ACCT 2301 Week 7 Discussion 1 | Assignment Help | Central Texas College
- Central Texas College / ACCT 2301
- 08 Aug 2020
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ACCT 2301 Week 7 Discussion 1 | Assignment Help | Central Texas College
Identify the principles of internal control. Explain the applications of
internal control to cash receipts and cash disbursements and describe the
preparation of a bank reconciliation.
All businesses establish some form of internal control system. As you do
your weekly shopping, what are some of the internal controls you see in place
at various businesses? Discuss some of the strengths and weaknesses you
observed in the systems.
What are some of the benefits of establishing a petty cash account? What
are the advantages provided by a bank account? Why should you prepare a bank
reconciliation each month for your own personal bank account?
USA 
India