Steps in the Daily Control Over Cash Receipts

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  is to separate cash handling duties among different people. With proper separation of duties, no single person has control over the entire cash process.

• Inventory and Cash Control Examples and Best Practices

  is to separate cash handling duties among different people. With proper separation of duties, no single person has control over the entire cash process.

• Audit Internal Controls Questions

  Construct the "Processing Cash Collections" segment of the internal control questionnaire on "Cash Receipts" to be used in the evaluation of internal control over the Spartan Drug Store, Inc.

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  Otherwise anyone can just issue a receipt without remitting the cash to Brown. 2. All cash receipts should be deposited daily regardless of the source of those cash receipts.

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  Any cash shortages or excesses should be identified and recorded in a Cash Short & Over account. Control of receipts from customers on account begins when payments are received (in the mail or otherwise).

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  The next morning, Susan will give the bank deposit slip to the accountant to make an entry in the cash receipts journal.

• This identifies internal control weaknesses & provides fixes

  As a new auditor for the CPA firm of Croix, Marais, and Kale, you have been assigned to review the internal controls over mail cash receipts of Manhattan Company.

• Among the following people, the most appropriate person to r

  Deposits customers' checks daily 2. Is the president's executive secretary 3. Records the cash receipts from customers 4.

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  Based only on the information in the narrative, describe the internal control deficiencies in Slingsdale's internal control over the cash receipts and billing functions.