internal control questionnaire petty cash management

... Control and Cash Internal Control and Cash Internal Internal Control Control The SarbanesOxley Act Principles Limitations Chapter 8-3 Cash Controls Cash Controls Use of a Bank Use of a Bank Control ... Electronic Controls SO Explain the applications of internal control principles to cash disbursements Cash Controls Cash Controls Internal Control over Cash Disbursements Generally, internal control ... shown on daily cash summary Chapter 8-14 SO Explain the applications of internal control principles to cash receipts Cash Controls Cash Controls Illustration 8-8 Internal Control over Cash Disbursements...

Ngày tải lên: 17/12/2013, 12:33

... term management control, ” whereas this document uses the term internal control. ” GAO’s internal control standards state that these terms are synonymous Page GAO-01-1008G – Internal Control Management ... Internal Control Management and Evaluation Tool (8/01) (BLANK) Page GAO-01-1008G – Internal Control Management and Evaluation Tool (8/01) CONTROL ENVIRONMENT According to the first internal control ... Page 32 GAO-01-1008G – Internal Control Management and Evaluation Tool (8/01) CONTROL ACTIVITIES The third internal control standard addresses control activities Internal control activities are...

Ngày tải lên: 08/03/2014, 14:20

... term management control, ” whereas this document uses the term internal control. ” GAO’s internal control standards state that these terms are synonymous Page GAO-01-1008G – Internal Control Management ... Internal Control Management and Evaluation Tool (8/01) (BLANK) Page GAO-01-1008G – Internal Control Management and Evaluation Tool (8/01) CONTROL ENVIRONMENT According to the first internal control ... Page 32 GAO-01-1008G – Internal Control Management and Evaluation Tool (8/01) CONTROL ACTIVITIES The third internal control standard addresses control activities Internal control activities are...

Ngày tải lên: 23/03/2014, 03:20

... payment Controlling Petty Cash Payments On June 15, Sahita Inc manager decided to establish a $250 petty cash fund What is the entry? June 15, 200x Petty Cash 250 Cash in Bank To open the petty cash ... accounting records Internal Control Operational Controls Financial Reporting Controls Objective Tell how to achieve good internal control Establishing an Effective System of Internal Control Characteristics ... prepares a petty cash ticket At all times the amount of cash in the petty cash fund plus the petty cash tickets must equal $250 Controlling Petty Cash Payments Jose also spent $20 for delivery charges...

Ngày tải lên: 19/06/2014, 18:20

... strive for zero cash balances and use borrowings or marketable securities as a reserve  Monte Carlo simulation can be helpful in setting the target cash balance 28 - Why is inventory management ... inventory control system: Reduces safety stocks  Flexibility designed plants: Reduces inventory holdings of final goods 28 - 23 The Baumol Model  The EOQ model can be applied to cash management ... amount of cash needed for transactions during the year  F = fixed per transaction cost of selling securities or obtaining a loan 28 - 25 Costs of cash Holding costs Holding cost = (average cash balance)...

Ngày tải lên: 06/04/2015, 19:41

... The importance of internal control and risk management s Sound internal control and risk management supplement entrepreneurship, they not replace it s The role of internal control is to manage ... importance of internal control and risk management 14 3.1 3.2 3.3 Maintaining a sound system of internal control 18 Responsibility for the system of internal control ... internal control and should report to shareholders that they have done so The review should cover all controls, including financial, operational, and compliance controls and risk management Internal...

Ngày tải lên: 15/01/2014, 15:59

... responsibilities it consists of, cash management can be divided into: treasury management (or basic cash management) and advanced cash management A study of cash management practices in a sample ... present the cash management techniques whose application contributes to achieving efficient and successful cash management A recent cash management survey, i.e the Fourth Annual Cash Management ... Mercator d.d WHAT IS CASH MANAGEMENT? In its most simple description, cash management represents “the management of cash inflows and outflows of the firm, as well as the stock of cash on hand” (Fabozzi...

Ngày tải lên: 20/02/2014, 16:20

... whether internal control is effective in mitigating risks to objectives In the context of assessing internal control effectiveness, there sometimes is a tendency to consider internal control ... recognizes that management has flexibility in choosing controls to achieve its objectives and that an organization can adjust and improve its internal control over time As noted, the internal control ... financial reporting and related internal control Management s Philosophy and Operating Style – Management s philosophy and operating style support achieving effective internal control over financial reporting...

Ngày tải lên: 11/03/2014, 02:20

... achieve effective internal control Stakeholders are best served when company management resist any temptation to balance costs and benefits of internal control by reducing internal control effectiveness, ... reporting, risk management, and control Larry E Rittenberg Chair, COSO June 2006 Internal Control over Financial Reporting – Guidance for Smaller Public Companies • Volume II : Guidance Internal Control ... the Treadway Commission (COSO) Internal Control – Integrated Framework as it relates to the effectiveness of internal control over financial reporting Internal control over financial reporting...

