02 Sep Principles Of Accounting I
Do you think the same person who receives cash payments should also prepare the bank reconciliation? Give at least one reason to support your answer.
Please include the name of the person or question to which you are replying in the subject line. For example, “Tom’s response to Susan’s comment.”
ALSO PLEASE REPLY TO ANOTHER STUDENTS COMMENT BELOW
Amy:
I do not believe that the same person should prepare the cash payments and the bank reconciliation. A company needs to have a check and balance and if you have the same person doing both then who is checking behind that person. Case in point, we have a local credit union where a lady was just charged with embezzlement. This didn’t come up until after she retired and someone else was doing the statements and noticed a big discrepancy in the numbers. Same thing here at work. We are currently in the middle of inventory and if there is any discrepancy in the counts, then I have two people to check it before an adjustment is made. We are all human and not saying that people are criminals or untruthful, but we all make mistakes. There should always be someone checking behind another person.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.