INTERNALCONTROLANDCASH內部控制和現金INTERNALCONTROLANDCASH內部控制1Defineinternalcontrol.Principlesofinternalcontrol.Internalcontroltocashreceipts.Internalcontroltocashdisbursements.Operationofapettycashfund.Controlfeaturesofabankaccount.Prepareabankreconciliation.

MainPointsDefineinternalcontrol.2Internalcontrolconsistsoftheplanoforganizationandalltherelatedmethodsandmeasuresadoptedwithinabusinessinorderto:1safeguarditsassetsand2enhancetheaccuracyandreliabilityofits accountingrecords.INTERNALCONTROL內部控制Internalcontrolconsistsoft3Establishmentofresponsibility責任的建立:controlismosteffectivewhenonlyonepersonisresponsibleforagiventask.Segregationofduties職責的分離:theworkofoneemployeeshouldprovideareliablebasisforevaluatingtheworkofanotheremployee.Documentationprocedures過程證據化:documentsshouldprovideevidencethattransactionsandeventshaveoccurred.PRINCIPLESOFINTERNALCONTROLEstablishmentofresponsibilit4Physical,mechanical,andelectroniccontrols物理控制:relateprimarilytothesafeguardingofassetsandenhancingaccuracyandreliabilityoftheaccountingrecords.Independentinternalverification獨立的內部驗證:thereview,comparison,andreconciliationofinformationfromtwosources.Othercontrols其他控制:bondingofemployeeswhohandlecash,rotating輪換

employee’sduties,andrequiringemployeestotakevacations休假.PRINCIPLESOFINTERNALCONTROLPhysical,mechanical,andelec5Safes,andsafetydepositboxesforcashandbusinesspapersLockedwarehousesandstoragecabinetsforinventoriesandrecordsComputerfacilitieswithpasskeyaccess

PHYSICALCONTROLSSafes,andsafetydepositbox6

MECHANICALANDELECTRONICCONTROLSAlarmstopreventbreak-insTelevisionmonitorstodetertheftTimeclocksforrecordingtimeworkedMECHANICALANDELECTRONICCON7Toobtainmaximumbenefitfromindependentinternalverification:1Theverificationshouldbemade periodicallyoronasurprisebasis.2Theverificationshouldbedonebyan employeewhoisindependentofthe personnelresponsiblefortheinformation.3Exceptionsshouldbe reportedtoamanagementlevelthatcan takeappropriatecorrectiveaction.INDEPENDENTINTERNALVERIFICATIONToobtainmaximumbenefitfrom8Independentinternalverification

isoftenassignedtointernalauditors內部審計師.Internalauditorsevaluatetheeffectivenessofthecompany’ssystemofinternalcontrolonacontinuousbasis.Internalauditingisaprofessionalactivitywithinacompany,oftenwithdirectaccesstotheboardofdirectors.INDEPENDENTINTERNALVERIFICATIONIndependentinternalverificat9Makesmonthlycomparisons:reportsanyunreconcilabledifferencestotreasurerMaintainscashbalancesMaintainscustodyofperbookscashonhand

IndependentInternalVerificationCOMPARISONOFSEGREGATIONOFDUTIESPRINCIPLEWITHINDEPENDENTINTERNALVERIFICATIONPRINCIPLEAccountingEmployeeAAssistantCashierBAssistantTreasurerCSegregationofDutiesMakesmonthlycomparisons:re10Costsofestablishingcontrolproceduresshouldnotexceedtheirexpectedbenefitsaccordingtotheconceptofreasonableassurance.Thehumanelementisalsoanimportantfactor.AgoodsystemcanbecomeineffectivethroughemployeecarelessnessCollusion合謀

mayresultwhentwoormoreindividualsworktogethertogetaroundprescribedcontrolsandmaysignificantlyimpairtheeffectivenessofasystem.LIMITATIONSOFINTERNALCONTROL內部控制的限制Costsofestablishingcontrol11內部控制和現金英文版課件12Cashincludescoins,currency,checks,moneyorders,andmoneyonhandorondepositatabankorsimilardepository.Internalcontrolovercashisimperativeinordertosafeguardcashandassuretheaccuracyoftheaccountingrecordsforcash.CASH現金Cashincludescoins,currency,13Onlydesignatedpersonnelshouldbeauthorizedtohandleorhaveaccesstocashreceipts.Differentindividualsshould:

