Bank reconciliation (short discussion post)

Anonymous
timer Asked: Oct 16th, 2018
account_balance_wallet $5

Question Description

For this module's Excel's assignments, you were required to reconcile the cash account. Because QuickBooks allows this as a press of a button once outstanding checks and deposits in transit are recorded, this is often done within the accounting department. As part of internal control procedures, the bank reconciliation should be done by someone outside the accounting function.

What control procedures should be put into place to ensure the bank reconciliation fulfills its purpose of internal control? How would you create the separation of duties needed? How will you document this for audit purposes?

Tutor Answer

peachblack
School: Duke University

Please see attached. Let me know if you need edits.

Outline

Introduction
Body
Conclusion
References


Running head: BANK RECONCILIATION

1

Bank reconciliation
Student’s name
Course number – the name of course
University name
Instructor’s name
Date

BANK RECONCILIATION

2

Bank reconciliation
The control procedures that should be put into place to ensure the bank reconciliation
fulfills its purpose of internal control
Bank reconciliation is the most common control procedure. In every business
organization,...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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