大学课程《会计英语》PPT课件：Chapter 4 Unit 1
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An employee of the business prepares a bank reconciliation once a month to verify that these two independent sets of records are in agreement. For strong internal control, the employee who prepares the bank reconciliation should not have access to cash or be responsible for recording cash transactions in the accounting records.
Cash and similar assets are called liquid assets because they can be readily used to settle such obligations. A company needs liquid assets to effectively operate.
Petty Cash Fund
Every business finds it convenient to have a small amount of cash on hand with which to make some minor expenditures. Examples include payments for small purchases of office supplies, postage stamps and taxi fares. Internal control over these small cash payments can best be achieved through a pety
Liquidity refers to a company’s ability to pay for its near-term obligations. Cash is the usual means of payment when paying for assets, services, or liabilities.
Internal Controls Over Cash
Cash is more susceptible to theft than any other asset. Furthermore, a large portion of the total transactions of a business involve the receipt or disbursement of cash. For both these reasons, internal control over cash is of great importance to management and also to the employees of a business.
Bank Reconciliation
The balance shown on the bank statement received from the bank will usually not agree with the balance of cash shown by the depositor’s accounting records. Certain transactions recorded by the depositor will not yet have been recorded by the bank.
Use of Petty Cash Fund
When a disbursement is made from the petty cash fund, the custodian of fund is required to fill out a petty cash voucher for the expenditure, showing the amount paid, the purpose of the expenditure, the date, and the signature of the person receiving the money. The petty cash box should, therefore, always contain cash and/or vouchers totaling the exact amount of the fund.
Chapter 4
Unit 1 Cash Unit 2 Receivables Unit 3 Inventories
Unit 1
Cash
Learning Objectives
After studying this unit, you should be able to: Define cash in accountants’ viewpoint. Explain the objectives of efficient cash
Continued
(2) Prepare an immediate control listing of cash receipts at the time and place that the money is received. This initial listing may consist of a cash register tape or serially numbered sales tickets rather than formal entries in the accounting records. A list of incoming checks should be prepared by the employees assigned to open the mail.
Major Steps in Establishing Internal
Controls Over Cash
(1) Separate the function of handling cash from the maintenance of accounting records. Employees who handle cash should not have access to the accounting records, and accounting personnel should not have access to cash.
In order to assure that the bank and the depositor are in agreement on the amount of money on deposit, a bank reconciliation needs to be prepared.
Continued
management. Explain the importance of internal control over
cash. Identify the steps an enterprise should take to
establish internal controls over cash. Explain the purpose of preparing a bank
Continued
Surprise Counts Of The Fund 对基金实施突 然袭击式的清点
Money Orders 汇款单 Postdated Checks 远期支票 Ious I Owe You 的缩写，欠条，借据 Means Of Payment 支付手段
Defining Cash
Cash Equivalents
Cash equivalents are short-term, highly liquid investment assets meeting two criteria: (1) readily convertible to a known cash amount and (2) sufficiently close to their due date so that their market value is not sensitive to interest rate changes. Most companies combine cash equivalents with cash as a single item on the balance sheet.
Continued
Separate the function of approving expenditures from the function of signing checks.
Bank Statement
A bank statement shows the balance on deposit at the beginning of the month, the deposits, the checks paid, any other debits and credits during the month, and the new balance at the end of the month.
Cash includes currency and coins along with the amounts on deposit in bank accounts.
Cash also includes items that are acceptable for deposit in bank accounts such as customer checks, cashier checks, certified checks, and money orders.
Efficient Management of Cash
Efficient management of cash includes measures that will: Provide accurate accounting for cash receipts, cash payments and cash balances; Prevent losses from fraud or theft; Maintain a sufficient amount of cash at all times to make necessary payments, plus a reasonable balance for emergencies; Prevent unnecessarily large amounts of cash from being held idle in bank accounts which produce no revenue.
Continued
(3) Require that all cash receipts be deposited daily in the bank.
(4) Make all payments by check. The only exception should be for small payments to be made in cash from a petty cash fund. Payments should never be made out of cash receipts.
reconciliation. Describe the operation of a petty cash fund.
