The control of Cash

Introduction This report outlines the feature of internal concurs and property commission for the rise up Sport. It will pay particular financial aid to supply a whole internal guarantee set wording and the control oer notes that is very master(prenominal) for the retailer. The specific cash control includes cash receipts and cash payments. The report will pass recomm fireations and support them by exploitation examples. 1.The feature of Internal control 1.1 adequate personnel The employees should be care full phase of the moony selected. Each undivided 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 colossal training. 1.2 Assignment of accountability Organization of the self-coloured should fix responsibility for functions so that areas of hit are understandably delineate. Responsibility and ascendancy for a given function should non b e shared, because this may response in duplication of bm and in jobs going sunk if individuals think that another(prenominal) is execute the assignment. (Leo Duffy, Ian Monro, 1991, pg280) For instance, in the sky rear casino, when the layers and backers ask for chips, the dealer would re-sentencing the currency to the same nitty-gritty of chips and stuffs the mvirtuosoy 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 s hift. 1.3 Division of work Division of work! is one of the most important facets of the internal control. The duties of individuals should be defined so that no single individual has complete control everyplace a sequence of related transactions. (Gaffikin, Michael, 1993, pg299) Employees who are accountable for care records of a firms assets should not... If you want to get a full essay, position it on our website: BestEssayCheap.com

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