portersm06final - CHAPTER 6 Cash and Internal Control...

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CHAPTER 6 Cash and Internal Control OVERVIEW OF EXERCISES, PROBLEMS, AND CASES Estimated Time in Learning Outcomes Exercises Minutes Level 1. Identify and describe the various forms of cash reported 1 10 Easy on a balance sheet. 6* 15 Mod 2. Show that you understand various techniques that 2 10 Easy companies use to control cash. 3 10 Easy 6* 15 Mod 3. Explain the importance of internal control to a business and the significance of the Sarbanes-Oxley Act of 2002. 4. Describe the basic internal control procedures. 4 20 Mod 5 15 Mod 5. Describe the various documents used in recording purchases and their role in controlling cash disbursements. *Exercise, problem, or case covers two or more learning outcomes Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff) 6-1
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6-2 FINANCIAL ACCOUNTING SOLUTIONS MANUAL Problems Estimated and Time in Learning Outcomes Alternates Minutes Level 1. Identify and describe the various forms of cash reported 4* 20 Mod on a balance sheet. 2. Show that you understand various techniques that 1 25 Mod companies use to control cash. 4* 20 Mod 3. Explain the importance of internal control to a business and the significance of the Sarbanes-Oxley Act of 2002. 5* 20 Mod 4. Describe the basic internal control procedures. 2 20 Mod 5* 20 Mod 5. Describe the various documents used in recording purchases and their role in controlling cash disbursements 3 25 Diff *Exercise, problem, or case covers two or more learning outcomes Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff)
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CHAPTER 6 • CASH AND INTERNAL CONTROL 6-3 Estimated Time in Learning Outcomes Cases Minutes Level 1. Identify and describe the various forms of cash reported 1 20 Mod on a balance sheet. 3 30 Mod 2. Show that you understand various techniques that companies use to control cash. 3. Explain the importance of internal control to a business and the 2 25 Mod significance of the Sarbanes-Oxley Act of 2002. 4* 30 Mod 4. Describe the basic internal control procedures. 4* 30 Mod 5. Describe the various documents used in recording purchases and their role in controlling cash disbursements *Exercise, problem, or case covers two or more learning outcomes Level = Difficulty levels: Easy; Moderate (Mod); Difficult (Diff)
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6-4 FINANCIAL ACCOUNTING SOLUTIONS MANUAL QU ESTION S 1. A cash equivalent is an investment that is readily convertible to a known amount of cash and has an original maturity to the investor of three months or less. It is in- cluded with cash on the balance sheet because the risk of a material loss on it is small. Unlike other types of investments, such as those in stocks and bonds of other companies, the company holding a cash equivalent knows exactly how much cash will be received when it matures. 2.
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This note was uploaded on 06/16/2009 for the course BUSINESS 4444 taught by Professor Dr.dale during the Spring '09 term at University of Texas at Dallas, Richardson.

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portersm06final - CHAPTER 6 Cash and Internal Control...

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