Internal Cash Controls

INTERNAL CASH CONTROLS natural capital Controls Rhonda Porter University of phoenix Internal bills Controls Cash is the life flow of each companies large or small. Internal bills control is a really eventful part of any company. A company assume to be able to know at any minute of arc where their nones comes in and goes out. Cash is the beginning of a companys operating cycle; it is usually the starting point for a companys frame of internal control. The internal nimble payment controls for the Idaho based company defy weaknesses over their currency disbursal processes. The weakness that I have seen were the fact their checks be not prenumbered. in addition that only two people atomic number 18 abstruse in the process, I think to a greater extent steps needs to be taken to have more checks and balances in the system to avoid accounting errors or fraudulent activities. The following is a memo to the companys CEO about somew hat(a) of its procedures. Memorandum To:Idaho Company CEO From:Rhonda Porter, psychoanalyst Date:2/26/2012 Re:Internal Cash Controls I feel some of your procedures need some improvement. I feel that you need to have your checks to be prenumbered. You could obtain a check writing system to go along with the prenumbered checks.

Also I feel you need to have more employees to be involved in your invoices and payments made. You should have someone disparate to fabricate your books other than treasurer who approves and pays some of the companys bills. I hope you can take these suggestions and improve yo ur procedures ahead any problems could aris! e in your internal cash in controls. The defy give chase company uses the following internal control principles and exertion to cash disbursements: Establishment of responsibilities; segregation of duties; documentation procedures; physical, mechanical and electronic controls; and case-by-case internal verification. It seems that the Guard Dog company has a considerably procedure in place for their internal cash controls. even so in the...If you want to get a generous essay, ordering it on our website: BestEssayCheap.com

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