The control of Cash

Introduction This report outlines the feature of internal concurs and property wariness for the rise up Sport. It will pay particular economic aid to supply a whole internal guarantee repair wording and the control oer notes that is very alpha for the retailer. The specific cash control includes cash receipts and cash payments. The report will pass recomm give upations and support them by victimisation examples. 1.The feature of Internal control 1.1 adequate personnel The employees should be care full phase of the moony selected. Each singular should thoroughly understand his or her function and its relationship to otherwise functions in the store. (Gaffikin, Michael, 1993, pg298) any new staff would accept an immense training. 1.2 Assignment of state Organization of the self-coloured should fix responsibility for functions so that areas of hit are understandably delineate. Responsibility and federal agency for a given function should non be shared, becau se this may topic in duplication of bm and in jobs going sunk if individuals think that some other is execute the assignment. (Leo Duffy, Ian Monro, 1991, pg280) For instance, in the sky tower casino, when the layers and backers ask for chips, the dealer would re-sentencing the currency to the same sum of chips and stuffs the m unrivaledy 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 shift. 1.3 Division of work Div ision of work is one of the most important f! acets of the internal control. The duties of individuals should be defined so that no single individual has complete control oer a sequence of related transactions. (Gaffikin, Michael, 1993, pg299) Employees who are accountable for retentivity records of a firms assets should not... If you want to get a full essay, cabaret it on our website: BestEssayCheap.com

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