f06Accounting Systems, Internal Controls, and CashBusiness(公司金融会计)

1、C6 - 1Learning ObjectivesPower Notes1. Basic Accounting Systems2. Internal Control3. Controls Over Cash4. Internal Control of Cash Receipts5. Internal Control of Cash Payments6. Bank Accounts: A Cash Control7. Bank Reconciliation 8. Petty Cash9. Balance Sheet Cash Presentation10. Financial Analysis

2、and InterpretationChapter F6C6C6 - 2 Internal Control Framework Cash Receipts and Controls Cash Payments and Controls Bank Reconciliation Petty Cash Accounting Ratio of Cash to Current LiabilitiesSlide # Power Note Topics3917232728 Note: To select a topic, type the slide # and press Enter.Power Note

3、sChapter F6C6 - 31. Control Environment Control EnvironmentC6 - 41. Control Environment2. Risk Assessment Risk AssessmentControl EnvironmentC6 - 51. Control Environment2. Risk Assessment3. Control Procedures Control ProceduresRisk AssessmentControl EnvironmentC6 - 61. Control Environment2. Risk Asse

4、ssment3. Control Procedures4. MonitoringMonitoringControl ProceduresRisk AssessmentControl EnvironmentC6 - 71. Control Environment2. Risk Assessment3. Control Procedures4. Monitoring5. Information and CommunicationCommunicationMonitoringControl ProceduresRisk AssessmentControl EnvironmentC6 - 8 Comp

5、etent Personnel Rotating Duties Mandatory Vacations Separating Responsibilities for Related Operations Separating Accounting and Asset Custody Proofs and Security MeasuresC6 - 94Many companies need several cash accounts to account for different cash categories and funds.4Most companies have multiple

6、 bank accounts. The title for each bank account should be:4Preventive controls protect cash from theft and misuse.4Detective controls are designed to detect theft or misuse of cash and are also preventive in nature.C6 - 101. Over the counter from cash customers. Use of a cash register is an importan

7、t control.2. Received in the mail from credit customers.Cash is in the form of checks.All cash is sent to the Cashiers Department.An employee prepares a bank deposit ticket and makes a bank deposit.The bank deposit record is sent to the Accounting Department where it is recorded.Cash is normally rec

8、eived from two sources:C6 - 11Cash 3,142.00Cash Short and Over8.00Sales3,150.00May 08To record days cash sales. Actual cash received is less than cash register receipts.C6 - 12Cash 3,142.00Cash Short and Over8.00Sales3,150.00May 08To record days cash sales. Actual cash received is less than cash reg

9、ister receipts.A debit in the Cash Short and Over account represents an expense.C6 - 13Accts. ReceivableSalesCashPURCHASEORDERSALESORDER11A purchase order is received and a sales order is prepared.C6 - 14Accts. ReceivableSalesCashPURCHASEORDERSALESORDERSHIPPINGREPORT121A purchase order is received a

10、nd a sales order is prepared.2Merchandise is shipped and a shipping report is prepared.C6 - 15SALESINVOICEAccts. ReceivableSalesCashCreditDebitPURCHASEORDERSALESORDERSHIPPINGREPORT1231A purchase order is received and a sales order is prepared.2Merchandise is shipped and a shipping report is prepared

11、.3A sales invoice is prepared and sent to customer.C6 - 16DEPOSITRECORDSALESINVOICEAccts. ReceivableSalesCashCreditDebitCreditDebitPURCHASEORDERSALESORDERSHIPPINGREPORT12341A purchase order is received and a sales order is prepared.2Merchandise is shipped and a shipping report is prepared.3A sales i

12、nvoice is prepared and sent to customer.4Cash is received from customer, deposited, and recorded.C6 - 171. Cash controls must provide assurance that payments are made for only authorized transactions.2. Cash controls should ensure that cash is used efficiently.3. A voucher system provides assurance

13、that what is being paid for was properly ordered, received, and billed by the supplier.C6 - 18Accts. PayableCashMerchandisePURCHASEORDER11A purchase order is sent to a supplier.C6 - 19Accts. PayableCashMerchandisePURCHASEORDERRECEIVINGREPORT121A purchase order is sent to a supplier.2Merchandise is r

14、eceived and a receiving report is prepared.C6 - 20VOUCHERAccts. PayableCashMerchandiseCreditDebitPURCHASEORDERPURCHASEINVOICERECEIVINGREPORT1231A purchase order is sent to a supplier.2Merchandise is received and a receiving report is prepared.3A purchase invoice is received and a voucher is prepared

15、.C6 - 21VOUCHERCHECKAccts. PayableCash MerchandiseCreditDebitCreditDebitPURCHASEORDERPURCHASEINVOICERECEIVINGREPORT12341A purchase order is sent to a supplier.2Merchandise is received and a receiving report is prepared.3A purchase invoice is received and a voucher is prepared.4Cash is paid to the su

16、pplier and recorded.C6 - 22CHECKAccts. PayableCashCreditDebit21Cash received on account from customers.DEPOSITRECORDAccts. ReceivableCreditDebit12Cash paid on account to suppliers.C6 - 23Power NetworkingBank ReconciliationJuly 31, 2003Balance per bank statement$3,359.78Add deposit of July 31, not re

17、corded by bank816.20$4,175.98Deduct outstanding checks:No. 812$1,061.00No. 878435.39No. 88348.601,544.99Balance per depositors records$2,549.99Add note and interest collected by bank408.00$2,957.99Deduct: Customer NSF check$300.00Bank service charges18.00Error in recording Check No. 8799.00 327.00C6

18、 - 24Power NetworkingBank ReconciliationJuly 31, 2003Balance per bank statement$3,359.78Add deposit in transit816.20$4,175.98Deduct outstanding checks:No. 812$1,061.00No. 878435.39No. 88348.601,544.99Adjusted balance$2,630.99Balance per depositors records$2,549.99Add note and interest collected by b

19、ank408.00$2,957.99Deduct: Customer NSF check$ 300.00Bank service charges18.00Error in recording Ck. No. 8799.00327.00Adjusted balance$2,630.99C6 - 25Cash 408Notes Receivable400Interest Revenue8Accounts Receivable - T. Ivey 300Miscellaneous Expense18Accounts Payable - Taylor Co.9Cash 327Jul. 31To rec

20、ord note collected by bank.To record customers NSF check, bank service charges, and error in recording Check No. 879.Jul. 31C6 - 26DateDescriptionP.R.DebitCredit BalanceDateItemP.R.DebitCredit DebitCreditAccount: Cash Account No. 11General JournalGeneral LedgerPage 17/31Balance2,549.997/31Cash 11Not

21、es Receivable400.00Interest Revenue8.007/31Accts. Receivable - T. Ivey 300.00Miscellaneous Expense18.00Accts. Payable - Taylor Co.9.00Cash 11 7/31Balance2,549.997/31J1 2,957.997/31J12,630.99C6 - 27Petty Cash100.00Cash 100.00Office Supplies 50.00Store Supplies35.00Misc. Admin. Expense3.00Cash 88.00 Note: No entry in Petty Cash account when the fund is replenished.Aug. 1To establish a petty cash fund.To replenish the petty cash fund.Aug. 31C6 - 28Solvency is the ability of a business to meet its financial obligations (debts) as they are due.Solv