INTERNAL CONTROL IC TRANSACTIONS CYCLE PART B

Oct 06, 2012

190 likes | 425 Views

MMA. 2. IC AND TRANSACTIONS CYCLE. GENERAL NOTE:Please note the following controls are broad and may vary in details between organizations. However, it is presented as the minimum required either in manual or automated accounting system. . MMA. 3. ACCOUNTS RECEIVABLE (A/R) CONTROLS. 1- General Co

Share Presentation

Embed Code

Link

chelsey

Download Presentation

INTERNAL CONTROL IC TRANSACTIONS CYCLE PART B

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

Internal Control

Management Issues Related to Internal Control. OBJECTIVE 1: Identify the management issues related to internal control.. Management Issues Related to Internal Control. The two objectives of a good system of internal control are to ensureThe reliability of accounting records and financial statementsThat the company's assets are protected.

707 views • 34 slides

Internal Control

Internal Control. A presentation by Internal Audit Don Holland University Director of Internal Audit. Anytime you suffer a setback or disappointment, put your head down and plow ahead. Les Brown . Presentation Agenda. Introduction to Internal Controls Including a Video

809 views • 27 slides

Internal Control

The next two classes. Today, we will discuss the current business environment and the importance of internal controlNext, we will go over various control features and characteristics and try to map those into ?procedures" we have seen so far in this course.Then, we will discuss computer related co

848 views • 26 slides

Internal Controls Surrounding the Payroll Control Cycle

Internal Controls Surrounding the Payroll Control Cycle. MASBO 2009 Suzanne E. Smith, CPA. What are Internal Controls?.

1.88k views • 37 slides

Internal Control

Internal Control. Chapter 12. Internal Control. What Is Internal Control? What Are the Major Objectives of Internal Control? What Are the Differences Between Accounting and Administrative Controls?. Internal Control. What Are the Characteristics or Principles of Internal Control?

909 views • 26 slides

Internal Control

Internal Control. Internal Control Historical Development. Treadway Commission recommendations related to internal control: Competent and involved audit committees Active and objective internal audit function Committee of Sponsoring Organizations (COSO)

484 views • 19 slides

Internal Control

Internal Control. ATG 383, Chapter 8 Spring 2002. Introduction. Define internal control Who is responsible for control. Why is control important?. Internal Control is …. The steps a company takes to prevent employee fraud. True. False. Internal Control is ….

625 views • 40 slides

Internal Control

Internal Control. Assess - firm can maximize possibility of accurate financial reporting and efficiency Assess - minimize the risk of fraud or theft - asset loss Ensure reliability of financial statements

416 views • 29 slides

INTERNAL CONTROL

INTERNAL CONTROL. Internal Control is the process that management designs and implements to help an organization achieve: Reliable Financial Reporting Effective and efficient operations Compliance with relevant laws and regulations. Who is Responsible for Internal Controls?.

490 views • 18 slides

Internal Control

Internal Control. COSO’s Framework. Committee of Sponsoring Organizations 1992 issued a white paper on internal control Since this time, this framework has been incorporated into US auditing standards .

393 views • 19 slides

Internal Parasites, Part II - Control

Internal Parasites, Part II - Control. INAG 120 – Equine Health Management November 16, 2011. Deworming Protocols. Rotational Purge Deworming: Goal is to keep the load of eggs and larvae to a minimum Done every 8-12 weeks via oral paste

587 views • 43 slides

Internal Control

Internal Control. Wilkinson. Internal Control. Internal Control is a state that management strives to achieve to provide reasonable assurance that the firm’s objectives will be achieved These controls encompass all the measures and practices that are used to counteract exposures to risks

1.66k views • 121 slides

Internal Control

Internal Control. Internal Control System Definition. A process ...designed to provide reasonable assurance regarding, achievement of (the entity’s) objectives in the following categories: Effectiveness and efficiency of operations Reliability of financial reporting

859 views • 35 slides

Internal Control

Internal Control. Implementation. Use substantive strategy and set control risk at the maximum …due to: • The controls do not pertain to an assertion. • The controls are assessed as ineffective. • Evaluating the effectiveness of controls is inefficient.

572 views • 29 slides

Internal Control

Internal Control. An internal control system consists of the various methods and measures designed into and implemented within an organizational system to achieve four main objectives. Objectives of the Internal Control Structure. Safeguarding assets

1.44k views • 24 slides

Internal Control

Assignment of Responsibilities. Internal Control. By: Julia, Emily, Melinda. The assignment of responsibilities is the process of allocating specific positions to individuals. These positions clearly outline the tasks that any individual is authorized and depended upon to perform.

193 views • 6 slides

Internal Control

Internal Control. Internal Control Definition. A process, effected by the entity’s board of directors, management and other personnel, designed to provide reasonable assurance regarding the achievement of objectives. Internal Control Objectives. 1. Reliability of financial reporting.

590 views • 22 slides

INTERNAL CONTROL

INTERNAL CONTROL. MONITORING AND ASSESSMENT. Session Overview. Till date five components of internal control were discussed during this training program. During this session importance of monitoring will be discussed. Learning objectives.

199 views • 15 slides

Internal Control

Internal Control. Sound Check. Audio is available via the Internet: Please be sure your— computer is un-muted, your speakers are on & your volume is turned up. Treatment of Recovery Act Funds.

418 views • 40 slides

Internal Control

1.24k views • 121 slides

Internal Control Part II

Internal Control Part II. October 13, 2009. Today, we will…. Talk about how controls work in an organization. Discuss what we are trying to achieve with our system of internal control.

266 views • 26 slides

Internal Control

Internal Control. A process ...designed to provide reasonable assurance...regarding, achievement of (the entity’s) objectives on: Effectiveness and efficiency of operations Reliability of financial reporting Compliance with applicable laws and regulations.

728 views • 11 slides

More Related