1receivecash

2recordcashreceipttransactions

3havecustodyofcashINTERNALCONTROLOVERCASHRECEIPTS接受現金的內部控制Onlydesignatedpersonnelshou14

Documentsshouldinclude:remittanceadvices,cashregistertapes,depositslipsCashshouldbestoredinsafesandbankvaultsAccesstostorageareasshouldbelimitedto authorizedpersonnelDocumentsshouldinclude:rem15Dailycashcountsanddailycomparisonsoftotalreceipts.Allpersonnelwhohandlecashreceiptsshouldbebondedandrequiredtotakevacations.Controlofover-the-counterreceiptsiscenteredoncashregistersthatarevisibletocustomers.Dailycashcountsanddailyco16Paymentsaremadebycheck支票

ratherthanbycash,exceptforpettycash

零用現金transactions.Onlyspecifiedindividualsshouldbeauthorizedtosignchecks.Differentdepartmentsorindividualsshouldbeassignedthedutiesofapprovinganitemforpaymentandpayingit.INTERNALCONTROLOVERCASHDISBURSEMENTS現金支付的內部控制Paymentsaremadebycheck支票r17

Pre-numberedchecksshouldbeusedand eachcheckshouldbesupportedbyan approvedinvoiceorotherdocument.

Blankchecks空白支票

shouldbestored inasafe. 1Accessshouldberestrictedto authorizedpersonnel.

2Acheckwritermachineshouldbeused toimprinttheamountonthecheckin indelibleink.Pre-numberedchecksshouldbe18Eachcheckshouldbecomparedwiththeapprovedinvoicebeforeitisissued.Followingpayment,theapprovedinvoiceshouldbestampedPAID.PaidEachcheckshouldbecompared19ElectronicFundsTransfer(EFT)isadisbursementsystemthatuseswire,telephone,orcomputertosendcashfromonelocationtoanother.Regularpaymentssuchasthoseforhouse,car,andutilitiesarefrequentlymadebyEFT.ELECTRONICFUNDSTRANSFER電子資金劃賬ElectronicFundsTransfer(EFT20

Apettycashfund

isusedtopayrelativelysmallamounts.Operationofthefund,oftencalledan

imprestsystem,involves:

1

establishingthefund,

2

makingpaymentsfromthefund,and

3

replenishingthefund.PETTYCASHFUND備用金Apettycashfundisusedto21Accountingentriesarerequiredwhen:

1

thefundisestablished,

2

thefundisreplenished,and

3

theamountofthefundischanged.PETTYCASHFUND備用金Accountingentriesarerequire22ESTABLISHINGTHEFUND

Twoessentialstepsinestablishingapetty cashfundare

1

appointingapettycashcustodianwho willberesponsibleforthefundand

2

determiningthesizeofthefund.Ordinarily,theamountisexpectedto coveranticipateddisbursementsfora 3-weekto4-weekperiod.ESTABLISHINGTHEFUNDTwoesse23

GeneralJournalDateAccounttitleDRCRMar.1Pettycash100

cash100ToestablishapettycashLairdCompanydecidestoestablisha$100fundonMarch1.Whenthefundisestablished,acheckpayabletothepettycashcustodianisissuedforthestipulatedamount.Gen24REPLENISHINGTHEFUND

Whenthemoneyinthepettycashfund reachesaminimumlevel,thefundis replenished.Therequestforreimbursementisinitiated bythepettycashcustodian.Thepettycashcustodianpreparesa scheduleofthepaymentsthathavebeen madeandsendstheschedule,with supportingdocumentation,tothe treasurer’soffice.REPLENISHINGTHEFUNDWhenthe25

