Optimal Accounting for Cash
Streamline cash handling by redesigning inefficient check and cash processes without sacrificing essential safeguards. This course explains how traditional controls create bottlenecks, then introduces alternative approaches that reduce processing time and administrative burden. You will implement the core controls needed to deter theft while understanding how these changes affect the annual audit, the closing process, and fraud risk, creating a more efficient and controlled cash environment.
Format
PDF Course
Course Lists
Duration
1 Hour
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 2025
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.
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