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Unformatted text preview: _________________________________________________________Accounting Manual for Public School Districts CHAPTER 3 – Accounting Guidelines Table of Contents –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– Chapter 3 – Accounting Guidelines 3-i Effective Date: 9-1-09 Page INTERNAL CONTROL STRUCTURE 1 Introduction ................................................................................................................................. 1 Basic Internal Control Requirements ........................................................................................ 1 Components of Internal Controls .............................................................................................. 2 Loss of Public Funds .................................................................................................................. 3 Audit Resolution Standard ......................................................................................................... 3 PAYROLL PROCESS 3 Personnel Decisions ................................................................................................................... 3 Payroll Database ......................................................................................................................... 4 Time and Effort Records ............................................................................................................ 5 REVENUES AND RECEIPTS 5 Timely Deposit ............................................................................................................................ 5 Cash Receipts ............................................................................................................................. 5 Revenue Accruals ....................................................................................................................... 6 Revenue Carryover ..................................................................................................................... 6 Deferred Revenues ..................................................................................................................... 7 Nonexchange Transactions ....................................................................................................... 7 Receivables ................................................................................................................................. 8 Electronic Funds Transfer ......................................................................................................... 8 Revenue Versus Contra-Expenditure Recognition .................................................................. 8 EXPENDITURES AND DISBURSEMENTS 9 Employee Travel ......................................................................................................................... 9Employee Travel ....
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This note was uploaded on 10/27/2011 for the course ACCT 4263 taught by Professor Chaplin during the Spring '11 term at Fairleigh Dickinson.

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