GeneralJournalDateAccounttitleDRCRMar.15Postageexpense44Freight-in38Miscellaneousexpense5

cash87ToreplenishpettycashfundOnMarch15thepettycashcustodianrequestsacheckfor$87.Thefundcontains$13cashandpettycashreceiptsforpostage$44,freight-in$38,andmiscellaneousexpenses,$5.Gen26

Theuseofabankminimizestheamountof currencythatmustbekeptonhandand contributessignificantlytogoodinternal controlovercash.Acompanycansafeguarditscashby usingabankasadepositoryand clearinghouseforchecksreceived andcheckswritten.Newdepositorsarerequiredtosigna signaturecardwhenopeningacheckingaccount.USEOFABANKTheuseofabankminimizest27Acheckisawrittenordersignedbythedepositordirectingthebanktopayaspecifiedsumofmoneytoadesignatedrecipient.Threepartiestoacheckare:

1Maker(drawer)issuesthecheck

2Bank(payer)onwhichcheckisdrawn

3PayeetowhomcheckispayableWRITINGCHECKS開支票Acheckisawrittenordersig28DrawerBankPayeeCheckCheckCashBankStatementDrawerBankPayeeCheckCheck29BANKSTATEMENTS銀行對賬單Abankstatement

shows:1checkspaidandotherdebitschargedagainsttheaccount2depositsandothercreditsmadetotheaccount3accountbalanceaftereachday’stransactionsBANKSTATEMENTS銀行對賬單Abanksta30BANKSTATEMENTS銀行對賬單BANKSTATEMENTS銀行對賬單31Bankdebitmemoranda

indicatechargesagainstthedepositor’saccount. Example:ATMservicechargesBankcreditmemoranda

indicateamountsthatwillincreasethedepositor’saccount. Example:interestincomeonaccountbalanceMEMORANDABankdebitmemorandaindicate32RECONCILINGTHEBANKACCOUNT銀行戶頭的調整Reconciliationisnecessarybecausethebalanceperbank銀行余額

andbalanceperbooks賬上余額

areseldominagreementduetotimelagsanderrors.Abankreconciliationshouldbepreparedbyanemployeewhohasnootherresponsibilitiespertainingtocash.RECONCILINGTHEBANKACCOUNT33

Stepsinpreparingabankreconciliation:

1Determinedepositsintransit

2Determineoutstandingchecks

3

Noteanyerrorsdiscovered

4TracebankmemorandatotherecordsEachreconcilingitemusedindetermining theadjustedcashbalanceperbooksshould berecordedbythedepositorRECONCILINGTHEBANKACCOUNTStepsinpreparingabankrec34ThebankstatementfortheLairdCompanyshowsabalanceperbankof$15,907.45onApril30,2002.Onthisdatethebalanceofcashperbooksis$11,589.45.

BANKRECONCILIATONThebankstatementfortheLai35Cashbalanceperbankstatement15907.45Add:depositintransit2201.4Less:outstandingchecks

No.4533000

No.4571401.3

No.4601502.7Adjustedbalanceperbankstatement12204.85Cashbalanceperbooks11589.45Add:collectionofnotesreceivable,interest①1035

errorinrecordingcheckNo.443②36Less:NSFcheck③425.6

bankservicecharge④30Adjustedbalanceperbooks12204.85Cashbalanceperbankstatemen36

GeneralJournal①DateAccounttitlesDRCRApril30Cash1035Miscellaneousexpense15

Notesreceivable1000

Interestrevenue50TorecordcollectionCollectionofNoteReceivableThisentryinvolvesfouraccounts.Interestof$50hasnotbeenaccruedandthecollectionfeeischargedtoMiscellaneousExpense.GeneralJo37

