Chapter 4: THE REVENUE CYCLE

INDEED, INTERNAL CONTROL PROCEDURE HAS TO BE IMPLEMENTED IN A CERTAIN COMPANY! DUE TO THE FACT THAT CASH IS A VERY LIQUID ASSET AND IS SUSCEPTIBLE TO THEFT AND MISAPPROPRIATION. AUTHORIZATION, AND RECORDING SHOULD NOT BE GIVE TO ONE AND THE SAME PERSON . I'VE LEARNED FROM A RELIABLE SOURCE THAT ,THAT WAS HAPPENED FROM THE BANK WHERE I WORKED BEFORE FOR 10 YEARS. SHE MANAGED TO MANIPULATE THE RECORD AND MISAPPROPRIATED THE AMOUNT DUE TO LACK OF CONTROLS ON CHECKS AND BALANCES.

My professor shared your video on current asset cash: bank reconciliation overview and I found the way you explain and use images to teach very helpful. Thank you @ProfAlldredge

Thank you for this video. You really go through how important it is for separation of duties for cash receivables and payables.

This guy looks like a GTA npc

Very well explained sir! I am learning about internal controls in accounting class.

This was so helpful! Thanks!