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| A network of approvals by authorized individuals acting independently to ensure that all disbursements by check are proper. |
Voucher System |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| An authorization form prepared for each expenditure in a voucher system. |
Voucher |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| Employee responsible for the management of a company's cash. |
Treasurer |
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| Law that requires companies to maintain adequate systems of internal control. |
Sarbanes-Oxley Act of 2002 (SOX) |
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| Cash that is not available for general use, but instead is restricted for a particular purpose. |
Restricted Cash |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| A cash fund used to pay relatively small amounts. |
Petty Cash Fund |
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| Checks issued and recorded by a company that have not been paid by the bank. |
Outstanding Checks |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| A check that is not paid by a bank because of insufficient funds in a bank account. |
NSF Check |
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| All the related mathods and measures adopted within an organization to safeguard its assets and enhance the reliability of its accounting records, increase efficiency of operation, and ensure compliance with laws and regulations. |
Internal Control |
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| Company employees who continuously evaluate the effectiveness of the company's internal control system. |
Internal Auditors |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| The three factors that contribute to fraudulent activity by employees: opportunity, financial pressure, and rationalization. |
Fraud Triangle |
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| A dishonest act by an employee that results in personal benefit to the employee at a cost to the employer. |
Fraud |
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| A disbursement system that users wire, telephone, or computer to transfer cash from one location to another. |
Electronic Funds Transfer (EFT) |
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treisigbob Wed, 10 Mar 2010 18:46:22 GMT |
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| Deposits recorded by the depositor that have not been recorded by the bank. |
Deposits in transit |
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| Short-term, highly liquid investments that can be converted to a specific amount of cash. |
Cash Equivalents |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| A projection of anticipated cash flows, usually over a one- to two- year period. |
Cash Budget |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| Resources that consist of coins, currency, checks, money orders, and money on hand or on deposit in a bank or similar depository. |
Cash |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| Obtaining insurance protection against theft by employees. |
Bonding |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| A statement received monthly from the bank that shows the depositor's bank transactions and balances. |
Bank Statement |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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| The process of comparing the bank's account balance with the company's balance, and explaining the differences to make them agree. |
Bank Reconciliation |
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treisigbob Wed, 10 Mar 2010 17:20:50 GMT |
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