GeneralJournal②DateAccounttitlesDRCRApril30Cash36

Accountspayable36TocorrecterrorinrecordingcheckNo.443BookErrorAnexaminationofthecashdisbursementsjournalshowsthatcheckNo.443wasapaymentonaccounttoAndreaCompany,asupplier.Thecheck,withacorrectamountof$1,226,wasrecordedat$1,262.GeneralJo38

GeneralJournal③DateAccounttitlesDRCRApril30Accountsreceivable425.6

Cash425.6TorecordNSFcheckNSFCheckAnNSFcheckbecomesanaccountsreceivabletothedepositor.GeneralJo39

GeneralJournal④DateAccounttitlesDRCRApril30Miscellaneousexpense30

Cash30TorecordchargeforaprintingchecksBankServiceChargesCheckprintingcharges(DM)andotherbankservicecharges(SC)aredebitedtoMiscellaneousExpensebecausetheyareusuallynominalinamount.GeneralJo40

CashreportedontheBalanceSheet includes:

1CashonHand

2Cashinbanks

3PettyCashCashislistedfirstinthebalancesheet underthetitlecashandcashequivalents現金等價物

becauseitisthemostliquidasset.REPORTINGCASHCashreportedontheBalance41Cashequivalents

arehighlyliquidinvestmentswithmaturitiesof3monthsorlesswhenpurchasedthatcanbeconvertedintoaspecificamountofcash.Examplesincludemoneymarketfunds貨幣市場基金會,bankcertificatesofdeposit銀行存款單,andU.S.Treasurybillsandnotes國庫券.CASHEQUIVALENTSCashequivalentsarehighlyli42HomeworkE8-5,E8-8HomeworkE8-5,E8-843INTERNALCONTROLANDCASH內部控制和現金INTERNALCONTROLANDCASH內部控制44Defineinternalcontrol.Principlesofinternalcontrol.Internalcontroltocashreceipts.Internalcontroltocashdisbursements.Operationofapettycashfund.Controlfeaturesofabankaccount.Prepareabankreconciliation.

MainPointsDefineinternalcontrol.45Internalcontrolconsistsoftheplanoforganizationandalltherelatedmethodsandmeasuresadoptedwithinabusinessinorderto:1safeguarditsassetsand2enhancetheaccuracyandreliabilityofits accountingrecords.INTERNALCONTROL內部控制Internalcontrolconsistsoft46Establishmentofresponsibility責任的建立:controlismosteffectivewhenonlyonepersonisresponsibleforagiventask.Segregationofduties職責的分離:theworkofoneemployeeshouldprovideareliablebasisforevaluatingtheworkofanotheremployee.Documentationprocedures過程證據化:documentsshouldprovideevidencethattransactionsandeventshaveoccurred.PRINCIPLESOFINTERNALCONTROLEstablishmentofresponsibilit47Physical,mechanical,andelectroniccontrols物理控制:relateprimarilytothesafeguardingofassetsandenhancingaccuracyandreliabilityoftheaccountingrecords.Independentinternalverification獨立的內部驗證:thereview,comparison,andreconciliationofinformationfromtwosources.Othercontrols其他控制:bondingofemployeeswhohandlecash,rotating輪換

employee’sduties,andrequiringemployeestotakevacations休假.PRINCIPLESOFINTERNALCONTROLPhysical,mechanical,andelec48Safes,andsafetydepositboxesforcashandbusinesspapersLockedwarehousesandstoragecabinetsforinventoriesandrecordsComputerfacilitieswithpasskeyaccess

