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Outline the key features of policies

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Problem 1: Outline the key features of policies and procedures relating to processing the following financial transactions, in the table below.

  • Policies and procedures required for financial transactions
  • Key features in policies and procedures relating to the processing of the financial transactions

a. organisational policy and procedures for preparing and processing invoices

b. organisational input standards and journal authorisation procedures

Journals are prepared accurately and completely, and items batched within organisational timelines. Batch items are precisely matched to initial receipt records. Journals are authorised in accordance with organisational policy and procedures

c. security procedures for handling electronic payments, cheques and cash

Reference no: EM132958833

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