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Type of Internal Control

Type of Internal Control

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"Indicate whether each procedure is an example of good internal control or of weak internal control.
If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated.
"
"Indicate whether each procedure is an example of good internal control or of weak internal control.
If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated.
"

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Accounting

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continuity. standards and procedure to be used by companies for maintaining their records and preparation of financial statements. If it is an example of good internal control. 3. The principles cover various aspects like regularity. Several individuals operate the cash register using the same register drawer. Procedure Good or Weak Related Internal Control Principle 1 Weak Physical control http://classof1. unting&utm_content=footer&utm_campaign=%5BDoc%2BUploads %5D . Ellen May writes checks and also records cash payment journal entries. guidelines. indicate which internal control principle is being followed. 2. periodicity. 1. Indicate whether each procedure is an example of good internal control or of weak internal control.com/homework-help/accounting-homeworkhelp/?utm_source=Scribd&utm_medium=SL_ebook&utm_term=acco *The Homework solutions from Classof1 are intended to help students understand the approach to solving the problem and not for submitting the same in lieu of their academic submissions for grades. Monthly bank reconciliation is prepared by someone who has no other cash responsibilities. One individual orders inventory. 4. Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording. If it is an example of weak internal control. full disclosure etc. prudence. indicate which internal control principle is violated. 5. consistency. Use the table below. Procedure IC Good or Weak? Related Internal Control Principle Solution: The conceptual framework includes principles. while a different individual authorizes payments.Sub: Accounting Topic: Managerial Accounting Type of Internal Control Question: Listed below are five procedures followed by The Beat Company.

com/homework-help/accounting-homeworkhelp/?utm_source=Scribd&utm_medium=SL_ebook&utm_term=acco *The Homework solutions from Classof1 are intended to help students understand the approach to solving the problem and not for submitting the same in lieu of their academic submissions for grades.Sub: 2 3 4 5 Accounting Good Weak Good Weak Independent check Segregation of duties Segregation of duties Topic: Managerial Accounting Adequate documents and records http://classof1. unting&utm_content=footer&utm_campaign=%5BDoc%2BUploads %5D .

com/homework-help/accounting-homeworkhelp/?utm_source=Scribd&utm_medium=SL_ebook&utm_term=acco *The Homework solutions from Classof1 are intended to help students understand the approach to solving the problem and not for submitting the same in lieu of their academic submissions for grades. The list of subject areas in which we offer academic assistance is as given below: 1 Accounting 23 Engineering 24 English 25 Environmental Engineering 26 Environmental Science 27 Essay Writing 28 Finance 29 Financial Accounting 30 General Studies 31 Geography 32 Geology 33 HBS Case Studies 34 History 35 Hospitality Management 36 Human Resource Management 37 Information Systems 38 International Economics 39 International Finance 40 Investment Portfolio Management 41 MS-Office 42 Macro Economics 43 Management Accounting 44 Marketing 45 Mass Communication 46 Materials Engineering 47 Math 48 Mechanical Engineering 49 Medical Science 50 Micro Economics 51 Nursing 52 Operations Management 53 Philosophy 54 Physics 55 Physiology 56 Political Science 57 Psychology 58 Religious Studies 59 Rhetoric 60 Social Studies 61 Social Work 62 Sociology 63 Statistics 64 Taxation 65 Zoology 2 Actuarial Science 3 Anatomy 4 Anthropology 5 Architecture 6 Astronomy 7 Biochemical Engineering 8 Biochemistry 9 Biology 10 Business Law 11 Business Management 12 Chemical Engineering 13 Chemistry 14 Civil Engineering 15 Classical Studies 16 Computer Science 17 Corporate Finance 18 Corporate Strategy 19 Cost Accounting 20 Earth Science 21 Economics 22 Electrical Engineering http://classof1.7763.Sub: Accounting Topic: Managerial Accounting For more details on Classof1 or customized academic assistance please feel free to write to us at learning@classof1.877. unting&utm_content=footer&utm_campaign=%5BDoc%2BUploads %5D .com or call our toll-free number 1.252.

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