Web Chapter 8 - Cash and Internal Cash and Internal...

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Unformatted text preview: Cash and Internal Cash and Internal Controls Controls Chapter 8 Chapter 8 Principles of Internal Control Principles of Internal Control Employees Sales Rep. Managers Factory Staff Admin. Staff Vendors Customers Criminals Cash Other assets Inventory Equipment Misuse of assets Misstatement of financial records Principles of Internal Control Principles of Internal Control 1. 1. Establish responsibilities. Establish responsibilities. 2. 2. Maintain adequate records. Maintain adequate records. 3. 3. Insure assets and bond key employees. Insure assets and bond key employees. 4. 4. Separate recordkeeping from custody of assets. Separate recordkeeping from custody of assets. 5. 5. Divide responsibility for related transactions. Divide responsibility for related transactions....
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Web Chapter 8 - Cash and Internal Cash and Internal...

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