There are many opportunities for failure in a cash receipts system, possibly resulting in the theft of cash or the incorrect recordation of receipts. In the Cash Receipts Controls course, we discuss all aspects of the cash receipts process flow, the forms used, and the controls needed to ensure that cash receipts activities are properly conducted. The course also addresses systems of internal control, control principles, types of controls, and several related issues.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the characteristics of a system of internal controls.
Recall the situations in which it is possible to operate with weak controls.
Recognize the best types of controls.
Specify how a continuous controls monitoring system functions.
Recall the various controls used in a cash receipts system.
Recall how to improve efficiencies within a cash receipts system.
Major Topics
The Genesis of Accounting Controls
The Proper Balance of Control Systems
Fraud Triggers
Control Principles
Controls Education
Cash Receipts Concepts
Terminating Controls
