Internal Cash Control - INTERNAL CASH CONTROL 1 Internal...

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INTERNAL CASH CONTROL 1 Internal Cash Control 9/17/2011 Ty Harman ACC 220 Heath Braby Introduction Cash management can best be described as the ability to invest in cash in short term investments while controlling the inflow of money compared to the outflow of it. Most small to medium business struggle with this ability to develop a steady cash management and if it is done properly it will put a company on the right track to be able to invest and expanded for many years to come. Basic Principles Companies can use the five basic principles of cash management to increase the accuracy of their business by simply creating a budget and being able to not spread them out to thin. With the ability to create a budget it will make it easier for the company to project their future earnings and expenditures to know what months they will have extra cash either to invest in the company
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INTERNAL CASH CONTROL 2 or to invest in small investments. The five basic principles also give you a good guideline for a company to follow and make sure they are not over spending in inventory and giving unnecessary overtime to employees. PG 194 E 4-5 Some of the weaknesses that pertain to the Idaho Company are that you have two people writing checks from one bank account. The filing system that the treasurer is using is different from the purchasing agents. The checks are not pre-numbered and each signer has access to the
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