Ngày tải lên: 11/03/2014, 02:20

... overall internal control structure and assess its effectiveness Objectives of Internal Control What are the objectives of good internal control? Answer: There are three objectives of good internal control ... control relate to the objectives of internal control, and how does that relationship affect management s assessment of internal control? Answer: Internal control is a process that supports continuous ... Importance of Control Components Are all the components of internal control equal? If not, which are more important? Answer: All five of the control components are important to strong internal control...

Ngày tải lên: 20/03/2014, 05:20

... time management skills and strategies are life management systems and strategies How you apply what I have shared will determine the quality of your life Time management is really life management ... together?” That phrase exclaims you aren’t busy, you need the deal and it turns over total control of your time management strategy to someone else Planning for personal development time The books ... it doesn’t go perfectly for you in your time management Don’t wallow in a lack of instantaneous results My professional view is the skill of time management is like a muscle; a muscle that needs...

Ngày tải lên: 22/03/2014, 19:20

... Database Control OEM application server and Fusion Middleware Control OEM Grid Control (GC) OEM Grid Control 11gR1 architecture Oracle management agent Local monitoring Remote monitoring Oracle Management ... Availability management, Performance management, and Service-Level Management Chapter 3, Modeling Groups and Systems, will present the OEM Grid Control capabilities in IT infrastructure management ... Grid Control product and is responsible for developing solutions in many areas, some of which include Business Services Management, middleware diagnostics, cloud management, and identity management...

Ngày tải lên: 23/03/2014, 04:20

... Working Capital Management Cash management is concerned with the management of: • Cash inflows and outflows of the firm • Cash flows within the firm • Cash balances (financing deficit ... process of cash management can be represented by the cash management cycle as shown in Figure 1.1 Business operations Cash Collections Deficit Surplus Information and control Borrow Invest Cash payments ... payments Figure 1.1: Cash Management Cycle Sales generate cash which is used to pay for operating activities The surplus cash has to be invested while deficit has to be borrowed Cash management seeks...

Ngày tải lên: 25/03/2014, 10:44

... an audit of internal control over financial reporting ("audit of internal control" ), the auditor's objective is to express an opinion on the effectiveness of the company's internal control over ... over financial reporting ( "internal control" ) Under SEC rules, a company's internal control cannot be considered effective if one or more material weaknesses in internal control exist Thus, under ... firms' testing of (1) management review controls and (2) controls during the roll-forward period, when controls had been tested during an interim period V Management Review Controls Inspections...

Ngày tải lên: 29/03/2014, 22:20

... 122 Table Good Cash Management versus Poor Cash Management 128 Table Categories of Good Cash Management Practices 129 v List of Figures Figure Histogram of Average Cash Management Scores ... are the cash cycle, cash budget, income statement, balance sheet, and the statement of cash flows Failure to utilize any of the five categories of cash management showed the degree of cash management, ... determine the extent of cash management in family-owned restaurants and what relationship, if any, cash management has on liquidity and longevity The five areas of sound cash management practices...

Ngày tải lên: 01/06/2014, 13:58

... adequate controls over petty cash, and an excessive amount of cash is maintained in one of its petty cash accounts that does not earn interest income for the State Internal controls over petty cash ... basis or as necessary At any given time, petty cash on hand plus outstanding petty cash vouchers should equal the original amount of the petty cash fund Petty cash account balances are authorized ... division’s petty cash account At June 30, 2002, we noted an overage in the Foreign Trade Zone’s petty cash account; all other petty cash balances were properly reconciled Excessive cash is maintained...

Ngày tải lên: 18/06/2014, 20:20

... and certain restricted cash is invested in the State’s investment pool Cash accounts that participate in the investment pool accrue interest based on the average weighted cash balances of each ... Basic Financial Statements – and Management s Discussion and Analysis – for State and Local Governments; GASB Statement No 37, Basic Financial Statements – and Management s Discussion and Analysis ... its operations Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain departmental functions or activities A...

Ngày tải lên: 18/06/2014, 20:20

... Support for Economic Development High Technology Development Corporation Energy Development and Management Natural Energy Laboratory of Hawaii Authority Office of Planning Foreign-Trade Zone Total ... Compensation Plan The State offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457 The plan, available to all state employees, permits employees ... but does have the duty of due care that would be required of an ordinary prudent investor Risk Management GASB Statement No 10, Accounting and Financial Reporting for Risk Financing and Related...

Ngày tải lên: 18/06/2014, 20:20

... recommendations regarding the unencumbering of closed, terminated, and/or completed encumbrances and its petty cash funds and is taking measures to ensure policies and procedures are improved and properly ... department’s response, the Hawaii Tourism Authority did not fully agree with our findings, regarding its management of contracts In its response, the authority noted that while This is trial version www.adultpdf.com ... all of its contractors that it will now insist upon strict compliance with its technical contract management requirements At the same time, the authority will pursue legislative efforts for executive...

Ngày tải lên: 18/06/2014, 20:20

Ngày tải lên: 18/06/2014, 20:20