash Controls

INTERNAL CASH CONTROLS natural capital Controls Rhonda Porter University of phoenix Internal change Controls Cash is the life flow of whatever companies large or small. Internal bills control is a actually eventful part of some(prenominal) company. A company take away to be able to know at any effect where their nones comes in and goes out. Cash is the beginning of a companys operating cycle; it is usually the starting point for a companys frame of internal control. The internal prompt payment controls for the Idaho based company feel weaknesses over their specie disbursal processes. The weakness that I have seen were the fact their checks atomic number 18 not prenumbered. as well that only two people atomic number 18 abstruse in the process, I think to a greater extent steps needs to be taken to have more checks and balances in the system to avoid accounting errors or fraudulent activities. The following is a memo to the c ompanys CEO about somewhat(a) of its procedures. Memorandum To:Idaho Company CEO From:Rhonda Porter, psychoanalyst Date:2/26/2012 Re:Internal Cash Controls I feel some of your procedures need some improvement. I feel that you need to have your checks to be prenumbered. You could obtain a check writing system to go along with the prenumbered checks.
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Also I feel you need to have more employees to be involved in your invoices and payments made. You should have someone disparate to resolve your books other than treasurer who approves and pays some of the companys bills. I hope you can take these sugg estions and improve your procedures ahead a! ny problems could arise in your internal currency controls. The defy drop back company uses the following internal control principles and exertion to cash disbursements: Establishment of responsibilities; segregation of duties; documentation procedures; physical, mechanical and electronic controls; and self-sustaining internal verification. It seems that the Guard Dog company has a broad(a) procedure in place for their internal cash controls. crimson in the...If you want to get a generous essay, ordination it on our website: BestEssayCheap.com

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