会计双语Lesson11.ppt

Lesson 11,Cash Control,1.Describe the nature of cash and the importance of internal control over cash.2.Summarize basic procedures for achieving internal control over cash receipts.3.Summarize basic procedures for achieving internal control over cash payments,including the use of a voucher system.4.Account for small cash transactions using a petty cash fund.,Objectives,After studying this chapter,you should be able to:,Key Terms,CoinCheckMoney orderBank depositIOUPostdated checkNSF,Key Terms,ImprestPetty cashBank reconciliationReplenishmentCash in bank,Cash,In accounting,the term cash means paper money,coins,checks,money orders and bank deposits-all items that are acceptable for deposit in a bank.,Question 11.1,Which of the following items belongs to cash?A.IOUsB.MONEY ORDERC.NSF checks,Controlling Cash Received from Cash Sales,19Cash3 142 00Cash Short and Over8 00,To record cash sales and actual cash on hand.,Sales 3 150 00,Cash sales for March 19 totaled$3,150.00 per the cash register tape.After removing the change fund,only$3,142.00 was on hand.,Controlling Cash Received in the Mail,Most companies invoices are designed so that customers return a portion of the invoice,call a remittance advice.,Sample,Controlling Cash Received in the Mail,1.The employee who opens the mail should initially compare the amount received with the amount on the remittance advice.2.The employee opening the mail stamps checks and money orders“For Deposit Only”in the bank account of the business.3.All cash is sent to the Cashiers Department where checks and money orders are combined with receipts from cash sales and a bank deposit ticket is prepared.,Controlling Cash Received in the Mail,4.The remittance advices and their summary totals are delivered to the Accounting Department where a clerk prepares the records of the transactions and posts them to the customer account.5.The stamped duplicate copy of the deposit ticket is returned to the Accounting Department where a clerk compares the receipt with the total amount that should have been deposited.,1.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 that what is being paid for was properly ordered,received,and billed by the supplier.,Internal Control of Cash Payments,A voucher system is a set of procedures for authorizing and recording liabilities and cash payments.,Basic Features of the Voucher System,13,Basic Features of the Voucher System,A voucher system normally uses vouchers.The system normally has a file for unpaid vouchers and a file for paid vouchers.Usually prepared by the Accounting Department after all necessary supporting documents are received(purchase order,suppliers invoice,and a receiving report).In preparing the voucher,the accounts payable clerk verifies the quantity,price,and mathematical accuracy of the supporting documents.,Petty Cash,Aug.1 Petty Cash 100 00,Established petty cash fund.,Cash 100 00,On August 1,issued Check No.511 for$100 to established a petty cash fund.,Aug.31 Office Supplies 50 00,Replenished petty cash fund.,Cash 88 00,At the end of August,the petty cash receipts indicated expenditures for the following items:office supplies,$28,postage(office supplies),$22;store supplies,$35,and miscellaneous administrative items,$3.,Store Supplies 35 00,Miscellaneous Administrative Exp.3 00,Problem 11.2,Answer 11.2,The End,Lesson 11,