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Week 5 Discussion
- What are effective controls for cash and why are these controls considered to be effective?
- List the principles of internal control activities and describe one of the principles
- Define the five primary components of internal control systems.
- What are some of the internal control principles that surround the cash disbursement function?
- What are some of the components of a bank reconciliation? Why is one performed?
- What is a cash budget?
- What are some of the internal control principles that surround the cash receipts function?
- Describe the operation of petty cash. Is it still a necessary function considering the electronic world we are currently living?
Please put the question with your response and Please make sure each response is at least 100 words