Financial Accounting Seven: Cash Controls And Bank Reconciliations

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This course is designed for those interested to learn the basics of financial accounting that focuses on internal controls; what they are, why they are useful, and their objectives. Also learn about bank reconciliations control which provides more assurance over the revenue cycle, purchases cycle, and payroll cycle.

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About This Coursebeginner

In this course, 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 petty cash account, a process that can be more complex than if first seems. 

Who this course is for:

  • Accounting students
  • Business owner
  • Anyone who wants to learn accounting

Our Promise to You

By the end of this course, you will have learned cash control and bank reconciliation.

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Course Curriculum

Course Sections

Bank Reconciliations And Cash Internal Controls Overview

Internal Controls Overview And Cash Internal Controls Introduction Overview

Internal Controls Overview

Cash Internal Controls Overview

Multiple Choice Questions One – Cash And Internal Controls

Cash Receipts Internal Controls Overview

Cash Receipts Internal Controls

Multiple Choice Questions Two – Cash And Internal Controls

Cash Disbursements Internal Controls Overview

Cash Disbursements Internal Controls

Multiple Choice Questions Three – Cash And Internal Controls

Bank Reconciliations Overview

Bank Reconciliations

Bank Reconciliation January

Bank Reconciliation Adjusting Entries January

Bank Reconciliation February

Bank Reconciliation February Adjusting Entries

Multiple Choice Questions Four – Cash And Internal Controls

Petty Cash Overview

Petty Cash

Petty Cash Journal Entries – Part One

Petty Cash Journal Entries – Part Two

Multiple Choice Questions Five – Cash And Internal Controls

Multiple Choice Questions Six – Cash And Internal Controls

CPA Test Preparation – Part One

Comprehensive Problem Overview

Comprehensive Problem – Part One

Comprehensive Problem – Part Two

Comprehensive Problem – Part Three

Comprehensive Problem – Part Four

Comprehensive Problem – Adjusting Entries – Part One

Comprehensive Problem – Adjusting Entries – Part Two

Comprehensive Problem – Financial Statements – Part One

Comprehensive Problem – Financial Statements – Part Two

Comprehensive Problem – Closing Process – Part One

Comprehensive Problem – Closing Process – Part Two

Multiple Choice Questions Seven – Cash And Internal Controls

CPA Test Preparation – Part Two

Deposits In Transit

Gross Method

Invoice

Liquid Assets

Liquidity

Outstanding Check

Petty Cash

Purchase Order

Purchase Requisition

Vendee

Vendor

Bank Reconciliation

Bank Statement

Canceled Checks

Cash

Cash Equivalents

Cash Over And Short

Check

Check Register

Discussion Question One – Principles Of Internal Control

Discussion Question Two – Voucher System

Discussion Question Three – Outstanding Items In Bank Reconciliation

Discussion Question Four – Petty Cash

Discussion Question Five – Bank Reconciliation

Discussion Question Six – Adjustments During Bank Reconciliation

Discussion Question Seven – Internal Control And Purpose

Discussion Question Eight – Cash Controls

Downloadable Materials

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