1997 International Risk Insurers Lagos ABRIV NIG LTD Responsibilities/duties • Summarized all credit purchases‚ credit sales staff debtors and bank loans. • All inventory/goods in transit. • Analysis of petty cash expenses‚ other cash payments (cash purchases). • Bank deposits/identifying non sales deposits. • Drawing up a bank control Account. • Attends to all queries that affect the accounts department. • Direct control of the
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100% (15 out of 15 correct) | Responses to questions are indicated by the symbol. | | | 1. | An SSU’s A. | income and expenditures for the period are equal. | B. | income for the period exceeds expenditures. | C. | expenditures for the period exceed receipts. | D. | spending is entirely financed by credit cards | A surplus position is when income for the period exceeds planned expenditures. (see page 7). | | 2. | Which of the following is an example of indirect financing
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reported as cash. 1. Checking account balance $929‚070; certificate of deposit $1‚417‚000; cash advance to subsidiary of $992‚770; utility deposit paid to gas company $198. 2. Checking account balance $503‚630; an overdraft in special checking account at same bank as normal checking account of $20‚900; cash held in a bond sinking fund $235‚120; petty cash fund $332; coins and currency on hand $1‚460. 3. Checking account balance $606‚360; postdated check from a customer $11‚450; cash restricted due
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Assessment of the OJT/Practicum Program A. New knowledge‚ attitudes‚ and skills acquired I learned the flows and transaction in the Government process. Though‚ most of the work involves papers in procedural ways. The receiving and releasing of memorandum is very essential in a way that affects the flow of the work and it should be submitted on or before deadline‚ so as the require data. As I was expose to this environment‚ it not much different with the projects at schools‚ terms papers that
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1. How does the ASC define a component of an entity? Component of an Entity A component of an entity comprises operations and cash flows that can be clearly distinguished‚ Operationally and for financial reporting purposes‚ from the rest of the entity. A component of an entity may be a reportable segment or an operating segment‚ a reporting unit‚ a subsidiary‚ or an asset group. 2. Are there any conditions that must be met before a component of an entity can be considered discontinued
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Chapter 9 – Auditing the Expenditure Cycle Summary Purchases and Cash Disbursement Procedures Using Batch Processing Technology Many batch system functions are the same as those in a manual purchase system. The main difference is that the routine accounting tasks are automated. Data Processing Department: Step 1 – the purchasing process begins in the data processing department‚ where the inventory control function is performed. The revenue cycle (in retailing firms) or the conversion cycle
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Penny: The biggest questions now days are‚” Should the penny really be abolished and why is the penny still in route like its ten or five cents?” It’s been our smallest-denomination coin for 150 years. But if people are leaving pennies at the cash register‚ is it time to get rid of them? In this essay I am going to argue why we should keep the penny and why people think the penny should stay in route with the rest of the coins. Also why or why not we should keep the penny and if we didn’t where
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12) Questionnaire Checklist for Basic Activities in Expenditure Cycle. Is data encrypted? No. If data is not encrypted then someone who is not authorized can obtain the personal information of suppliers. Is there a recovery mode and is data regularly backed up? No. If a recovery mode and data backup is not in place then data could be lost permanently. Is access restricted to the master file of suppliers? No. If access is not restricted then unauthorized personnel could add fictitious suppliers
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The main crops of Pakistan are classified into food crops and non-food crops. The food crops include wheat‚ rice‚ maize‚ coarse grains‚ grams and other pulses. The cash crops are cotton‚ sugarcane‚ tobacco‚ mustard and sesame. The total area‚ yield and production of each crop is now discussed under separate heads. (A) FOODS CROPS (1) Wheat: Wheat is the principal food crop of the people. It occupies an important position i farming policies. The share of wheat is 3% to GDP. The area under wheat
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Internal Control . III. SPECIFIC PROCEDURES Cash Receipts Purchasing Cash Disbursements Control for Assets Budget Miscellaneous Control Procedures . IV. RESULTS OF INTERVIEWS WITH CHURCHES Development of Survey Presentation of Survey Data V. ANALYSIS OF DATA • 49 Page . · · · · · · · · · 1 2 3 4 6 7 . · 11 18 · 29 34 (Property) 39 43 46 52 statistics Analysis of Cash Receipts . Analysis of Purchasing Analysis of Cash Disbursements Analysis of Control Over
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