Computer Information Science

Computer Information ScienceBusinesses that atomic number 18 average starting to absorb want to limit their operating worth without employing dominations . As ofttimes as possible , they try non to employ much people to handle separate functions in the organization in their desire not to incur to a greater extent expenses for salaries and opposite employees benefits . intrinsic go is a very important management turncock designed to offer reasonable assurance regarding the achievement of objectives and safeguarding of additionsThe initial rule in internal control is to arrive more than one somebody to handle financial procedures . Cashiers essential(prenominal) have their own separate coin registers . Have someone new(prenominal) than the bookkeeper handle the chain fit out and list on the whole capital pass along . Accounts Receivable clerk who has access to customers accounts must(prenominal) not be onlyowed to receive checks . Record keeping must be incessant separate from cash handling . At the time the institutionalize is opened , have all checks endorsed for deposit only with a company stamp . Have the bookkeeper immediately record all cash receipts after the checks have been listed by opposite person . All checks received through the mail atomic number 18 usually forwarded to the cashier for proper recording and issuance of adjudge receipts . See to it that cash receipts have been deposited in the bank by comparing the list with the deposit slips and the cash receipts journal . Proper posting to the accounts receivable ledgers and must be done promptly . Bank reconciliation should be prepared by a person not trusty for cash handling and recording .

Hence , an accountant must not prepare bank reconciliations . Reconciliation should be reviewed by persons not responsible for the said functions . Breach of internal control may result to embezzlementDepreciation is a means of allocating the exist of nippy summations to periods benefiting from asset use . It is the compensation for the use of fixed asset , moderateing the basic accounting principle , proper matching of cost against revenue . Since realm is not subject to wear and rakehell as are twists and equipment , the ordinary method of ascertaining derogation does not apply to land . Land improvements such as building and other structures built upon the land are subject to depreciation . A basic doctrine in tax honor is that land is not depreciableReferenceIIT Cash control policy . Retrieved on July 27 , 2007 from (http /www .iit .educontroller /cashcontrol .html Computer PAGE 1PAGEPAGE 1...If you want to look at a full essay, order it on our website: BestEssayCheap.com

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