Acc577

Communication Activity ACC557 BYP8-5 Assignment A letter to Jerry Mays 11/5/2011 adept Mr. Mays During the time at your company, I reviewed the internal controls over lodge off cash usefulness of your company. I found some atomic number 18as of weaknesses deep down the send off cash receipts transition needed to be addressed. Also provided for your convenience be my recommendations for improving the process system. Weaknesses: 1. Checks are revolutionisely endorsed For Deposit Only 2. No contention of the checks is prompt by the person opening the mail 3.The mail is open each by the cashier or by the employee who maintains the accounts receivable records 4.Mail receipts are deposited in the bank weekly by the cashier The endeavor of internal controls is the associate methods and procedures adopted within an organization to sentry duty its assets and to enhance the accuracy and reliableness of its accounting rec ords. While I have no trace that employees are stealing, just currently there is no course to be 100% trustworthy. For this reason, my recommendations for improvements of the mail cash receipts process are as follows: 1.

judicature of Responsibilities: By assigning however superstar person for use of the checks as well as the processing of them, it provides a dafeguard against thieving or errors. When only wiz person open the mail, it is not sure about every(prenominal) incoming checks are forwarded to the cashier. Therefore, one person should prepare the list of checks so that can be compared with daily cash summary. It makes sure that all checks on the lisst ! were deposited. solely mail receipts should be opened in the comportment of two mail clerks. 2. separationism of Duties: The rationale for segregation of duties is: The operation of one employee should, without a duplicate of effort, provide a honest basis for evaluating the work of some other employee. Making one soulfulness responsible for all of the related activities increases the potential for errors and...If you want to vex a full essay, crop it on our website: BestEssayCheap.com

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