PHYSICALCONTROLSSafes,andsafetydepositbox49

MECHANICALANDELECTRONICCONTROLSAlarmstopreventbreak-insTelevisionmonitorstodetertheftTimeclocksforrecordingtimeworkedMECHANICALANDELECTRONICCON50Toobtainmaximumbenefitfromindependentinternalverification:1Theverificationshouldbemade periodicallyoronasurprisebasis.2Theverificationshouldbedonebyan employeewhoisindependentofthe personnelresponsiblefortheinformation.3Exceptionsshouldbe reportedtoamanagementlevelthatcan takeappropriatecorrectiveaction.INDEPENDENTINTERNALVERIFICATIONToobtainmaximumbenefitfrom51Independentinternalverification

isoftenassignedtointernalauditors內部審計師.Internalauditorsevaluatetheeffectivenessofthecompany’ssystemofinternalcontrolonacontinuousbasis.Internalauditingisaprofessionalactivitywithinacompany,oftenwithdirectaccesstotheboardofdirectors.INDEPENDENTINTERNALVERIFICATIONIndependentinternalverificat52Makesmonthlycomparisons:reportsanyunreconcilabledifferencestotreasurerMaintainscashbalancesMaintainscustodyofperbookscashonhand

IndependentInternalVerificationCOMPARISONOFSEGREGATIONOFDUTIESPRINCIPLEWITHINDEPENDENTINTERNALVERIFICATIONPRINCIPLEAccountingEmployeeAAssistantCashierBAssistantTreasurerCSegregationofDutiesMakesmonthlycomparisons:re53Costsofestablishingcontrolproceduresshouldnotexceedtheirexpectedbenefitsaccordingtotheconceptofreasonableassurance.Thehumanelementisalsoanimportantfactor.AgoodsystemcanbecomeineffectivethroughemployeecarelessnessCollusion合謀

mayresultwhentwoormoreindividualsworktogethertogetaroundprescribedcontrolsandmaysignificantlyimpairtheeffectivenessofasystem.LIMITATIONSOFINTERNALCONTROL內部控制的限制Costsofestablishingcontrol54內部控制和現金英文版課件55Cashincludescoins,currency,checks,moneyorders,andmoneyonhandorondepositatabankorsimilardepository.Internalcontrolovercashisimperativeinordertosafeguardcashandassuretheaccuracyoftheaccountingrecordsforcash.CASH現金Cashincludescoins,currency,56Onlydesignatedpersonnelshouldbeauthorizedtohandleorhaveaccesstocashreceipts.Differentindividualsshould:

1receivecash

2recordcashreceipttransactions

3havecustodyofcashINTERNALCONTROLOVERCASHRECEIPTS接受現金的內部控制Onlydesignatedpersonnelshou57

Documentsshouldinclude:remittanceadvices,cashregistertapes,depositslipsCashshouldbestoredinsafesandbankvaultsAccesstostorageareasshouldbelimitedto authorizedpersonnelDocumentsshouldinclude:rem58Dailycashcountsanddailycomparisonsoftotalreceipts.Allpersonnelwhohandlecashreceiptsshouldbebondedandrequiredtotakevacations.Controlofover-the-counterreceiptsiscenteredoncashregistersthatarevisibletocustomers.Dailycashcountsanddailyco59Paymentsaremadebycheck支票

ratherthanbycash,exceptforpettycash

零用現金transactions.Onlyspecifiedindividualsshouldbeauthorizedtosignchecks.Differentdepartmentsorindividualsshouldbeassignedthedutiesofapprovinganitemforpaymentandpayingit.INTERNALCONTROLOVERCASHDISBURSEMENTS現金支付的內部控制Paymentsaremadebycheck支票r60

Pre-numberedchecksshouldbeusedand eachcheckshouldbesupportedbyan approvedinvoiceorotherdocument.

Blankchecks空白支票

shouldbestored inasafe. 1Accessshouldberestrictedto authorizedpersonnel.

