02 May Question3 pageAPASOURCES:4Description: Your client owns a nail salon where there are five stations each one is an independent contractor. They pay a fixed fee for their station plus 20 % of their charge for service. What should the internal control be for receiving the proper money.
Question
3 page
APA
SOURCES:4
Description: Your client owns a nail salon where there are five stations each one is an independent contractor. They pay a fixed fee for their station plus 20 % of their charge for service. What should the internal control be for receiving the proper money.
Required: Design an internal control system including flow charts with designated staffing and a narrative to cover normal cash receipt or credit card operations and exceptions that would most likely occur in that industry (for example reimburse cash for returned goods). You may address just one specific operation in the cash receipts if you want to . For example, poker tables in a casino. Include in your narrative how a failure in your system might occur. You may use an actual company or describe a hypothetical one that would be reasonably expected to operate like your description. You should be able to describe the operation on no more than 2 pages of flow charts and two pages of narrative.
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