TAILIEUCHUNG - Lecture Principles of financial accouting - Chapter 8: Cash and internal controls

After completing this chapter you should be able to: Define internal control and identify its purpose and principles, define cash and cash equivalents and explain how to report them, compute the days’ sales uncollected ratio and use it to assess liquidity. | Chapter 8 Cash and Internal Controls Chapter 8: Cash and Internal Controls Internal Control System Policies and procedures managers use to: Protect assets. Ensure reliable accounting. Promote efficient operations. Urge adherence to company policies. C1 Managers (or owners) of small businesses often control the entire operation. These managers usually purchase all assets, hire and manage employees, negotiate all contracts, and sign all checks. They know from personal contact and observation whether the business is actually receiving the assets and services paid for. Most companies, however, cannot maintain this close personal supervision. They must delegate responsibilities and rely on formal procedures, rather than personal contact in controlling business activities. Managers use an internal control system to monitor and control business activities. An internal control system consists of the policies and procedures managers use to: Protect assets. Ensure reliable accounting. .

• Tài chính doanh nghiệp
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Internal controls
• Control of cash
• Banking activities
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting