accounting

posted by .

Select a business in your community and observe its internal control over cash receipts and cash payments. The business could be a bank, bookstore, restaurant, department store, or other retailer. What are the strengths and weaknesses? What would you do to correct the weaknesses?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. accounting

    Joe Brown invests $10,000 into his new business. How would the journal entry for this transaction be entered in the journal?
  2. Accounting

    I have almost completed my assignment, but am stuck on this question. I researched my text and other outside sources and can't seem to find the answer. Can anyone provide any guidance on this for me?
  3. accounting

    Why is a bank reconciliation considered an internal control over cash?
  4. accounting

    What are some internal controls related to cash?
  5. business

    Listed below are five procedures followed by The Beat Company. Several individuals operate the cash register using the same register drawer. A monthly bank reconciliation is prepared by someone who has no other cash responsibilities. …
  6. business

    A petty cash fund of $100 is replenished when the fund contains $3 in cash and receipts for $93. The entry to replenish the fund would debit Cash Over and Short for $4. credit Miscellaneous Revenue for $4. credit Cash Over and Short …
  7. accounting

    Please help me. acc225 Internal control recommendations •Complete Exercise 8-1 What internal control procedures would you recommend in each of the following situations?
  8. Finance

    Imagine the CFO of a company has asked you, the auditor, to review the internal controls for cash receipts and to evaluate its cash management of accounts. Prepare a one page letter to the CFO addressing the following questions: 1. …
  9. accounting

    Bill has just started working for a major grocery store as a check-out clerk. Mason is training him in the duties of the new position. At the end of the first day, Bill and Mason are counting the cash in their drawer and reconciling …
  10. auditing

    Bill Jensen, a staff member of Zhan & Co., CPAs, has given you the following list of what he refers to as “internal control deficiencies” for the Zabling Co. audit and has asked you to review each point and make certain that …

More Similar Questions