User Account

All Pages

Which internal control procedure needs strengthening

Assignment Help Financial Accounting
Reference no: EM132888807

Problem 1: In the following situation, which internal control procedure needs strengthening?

At Hofstra Services, the junior accountant collects cheques and cash from customers and records the transactions into the Journal. The controller approves the journal entries and bank reconciliations. The treasurer signs cheques and approves contracts.

A. Documents and records

B. Separation of duties

C. Assignment of responsibilities

D. Competent, reliable and ethical personnel

Reference no: EM132888807

Questions Cloud

How much is the carrying value of the airport land rights : If the asset was recorded at fair value, how much is the carrying value of the airport land rights as of December 31, 2020? Solutions must be in good
Prepare the journal entries to record sale of the bonds : Taylor Company issued $100,000 of 13% bonds on January 1, 2019. Prepare the journal entries to record sale of the bonds
Describe the four japanese terms used in tqm : Describe the four Japanese terms used in tqm and give an example of how they might apply to a particular product
Regarding social security policy : Regarding Social Security policy, data was presented regarding the impact of the program on moving senior citizens and others out of poverty.
Which internal control procedure needs strengthening : Which internal control procedure needs strengthening? At Hofstra Services, the junior accountant collects cheques and cash from customers.
Make journal entries to record issue of bonds on January : Make the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30, 2019, December 31, 2019
Rule of law making sure to include all elements of any law : Introduce the concepts from a particular, state the Rule of law making sure to include all elements of any law,
How the negotiation between two parties took place : Negotiation Case study between Disney and Lucasfilm, Explain how the negotiation between these two parties took place.
What is the balance of ordinary share capital as of december : What is the amount if additional paid in copital at December 31, 2018? What is the balance of Ordinary share capital as of December 31, 2018?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd