December 2011
Intermediate to advanced
1576 pages
59h 46m
English
Content preview from Financial and Managerial Accounting
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Chapter 7 Fraud, Internal Control, and Cash
Learning Objectives
After studying this chapter, you should be able to:
- Define fraud and internal control.
- Identify the principles of internal control activities.
- Explain the applications of internal control principles to cash receipts.
- Explain the applications of internal control principles to cash disbursements.
- Describe the operation of a petty cash fund.
- Indicate the control features of a bank account.
- Prepare a bank reconciliation.
- Explain the reporting of cash.
Feature Story
Minding the Money in Moose Jaw
If you're ever looking for a cappuccino in Moose Jaw, Saskatchewan, stop by Stephanie's Gourmet Coffee and More, located on Main Street. Staff there serve, on average, 650 cups of coffee a day, including both regular and specialty coffees, not to mention soups, Italian sandwiches, and a wide assortment of gourmet cheesecakes.
“We've got high school students who come here, and students from the community college,” says owner/manager Stephanie Mintenko, who has run the place since opening it in 1995. “We have customers who are retired, and others who are working people and have only 30 minutes for lunch. We have to be pretty quick.” ...
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