Describe the various techniques that companies use

Assignment Help Accounting Basics

Reference no: EM13953484

Describe the various techniques that companies use to control cash.

The liquidity of cash makes controls over it very important to have in place.
Cash management means managing the need to have enough cash on hand to ensure cash flow needs but not so much that excess funds earn little return and may be vulnerable to misappropriation.
Bank reconciliations use third-party documents (bank statements) to reconcile differences between the amount in the bank and on the books. Done by an independent party, bank reconciliations are effective control procedures.
Petty cash funds are an effective way to minimize access to large cash accounts to pay for relatively small expenditures.

Reference no: EM13953484

Questions Cloud

Find the angle the light beam makes with the vertical : A film of oil, with an index of refraction of 1.48 and a thickness of 1.80 cm, floats on a pool of water. A beam of light is incident on the oil at an angle, theta = 52.2° to the vertical. Find the angle the light beam makes with the vertical as it..

What smallest resolvable wavelength difference for setup : A Fabry-Perot interferometer with fixed plate spacing t = 1.50mm is used to examine filtered light from a helium lamp, with wavelength lambda = 587.56nm. The plates have reflectance R = 0.950. What is the free spectral range (in nm) for this spacin..

Describe the basic internal control procedures : Control procedures are actions that company personnel take to make sure that policies set forth by management are followed. Important accounting controls are concerned with safeguarding assets and producing accurate and timely financial statements. ..

Importance of internal control to a business : Explain the importance of internal control to a business and the significance of the Sarbanes-Oxley Act of 2002. The Sarbanes-Oxley Act of 2002 required publicly traded companies to improve the documentation and functioning of their internal control..

Describe the various techniques that companies use : Describe the various techniques that companies use to control cash. The liquidity of cash makes controls over it very important to have in place.

What are the visible wavelength in vaccum : In an unidentified ionized atom, only one electron moves about the nucleus. The radius of the n=3 Bohr orbit is 2. 38 x 10^-10m. What is the energy(in electron Volts) of the n=7 orbit for this atom?

Is this a probability distribution. explain why or why not. : Would you suspect that the IDEA surveys sent to South students each term could be biased in the responses received? Why or why not?

Determining the market interest rate : Youngblood Inc. plans to issue $500,000 face value bonds with a stated interest rate of 8%. They will mature in ten years. Interest will be paid semiannually. At the date of issuance, assume that the market rate is (a) 8%, (b) 6%, and (c) 10%.

What is the radius of the curvature of the hubcap : A dedicated sports-car enthusiast polishes the inside and outside surfaces of a hubcap that is a section of a sphere. When she looks into one side of the hubcap, she sees an image of her face 30 cm in back of the hubcap. She then flips the hubcap ..

User Account

All Pages