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

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Cash and Internal  Cash and Internal  Controls Controls Chapter 8 Chapter 8
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
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
Background image of page 2
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  Separate recordkeeping from custody of  assets.  assets.  5. 5.       Divide responsibility for related transactions. Divide responsibility for related transactions. 6.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/31/2009 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas.

Page1 / 5

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

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online