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An application of good internal control over cash disbursements is...?
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The total of the cash disbursements column of the cash disbursements journal is posted to the cash account as a?
credit
What is the purpose of preparing a voucher?
To safeguard all cash disbursements
What are the weakness in internal control over cash disbursements?
It's important to have good controls over your cash. Otherwise, you may find your cash disappearing! A few examples include ensuring only certain people in the company are signatories (i.e. can sign checks), have access to bank account information, and can create bank accounts. Cash is critical to running your business so it's important you have good controls to protect your cash!!
A cash management tool used to plan the timing and amount of cash disbursements is referred to as to as which of the following?
annuitization
What is imprest fund system?
The imprest fund system is a system of control of cash which requires that all cash receipts should be deposited intact and all cash disbursements should be made by means of check.This is the one usually followed in handling petty cash transactions.
The total of the cash disbursements column of the cash disbursements journal is posted to the cash account as a?
credit
What is the purpose of preparing a voucher?
To safeguard all cash disbursements
Efficient cash management will aim at maximizing the availability of cash inflows by decentralizing collections and decelerating cash outflows by centralizing disbursements discuss?
"Efficient cash management will aim at maximizing the availability of cash inflows by decentralizing collections and decelerating cash outflows by centralizing disbursements" Discuss
What are the weakness in internal control over cash disbursements?
It's important to have good controls over your cash. Otherwise, you may find your cash disappearing! A few examples include ensuring only certain people in the company are signatories (i.e. can sign checks), have access to bank account information, and can create bank accounts. Cash is critical to running your business so it's important you have good controls to protect your cash!!
A cash management tool used to plan the timing and amount of cash disbursements?
Accounts Payable Report
A cash management tool used to plan the timing and amount of cash disbursements is referred to as to as which of the following?
annuitization
What is imprest fund system?
The imprest fund system is a system of control of cash which requires that all cash receipts should be deposited intact and all cash disbursements should be made by means of check.This is the one usually followed in handling petty cash transactions.
What are some common methods for the internal control of cash?
An allowance.Here are some additional controlsFor Cash receipts> Keeping Cash handling and Book Keeping separate> Daily deposit of cash receiptsFor Cash disbursements> Making all disbursements by cheque (other than petty cash)> Keeping the Cheque book under lock and key.> Sign checks only if adequate documentation is presented> Have only higher-level personnel sign checks (neverthe bookkeeper!)> Prepare bank reconciliations.> Keep petty cash in a safe place.> Execute Fidelity bonds on employees in positions of trust, such as book-keepers. (Fidelity bonds are insurance policy taken against the risk of dishonesty by employees.)
What is the Easy definition for non accrual accounting?
That would be Cash Basis accounting and the only entries recorded are Cash Receipts and Cash Disbursements.
Internal control procedures for cash receipts require that?
go to study
What are the estimated cash disbursements for inventories for the budget period?
From purchases. after getting the required purchase.
Can you find a cash disbursements journal for medical office administration?
Yes, I am learning it in school right now
