Bank Reconciliations & Cash Internal Controls
MP4 | Video: AVC 1280×720 | Audio: AAC 44KHz 2ch | Duration: 9.5 Hours | Lec: 77 | 5.42 GB
Genre: eLearning | Language: English
Internal controls, bank reconciliations, and internal controls related to checking account
We will discuss internal controls including what they are, why they are useful, and the objectives of internal controls. We will then move to internal controls specific to cash including bank reconciliations.
Bank reconciliations are important controls for both large and small companies. After the double entry accounting system itself, the bank reconciliation is one of the most important internal controls. The bank reconciliation will compare the bank statement to the cash book balance as of a point in time and reconcile the difference between the two. The bank reconciliation process will provide more assurance of the cash account and will provide more assurance over many other accounting processes because most accounting processes include cash. For example, reconciling the bank account provides more assurance over the revenue cycle, purchases cycle, and payroll cycle.
We will also discuss the setting up and recording of a petting cash account, a process that can be more complex then if first seems.
In addition to instructional video, this course will include downloadable
вЂў Downloadable PDF Files
вЂў Excel Practice Files
вЂў Multiple Choice Practice Questions
вЂў Short Calculation Practice Questions
вЂў Discussion Questions
The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.
Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.
Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.
Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.
Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.
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