Solution-Broad principles of internal control

Broad principles of internal control

Assignment Help Cost Accounting

Reference no: EM13536699

1. List the seven broad principles of internal control.

2. Internal control procedures are important in every business, but at what stage in the development of a business do they become especially critical?

3. Why should responsibility for related transactions be divided among different departments or individuals?

4. Why should the person who keeps the records of an asset not be the person responsible for its custody?

Reference no: EM13536699

Questions Cloud

Lifted condensation level : Given a saturation vapor pressure of 57mb, and relative humidity of 50%, find the saturation temperature (temperature at the LCL, Lifted Condensation Level).

Determine the true anomalies for earth : There are some people who believe that Earth has a twin that orbits directly opposite the sun with exactly the same orbital elements and in the saem direction and thus unseen from Earth. The two planets are exactly 180 degrees opposed when they oc..

Compute accounts receivable turnover for 2010 and 2011 : The following information is from the annual financial statements of Waseem Company. Compute its accounts receivable turnover for 2010 and 2011. Compare the two years results and give a possible explanation for any change

What is the length of the accelerator in electrons frame : In Stanford University's Linear Accelerator Machine, electrons are accelerated to a kinetic energy of 50 billion eV. The electron path in the accelerator is 3 km. The speed of these electrons turns out to be about 1.6 cm/s slower than speed of light.

Broad principles of internal control : Internal control procedures are important in every business, but at what stage in the development of a business do they become especially critical?

Changes in the amount of liquid assets : Calculate its days sales uncollected at the end of each year and evaluate and comment on any changes in the amount of liquid assets tied up in receivables.

Prepare a bank reconciliation for chung company : Prepare a bank reconciliation for Chung Company using the May 31 bank statement included a $100 debit memorandum for bank services; Chung has not yet recorded the cost of these services.

Amount of heat absorbed and change in internal energy : Calculate the work done, the amount of heat absorbed, and the change in internal energy during: melting of 1 gram of ice to water at a temperature of O degrees C under a constant pressure of 1 atmosphere. evaporation of 1 gram of water to water vapor..

Headings for a monthly bank reconciliation : Prepare a table with the headings for a monthly bank reconciliation dated September 30 - Bank service charge for September

User Account

All Pages

Broad principles of internal control

Reference no: EM13536699

Reference no: EM13536699

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT