liquidation of cash advances provided for under COA Circular No. 90-331 dated May 3‚ 1990. 1. RATIONALE The resort to the cash advance system despite certain problems has been recognized as a facilitative tool in the financial operations of the government. There is therefore a need to continually update the pertinent regulations in order to provide for a more efficient and effective control over the granting‚ utilization and liquidation of cash advances. 2. GENERAL PRINCIPLES Ideally‚ cash should be
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Internal Audit Report To Board of Directors of Romek Con-fab (Pvt) Ltd for month ended 31th December 2012. 1. VERIFICATION OF PETTY CASH We have checked all petty cash vouchers with relevant supporting documents. Physical Cash count was carried out as at 31th January 2013 and details are as follows (Petty Cash). Note/Coin No of Coin/Note Value 2000 X 1 2000.00 1000 X 1 1000.00 500 X - - 100 X 3 300.00 50 X - - 20
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Choosing the Right Medium Learning Team C COM/TM541 August 2‚ 2010 University of Phoenix Kudler Fine Foods has decided to upgrade the cash registers in three stores. The new registers are scheduled for installation in six weeks‚ and various members of the cashier‚ management team and computer support specialists will require training on the proper use of the new equipment. Five methods are under review for training implementation; oral presentation‚ written report‚ video‚ e-mail‚
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handle the recording process. 2. Principle violated is establish responsibilities. Divided responsibilities for related transactions. There should be rules set in place where no petty cash payments should happen while Jeff is at lunch. If for some reason this can’t be possible Jeff and Jose should count the cash before Jeff leaves and when he returns. This prevents any book errors. 3. Principle violated is safeguard assets. The information saved for backup should be stored in another location
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CASH BUDGET for HAMPTON MACHINE TOOL(000 $) CURRENT September October November December Receipts: A/R Collection(assumes 30-day;Oct& Nov. less advances of $840 and $726‚ respectively) Bank Loan Total Cash Inflow Expenditures: A/P Payment(paid in 30 days) Other Op. Outlays CAPITAL EXPENDITURE Taxes Interest Loan Principal Dividends Total Cash Outflow Beginning Cash Net Monthly Cash Flow ENDING CASH 684.000 2243.000 1323.000 2022.000 779.000 350.000 2136.000 1604.000 2369.750 January Sales -Advances
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THE PROBLEM OF FINANCIAL RECORD-KEEPING IN SMALL BUSINESSES According to Dictionary.com‚ record-keeping is the maintenance of a history of one’s activities by entering data in ledgers or journals and putting documents in files. “Taking time to organize a good system can be tedious and time consuming‚ but it only takes one visit by a tax auditor or a turndown for a loan by a bank to convince any business owner that an organized system would be useful.” (http://www.smallbusinessnotes.com/operating/finmgmt/recordkeeping
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after tax for the period was RM139.7 million compared to RM104.8 million in the same quarter of 2013. The Group’s cash from operations was RM78.8 million‚ compared to RM240.3 million in the immediate preceding quarter ended 31 December 2013. Net cash flow in the quarter amounted to a RM84.7 million outflow‚ as cash out flows from investing activities exceeded operating and financing cash inflows. Second quarter 2014 (2Q14) The Group recorded revenue of RM1310.9 million for the quarter ended 30 June
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System 8 – Recommendations for Improving the cash handling‚ Payroll & Accounting Systems 9 – Cost benefit analysis 10 - Conclusion 11 - Appendices 1) Terms of Reference 1.1 This project has been prepared to fulfill the criteria of Unit 10‚ managing systems and people in the accounting environment of Level 4 AAT. 1.2 The objectives of this report are: To identify the current weaknesses in the payroll and cash handling systems within Cookridge Carpets ltd
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What are the relevant cash flows that General Foods should use in evaluating the Super Project? In particular‚ how should management deal with such issues as Test-market expenses? Overhead Expenses? Erosion of Jell-O contribution margin? Allocation of charges for the use of the excess agglomerator? The relevant cash flows that General Foods should use in evaluating the Super Project are considered Incremental cash flows and are “the changes in the firm’s cash flows that occur as a direct
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References: • Questionnaires answered by; COLFIRE’s finance department employees (20 persons). • Article via Manuals and Documents Company’s manual: - Purchases section page 27 (updated 2002) - Cash receipts section; page 42 (updated 2005) • Internet sources 1. http://colfire.com/LinkClick.aspx?fileticket=k__MbH0Deo8%3D&tabid=62&mid=453 2. http://www.businessdictionary.com/definition/internal-control.html
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