Accounting Week 4 Assingment1

Associate Level Material Appendix B hard currency Management Matrix Directions: using the matrix, list how each of the principles of inner control works, and give an instance for each. Next, list how each of the principles of currency management works, and give an cause for each.  |Principles of Internal Control |How it whole kit |Example | |Establishment of responsibleness |Assigning a peculiar(prenominal) business to an individual. |An employee is given the responsibility of handling a exchange | | | |drawer (a cashier), and ensuring the accurate summate is in the | | | |drawer at the close of their shift.

| |Segregation of duties |Separating duties at work among multiple state in different |A psyche responsible for make petty cash purchases is not the | | ! |groups. This reduces the opportunity and risk of theft. | corresponding person who has the responsibility of transcription those | | | |transactions. Two different people for two tasks. | |Documentation procedures |Pre-numbered and accounted for, documents that be sent to the |A person has 12 documents that are dated, besides not in order. The | | | proper(ip) department....If you want to get a full essay, order it on our website: BestEssayCheap.com

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