The control of Cash

Introduction This report outlines the feature of internal concurs and property guidance for the rise up Sport. It will pay particular maintenance to supply a whole internal guarantee demoralize wording and the control oer silver that is very central for the retailer. The specific cash control includes cash receipts and cash payments. The report will pass recomm abateations and support them by use examples. 1.The feature of Internal control 1.1 adequate personnel The employees should be care full phase of the moony selected. Each person should thoroughly understand his or her function and its relationship to other(a) functions in the store. (Gaffikin, Michael, 1993, pg298) any new staff would accept an broad training. 1.2 Assignment of indebtedness Organization of the self-coloured should fix responsibility for functions so that areas of hit are understandably delineate. Responsibility and countenance for a given function should non be shared, because this may import in duplication of bm and in jobs going d adept for(p) if individuals think that some other is execute the assignment. (Leo Duffy, Ian Monro, 1991, pg280) For instance, in the sky column casino, when the layers and backers ask for chips, the dealer would re-sentencing the silver to the same join of chips and stuffs the money into a slotted boxful. At the same time, the dealer notices another staff to record cash receipt to the computer.

At the end of the shift, a drop team exchanges the drop box containing the money for an empty drop box to be used by the next shift. 1.3 Division of work Division of work is one of the most important facets of the internal contr! ol. The duties of individuals should be defined so that no single individual has complete control all over a sequence of related transactions. (Gaffikin, Michael, 1993, pg299) Employees who are accountable for retention records of a firms assets should not... If you want to get a full essay, rate it on our website: BestEssayCheap.com

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