Business Finance
University of Phoenix Tools for Business Decision Making Presentation

University of Phoenix

Question Description

I’m studying and need help with a Accounting question to help me learn.

Assignment Content

  1. Create a 10- to 15-slide presentation in which you:
    • Identify the principles of internal control.
    • Explain the use of cash and internal controls to prevent fraud.
    • Explain why corporations invest in stocks and debt securities.
    • Describe how debt and stock investments are reported in financial statements.
    • Evaluate the effects of unusual or irregular items on financial statements.

    Create a 1-page handout to accompany your presentation.
  2. Cite 3 peer-reviewed, scholarly, or similar references to support your presentation.
  3. Format your citations according to APA guidelines.
  4. Submit your assignment.

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Final Answer

Attached.

Internal Control
Student’s Name:
Professor’s Name:
Course Title:
Date:

Overview


Internal control refers to various activities
that are included in the normal operating
processes of an organization.



These activities protect the organizational
assets, reduce the possibility of errors, and
guarantee the execution of practices
effectively.



Internal control consists of two categories,
namely, control environment and control
procedures.



A productive control environment
supplements precise control procedures.

Principles of Internal Control


An effective internal control process has various principles that
include



A clearly designed accounting system



Competent team



Division of work



Separation of record-keeping from operational responsibility

Principles of Internal Control
(Continued)


Separation of
asset custody
from
accounting



Supervision



Sound Practice



Internal audit

Fraud Prevention
a. The Use of Cash Control


Two major control
processes are necessary for
cash processes.



Such controls are
independent verification
and separation of duties



Overs...

MercyK254 (19786)
UIUC

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