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Why is it important for a business to setup internal control measures over fixed assets?
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The plan of organization and all the related methods and measures adopted within a business to safeguard its assets and enhance the accuracy and reliability of its accounting records?
Internal Control
Describe two quality control measures a business should adhere to?
two quality control measures a business should adhere are: 1.sanitation inspection 2. bereau of standards
What is the primary purpose of effective internal control in an organization?
TO improve on the organizations performance,through making and implementing policies,formulating strategies,thus survival of the business,since business survival is a mere dream if the internal control of the business is lax.
The objectives of internal control are to?
Internal control serve as alert systems for businesses. Once they have established triggers, they can operate their business knowing they won't have too many mistakes with internal controls in place.
Difference between internal audit and internal control systems?
Distinguish between internal audit and internal control.
What is internal control of an organization?
strategies,thus survival of business since business survival is a mere dream of internal control
The plan of organization and all the related methods and measures adopted within a business to safeguard its assets and enhance the accuracy and reliability of its accounting records?
Internal Control
Why is control important at all levels of the organization?
internal controls are important in organizations for positioning a system of boundaries that will benefit the basic structure of a business.
What is external influenece?
Internal and External influences of a business there are many. Internal means things that the business can control.
Describe two quality control measures a business should adhere to?
two quality control measures a business should adhere are: 1.sanitation inspection 2. bereau of standards
What is the primary purpose of effective internal control in an organization?
TO improve on the organizations performance,through making and implementing policies,formulating strategies,thus survival of the business,since business survival is a mere dream if the internal control of the business is lax.
Measures of internal control for fixed assets?
There are quite a few measures of internal control for fixed assets. Insurance coverage for asset exposure, correct depreciation calculated and applied after each period, tax reports filed for each jurisdiction, and approval process for Capital Expenditures.
The objectives of internal control are to?
Internal control serve as alert systems for businesses. Once they have established triggers, they can operate their business knowing they won't have too many mistakes with internal controls in place.
What is Total Quality Control and how is it important to a typical business setup?
why quality control is more important for any business (prodction and sevicing)?
What revenue control measures can be applied to minimize leakages?
Non- revenue water can control minimize leakage. This is a type of business.
Three internal control objectives for financial reporting?
There are actually four internal control objectives of financial reporting. They are 1) Control Environment 2) Risk Assessment 3) Information and Communication Systems 4) Monitoring. These internal control objectives help aid in presenting financial statements that are free of material misstatements. But just because internal control measures are implemented, doesn't mean people cannot circumvent those controls.
What are the different types of control?
1,internal control i,ewhen looking at the managing systems in the business and auditing 2,birth control i.emethods of preventing to conceive or bearing
