TAILIEUCHUNG - Lecture Financial accounting (9th Edition): Chapter 7 - Weygandt, Kieso, Kimmel

Chapter 7 - Fraud, internal control, and cash. The following will be discussed in this chapter: Discuss fraud and the principles of internal control, identify the basic concepts of an accounting information system, describe the nature and purpose of a subsidiary ledger, explain how companies use special journals in journalizing. | Preview of Chapter 7 Financial Accounting Ninth Edition Weygandt Kimmel Kieso Learning Objectives After studying this chapter, you should be able to: [1] Define fraud and internal control. [2] Identify the principles of internal control activities. [3] Explain the applications of internal control principles to cash receipts. [4] Explain the applications of internal control principles to cash disbursements. [5] Describe the operation of a petty cash fund. [6] Indicate the control features of a bank account. [7] Prepare a bank reconciliation. [8] Explain the reporting of cash. 7 Fraud, Internal Control, and Cash Dishonest act by an employee that results in personal benefit to the employee at a cost to the employer. Three factors that contribute to fraudulent activity. Illustration 7-1 Fraud Fraud and Internal Control LO 1 Applies to publicly traded . corporations. Required to maintain a system of internal control. Corporate executives and boards of directors must ensure that these controls are reliable and effective. Independent outside auditors must attest to the adequacy of the internal control system. SOX created the Public Company Accounting Oversight Board (PCAOB). The Sarbanes-Oxley Act Fraud and Internal Control LO 1 Methods and measures adopted to: Safeguard assets. Enhance the reliability of accounting records. Increase efficiency of operations. Ensure compliance with laws and regulations. Internal Control Fraud and Internal Control LO 1 Five Primary Components: A control environment. Risk assessment. Control activities. Information and communication. Monitoring. Internal Control Fraud and Internal Control LO 1 LO 1 Learning Objectives After studying this chapter, you should be able to: [1] Define fraud and internal control. [2] Identify the principles of internal control activities. [3] Explain the applications of internal control principles to cash receipts. [4] Explain the applications of internal control principles to cash disbursements. [5] Describe

• Kế toán - Kiểm toán
• Accounting for receivables
• Analyzing receivables
• Accounts receivable
• Internal control
• Bank account
• Internal control activities
• Financial accounting
• Lecture Financial accounting
• Kế toán tài chính
• Notes receivable
• Disposal of receivables
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Survey of accounting
• Lecture Survey of accounting
• Accounting for cash
• Accounting cycle
• Inventory cost flow
• Uncollectible accounts
• Lecture Accounting principles
• Financial reporting
• Statement presentation
• Nguyên lý kế toán
• Recognizing accounts receivable
• Managerial accounting
• Financial and managerial accounting
• Lecture Principles of financial accounting
• Bài giảng Nguyên lý kế toán tài chính
• Receivable transactions
• Account for notes receivable
• Business decision
• Completing the accounting cycle
• Classified balance sheet
• Financial resources
• Accounting provides information
• Accounting for merchandising operations
• Merchandising operations
• The recording process
• Accounting information system
• Intermediate accounting
• Lecture Intermediate accounting
• Cash and receivables
• The different types
• Define receivables
• An international approach
• Accounting concepts
• Balance sheet
• Revenues and trade receivables
• Trade receivables
• Special issues
• Types of receivables
• Fundamental financial accounting
• Lecture Fundamental financial accounting concepts
• Financial statement
• Computing uncollectible accounts expense