STANDARDS OF INTERNAL CONTROL Issued April 2007 Table Of Contents I. II. III. IV. V. VI. VII. 1.0 2.0 3.0 4.0 5.0 Preface Objective Scope Process Responsibility Fraud Revisions Introduction General Control Requirements Quick Reference Revenue Cycle 2.1 Order Entry/Edit 2.2 Loan/Financial Aid 2.3 Billing 2.4 Accounts Receivable 2.5 Collection 2.6 Cash Receipts Procurement Cycle 3.1 Supplier Selection and Retention 3.2 Purchasing 3.3 Receiving 3.4 Accounts Payable
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compute net accounts receivable. a. Accounts Receivable has a balance of $14‚000. The Allowance for Uncollectible Accounts has a credit balance prior to adjustment of $300. An aging schedule prepared on December 31 reveals $1‚100 of uncollectible accounts. b. Accounts Receivable has a balance of $25‚700. The Allowance for Uncollectible Accounts has a debit balance prior to adjustment of $400. An aging schedule prepared on December 31 reveals $2‚300 of uncollectible accounts.
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Pepsi Internal Control Procedures Pam Sharratt XACC/210 April 10‚ 2013 Cito Vanegas Pepsi Internal Control Procedures The Pepsi Co. has many shareholders that they have to answer too when certain things just do not seem to add up. They have different teams of management to oversee every area of operation and to make sure the company is running effectively and gaining the best profit possible. Like other companies over the last few years they have had their ups and downs in certain areas.
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President of LBJ Re: Internal Controls My Recommendation Impact of going public Public companies‚ as the result of the passing of Sarbanes Oxley Act of 2002‚ are necessary to document their controls‚ assess the documented controls and have their external auditors examine their testing of controls and note down a report about the efficiency of controls surrounding financial reporting. As a result‚ there will be supplementary work on designing‚ testing and auditing of controls if you come to a decision
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ACCOUNTING SYSTEMS‚ INTERNAL CONTROLS‚ AND ETHICS Prepared for the course team by Vimlesh B. Narayan Unit 1 Contents Unit 1 Contents 2 Concept Map 3 Learning Outcomes 4 1.1 Introduction 5 1.2 Accounting System Design 6 System Objectives and Design Factors 6 Designing the System 8 1.3 Internal Control Systems 17 Objectives of Internal Control Systems 17 Structure of Internal Control Systems 18 Why You Should Consider the Components? 21 Internal Control Principles and Limitations
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timely matter; Verifies and certified documents and maintained files in order; Maintained inventory records and financial information. University Of Valley‚ Cali Colombia 09-90 – 11-95 Quality Control - Chemical Analyst * Responsible for running processes and quality control; Took samples‚ analyzed plant materials‚ and performed environmental analysis; Conducted quality analysis of food products‚ * Collected and analyzed raw waste‚ performed chemical‚ biological‚ and physical
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THE IMPACT OF MICROFINANCE INSTITUTIONS ON GROWTH OF SMES A CASE STUDY OF KONYOKONYO MARKET -JUBA BY TABU FLORENCE S09B24/801 A RESEARCH PROPASAL SUBMITTED TO THE FACULTY OF BUSINESS AND ADMINISTRATION IN PARTIAL FULFILLMENT FOR THE REQUIREMENTS OF THE AWARD OF DEGREE OF BACHELOR OF PROJECT PLANNING AND ENTREPRENEURSHIP UGANDA CHRISTIAN UNIVERSITY MARCH 2012 LIST OF ACRONYMS MFIs Microfinance institutions
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A review of the effectiveness of the accounting system and internal controls of Cookridge & Cookridge Carpets ltd with any recommendations for improvement. Submitted by: Rita Mezher AAT student membership number: 10417659 Date: This report is submitted for assessment of the AAT unit ‘Internal control and accounting system.’ TABLE OF CONTENT 1. Term of reference 2. Executive summary 3. Methodology 4. Introduction to Cookridge and Cookrigde Carpets Ltd 5. Analysis and evaluation
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study. Internal control is define as the whole system of internal control‚ financial and otherwise established by management in order to carry on the business of the enterprise in an orderly manner and efficient‚ ensure adherence to management policies‚ safeguard the assets and secure as far as possible the completeness and the accuracy of records. - Dr. Kwame Aveh. (Auditing page 82-83‚ 2010) The individual components of an internal control system are known as controls or internal controls. Internal
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Case Study 2 – Internal Control 1. Inform the President of any new internal control requirements if the company decides to go public. As per the accident that happened in the company about some employees was viewing pornography on company computer and he had a hard time to get his employees admitted that they were the one who doing it. He should use limit access by individual passwords for each person to log in the computer systems. To make sure that which person was log on in the computer and
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