2Acheckwritermachineshouldbeused toimprinttheamountonthecheckin indelibleink.Pre-numberedchecksshouldbe61Eachcheckshouldbecomparedwiththeapprovedinvoicebeforeitisissued.Followingpayment,theapprovedinvoiceshouldbestampedPAID.PaidEachcheckshouldbecompared62ElectronicFundsTransfer(EFT)isadisbursementsystemthatuseswire,telephone,orcomputertosendcashfromonelocationtoanother.Regularpaymentssuchasthoseforhouse,car,andutilitiesarefrequentlymadebyEFT.ELECTRONICFUNDSTRANSFER電子資金劃賬ElectronicFundsTransfer(EFT63

Apettycashfund

isusedtopayrelativelysmallamounts.Operationofthefund,oftencalledan

imprestsystem,involves:

1

establishingthefund,

2

makingpaymentsfromthefund,and

3

replenishingthefund.PETTYCASHFUND備用金Apettycashfundisusedto64Accountingentriesarerequiredwhen:

1

thefundisestablished,

2

thefundisreplenished,and

3

theamountofthefundischanged.PETTYCASHFUND備用金Accountingentriesarerequire65ESTABLISHINGTHEFUND

Twoessentialstepsinestablishingapetty cashfundare

1

appointingapettycashcustodianwho willberesponsibleforthefundand

2

determiningthesizeofthefund.Ordinarily,theamountisexpectedto coveranticipateddisbursementsfora 3-weekto4-weekperiod.ESTABLISHINGTHEFUNDTwoesse66

GeneralJournalDateAccounttitleDRCRMar.1Pettycash100

cash100ToestablishapettycashLairdCompanydecidestoestablisha$100fundonMarch1.Whenthefundisestablished,acheckpayabletothepettycashcustodianisissuedforthestipulatedamount.Gen67REPLENISHINGTHEFUND

Whenthemoneyinthepettycashfund reachesaminimumlevel,thefundis replenished.Therequestforreimbursementisinitiated bythepettycashcustodian.Thepettycashcustodianpreparesa scheduleofthepaymentsthathavebeen madeandsendstheschedule,with supportingdocumentation,tothe treasurer’soffice.REPLENISHINGTHEFUNDWhenthe68

GeneralJournalDateAccounttitleDRCRMar.15Postageexpense44Freight-in38Miscellaneousexpense5

cash87ToreplenishpettycashfundOnMarch15thepettycashcustodianrequestsacheckfor$87.Thefundcontains$13cashandpettycashreceiptsforpostage$44,freight-in$38,andmiscellaneousexpenses,$5.Gen69

Theuseofabankminimizestheamountof currencythatmustbekeptonhandand contributessignificantlytogoodinternal controlovercash.Acompanycansafeguarditscashby usingabankasadepositoryand clearinghouseforchecksreceived andcheckswritten.Newdepositorsarerequiredtosigna signaturecardwhenopeningacheckingaccount.USEOFABANKTheuseofabankminimizest70Acheckisawrittenordersignedbythedepositordirectingthebanktopayaspecifiedsumofmoneytoadesignatedrecipient.Threepartiestoacheckare:

1Maker(drawer)issuesthecheck

2Bank(payer)onwhichcheckisdrawn

3PayeetowhomcheckispayableWRITINGCHECKS開支票Acheckisawrittenordersig71DrawerBankPayeeCheckCheckCashBankStatementDrawerBankPayeeCheckCheck72BANKSTATEMENTS銀行對賬單Abankstatement

shows:1checkspaidandotherdebitschargedagainsttheaccount2depositsandothercreditsmadetotheaccount3accountbalanceaftereachday’stransactionsBANKSTATEMENTS銀行對賬單Abanksta73BANKSTATEMENTS銀行對賬單BANKSTATEMENTS銀行對賬單74Bankdebitmemoranda

indicatechargesagainstthedepositor’saccount. Example:ATMservicechargesBankcreditmemoranda

indicateamountsthatwillincreasethedepositor’saccount. Example:interestincomeonaccountbalanceMEMORANDABankdebitmemorandaindicate75RECONCILINGTHEBANKACCOUNT銀行戶頭的調整Reconciliationisnecessarybecausethebalanceperbank銀行余額

andbalanceperbooks賬上余額

areseldominagreementduetotimelagsanderrors.Abankreconciliationshouldbepreparedbyanemployeewhohasnootherresponsibilitiespertainingtocash.RECO