Optimal Accounting for Cash

The processing of checks and cash is one of the most inefficient processes in a business, since it is blanketed by the controls needed to minimize theft. Optimal Accounting for Cash shows how to sidestep these inefficient processes by taking a different approach to the handling of checks and cash. The course also covers the most essential controls needed to minimize the theft of cash, and notes how these changes impact the annual audit, closing the books, and instances of fraud.
Format

PDF Course

Level

Overview

Duration

1 Hour

Related Courses
Bank Reconciliations
Cash Controls

Course Information

Author: Steven Bragg
Course Number: AC1116

Learning Objectives
  • Recognize the instances in which wait times can delay the cash receipts process.
  • Cite the controls that can be applied to check receipts, cash receipts, and petty cash.
  • State the advantages and disadvantages of using a bank lockbox.
  • Recognize the implementation requirements of an automated cash application system.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: February 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.