ACC 220 internal_cash_control

Apr 16th, 2015
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Hi there.This document contains A+ work for the course ACC 220.I am sure that this work will not disappoint you.This document will give you the correct answers to the respective questions about the particular course.

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Running head: INTERNAL CASH CONTROLInternal Cash ControlStudent Name College NameInternal Cash ControlThe Idaho Company seems to be a company that has the utmost trust in its employees and their ability to make the correct decisions. By using checks that are not pre-numbered for payments of bills and services the company is showing this trust. Another part where the company shows its trust is by allowing the employees to keep blank checks in an unlocked file cabinet. Even if the purchasing agent and the treasurer are as honest as can be the checks are still in danger of being stolen by others. The Idaho Company seems to be in need of a better system to help maintain and help control the use of their funds, without a better system of control this company will soon know the error of their ways.With the internal controls of accounting being ignored in this company the treasurer or even the purchasing agent could find themselves with easy access to free money. One thing that all companies should know is that after people work together for long periods of time a certain relationship builds. By allowing these two employees full control over the company's finances the chance of them working together to line their pockets grows with every passing day. To keep the owners off their trail it only takes an adjustment in their books, false purchases and even checks for services not rendered could give the two employees money for themselves. The treasurer having full con

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