For any business or organization, the need to control and monitor cash transactions to ensure the efficient operation of the business is vital. In Alison's free online accounting course, procedures and structures for establishing internal control such as control of cash receipts and cash disbursements, proper use of the bank checking account, preparation of the bank reconciliation, and protection of petty cash funds are all explored in detail.
An overview of the five components for internal financial control is described and this provides a structure for developing the necessary accounting procedures needed to ensure the safe handling of cash within an organization.
Alison's free online accounting course will be of great interest to entrepreneurs and business professionals who would like to better understand how to control and monitor daily cash transactions within an enterprise, and to any learner who is interested in accounting as a future career.
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 study. To successfully complete a course you must score 80% or higher in each course assessments. Upon successful completion of a course, you can choose to make your achievement formal by purchasing an official Alison Diploma, Certificate or PDF.
Having an official Alison document is a great way to share your success. Plus it’s:
- Ideal for including in CVs, job applications and portfolios
- An indication of your ability to learn and achieve high results
- An incentive to continue to empower yourself through learning
- A tangible way of supporting the Alison mission to empower people everywhere through education.
Accounting - Control and Monitoring of Cash
Global Text Project
Modules List( 2 )
ACCOUNTING - CONTROL AND MONITORING OF CASH
1 Accounting - Control and Monitoring of Cash
Learn more about accounting practices and procedures for the control and monitoring of cash.
- Prerequisites and Navigation
- Control of Cash
- Internal Contols
- Controling Cash
- The Bank Checking Account
- Bank Reconcilliation
- Petty Cash Fund
END OF COURSE ASSESSMENT
Module 2: Accounting - Control and Monitoring of Cash Assessment
You must score 80% or more to pass this assessment.
- Control of Cash Assessment