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Accounting At Your Fingertips, 2e by George R Murray

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3

Accounting for Cash

3.1 Classifying Cash

3.2 The Business Bank Account

3.3 Implementing Internal Controls Over Cash

3.4 Preparing a Bank Reconciliation

3.5 Petty Cash

3.1 Classifying Cash

What’s Included in Cash

What’s Not Included in Cash

Different Accounts for Cash

In this subchapter, we discuss what you can legitimately consider cash for accounting purposes. We also help you decide how to classify items that seem like cash but belong in a different account.

What’s Included in Cash

For most businesses, cash consists of currency and coin on hand or in the bank. It may also include petty cash—a small fund kept at the company to pay miscellaneous ...

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