Key Terms
Demand Deposit Accounts 活期存款账户 Savings Accounts 储蓄账户 Cashier’s Checks 银行本票 Certified Checks 保付支票 Bank Statement 银行对账单 Deposits In Transit 在途存款 Bank Reconciliation 银行存款余额调节表
Cash and similar assets are called liquid assets because they can be readily used to settle such obligations. A company needs liquid assets to effectively operate.
Petty Cash Fund
Every business finds it convenient to have a small amount of cash on hand with which to make some minor expenditures. Examples include payments for small purchases of office supplies, postage stamps and taxi fares. Internal control over these small cash payments can best be achieved through a pety
Liquidity refers to a company’s ability to pay for its near-term obligations. Cash is the usual means of payment when paying for assets, services, or liabilities.
Internal Controls Over Cash
Cash is more susceptible to theft than any other asset. Furthermore, a large portion of the total transactions of a business involve the receipt or disbursement of cash. For both these reasons, internal control over cash is of great importance to management and also to the employees of a business.
Bank Reconciliation
The balance shown on the bank statement received from the bank will usually not agree with the balance of cash shown by the depositor’s accounting records. Certain transactions recorded by the depositor will not yet have been recorded by the bank.
Use of Petty Cash Fund
When a disbursement is made from the petty cash fund, the custodian of fund is required to fill out a petty cash voucher for the expenditure, showing the amount paid, the purpose of the expenditure, the date, and the signature of the person receiving the money. The petty cash box should, therefore, always contain cash and/or vouchers totaling the exact amount of the fund.
Chapter 4
Unit 1 Cash Unit 2 Receivables Unit 3 Inventories
Unit 1
Cash
Learning Objectives
After studying this unit, you should be able to: Define cash in accountants’ viewpoint. Explain the objectives of efficient cash
Continued
(2) Prepare an immediate control listing of cash receipts at the time and place that the money is received. This initial listing may consist of a cash register tape or serially numbered sales tickets rather than formal entries in the accounting records. A list of incoming checks should be prepared by the employees assigned to open the mail.
Major Steps in Establishing Internal
Controls Over Cash
(1) Separate the function of handling cash from the maintenance of accounting records. Employees who handle cash should not have access to the accounting records, and accounting personnel should not have access to cash.
In order to assure that the bank and the depositor are in agreement on the amount of money on deposit, a bank reconciliation needs to be prepared.
Continued
management. Explain the importance of internal control over
cash. Identify the steps an enterprise should take to
establish internal controls over cash. Explain the purpose of preparing a bank
Continued
Surprise Counts Of The Fund 对基金实施突 然袭击式的清点
Money Orders 汇款单 Postdated Checks 远期支票 Ious I Owe You 的缩写，欠条，借据 Means Of Payment 支付手段
Defining Cash
Cash Equivalents
Cash equivalents are short-term, highly liquid investment assets meeting two criteria: (1) readily convertible to a known cash amount and (2) sufficiently close to their due date so that their market value is not sensitive to interest rate changes. Most companies combine cash equivalents with cash as a single item on the balance sheet.
Continued
Separate the function of approving expenditures from the function of signing checks.
Bank Statement
A bank statement shows the balance on deposit at the beginning of the month, the deposits, the checks paid, any other debits and credits during the month, and the new balance at the end of the month.
Cash includes currency and coins along with the amounts on deposit in bank accounts.
Cash also includes items that are acceptable for deposit in bank accounts such as customer checks, cashier checks, certified checks, and money orders.
Efficient Management of Cash
Efficient management of cash includes measures that will: Provide accurate accounting for cash receipts, cash payments and cash balances; Prevent losses from fraud or theft; Maintain a sufficient amount of cash at all times to make necessary payments, plus a reasonable balance for emergencies; Prevent unnecessarily large amounts of cash from being held idle in bank accounts which produce no revenue.
Continued
(3) Require that all cash receipts be deposited daily in the bank.
(4) Make all payments by check. The only exception should be for small payments to be made in cash from a petty cash fund. Payments should never be made out of cash receipts.
reconciliation. Describe the operation of a petty cash fund.
Key Terms
Demand Deposit Accounts 活期存款账户 Savings Accounts 储蓄账户 Cashier’s Checks 银行本票 Certified Checks 保付支票 Bank Statement 银行对账单 Deposits In Transit 在途存款 Bank Reconciliation 银行存款余额调节表