Accounting - Control and Monitoring of Cash
Gain better understanding of bank reconciliation, cash transactions and receipts, checking account, and petty cash.
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Managing and monitoring credit and collection, cash allocation, disbursement, account payable, and invoicing are important skills every accountant must learn. With this course, you will study the accounting practices and procedures for the control and monitoring of cash. You will learn that internal controls help ensure the integrity of financial and accounting information, promote accountability, and prevent fraud in a company. You will also delve into the importance of cash control.
You will then look into the bank checking account. You will learn that a checking account is a deposit account held at a financial institution that allows you to put your money either in the form of checks or cash into one account from which you can then write checks or withdraw cash. You will also look into the petty cash fund and bank reconciliation which is the process of ensuring that a company's records such as the check register and balance sheet are correct.
For any business or organization, the need to control and monitor cash transactions to ensure the efficient operation of the business is vital. Upon the completion of this accounting course, you will gain a better understanding of the importance and function of internal control, be able to calculate, analyze and use the financial results-quick ratio, and a whole lot more! Check out this course and learn how to control and monitor daily cash transactions within an enterprise today.
Module 1: Accounting - Control and Monitoring of Cash
Prerequisites and Navigation
Control of Cash
The Bank Checking Account
Petty Cash Fund
Module 2: Accounting - Control and Monitoring of Cash Assessment
Having studied this accounting course you will be able to:
- Describe the necessity for and features of internal control;
- Define cash and list the objectives sought by management in handling a company's cash;
- Identify procedures for controlling cash receipts and disbursements;
- Prepare bank reconciliation statements and make necessary journal entries based on that schedule;
- Explain why a company uses a petty cash fund, describe its operations, and make the necessary journal entries;
- Calculate, analyze and use the financial results-quick ratio.
All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:
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