Which of the following controls most likely would help ensure that all credit sales transactions of an entity are recorded? A. The billing department supervisor sends copies of approved sales orders to the credit department for comparison to authorized credit limits and current customer account balances. B. The accounting department supervisor independently reconciles the accounts receivable subsidiary ledger to the accounts receivable control account monthly.
Once the customer has validated that he or she is an authorized user of the ATM card by entering the correct PIN the ATM will then prompt them to select which transaction they are requesting. Once the customer selects the transfer option the ATM will then give the option of which account the transfer will be taken from and also if the account to be transferred to is internal to the banking institution or to an external institution. After the customer chooses if the transaction is for an internal or an external account the ATM will then ask for the specific account they wish to transfer fund into. When the specific account is selected the customer will then be prompted to enter the amount of the transfer. If sufficient funds are available in the account money is to be transferred from and the customer is authorized to transfer funds to the selected account, the changes to the account balances will be made and the transaction will be complete and the ATM card returned to the customer.
Cash flows statement is a summary pertaining to cash flow and outflows in detail of specific transactions within time periods. Classifying Transactions An individual account requires that either a debit or credit is recorded for each accounting transaction. Each
Information may be updated at any time so long as the customer is able to provide their Customer ID, AccNumber and Password. Along with the customer registration form, an addition form is also filled in to start the billing of the account which is shown in figure 2. This form records the typing of billing whether paper or email, payment method, Billing Address, etc. A Customer representative is responsible for logging both the ARF and billing form into the system so that account expenses can be calculated and billing to each account maybe added accordingly. Every month after billing cycle, a billing report of all expenses of each account is created and delivered to the DT Head office to be analysed, after that, the billing report is separated into the individual invoices where it is sent off to each customer depending on their billing method and delivery method.
The year-end bank reconciliations are usually extensive audit and using analytical procedures are test for reasonableness of cash balances. Auditor will compare ending balances on bank reconciliation, deposits, any outstanding checks, and other reconciliation items. In order to audit any cash in the bank, the
The description for this position is, Accountants within Fairway Management apply the principles of accounting in analyzing financial information for a portfolio of Fairway managed entities in order to prepare monthly financial statements. They prepare financial reports that are required by management and legal mandates for current reporting and future projections. Accountants also maintain and update records used in the financial management of the business. The responsibilities for this job are Preparing monthly financial statements for a portfolio of FWM properties according to established policy and procedures. Review financial summary reports and other reports as needed to accompany monthly financial statements.
The Reserve Bank planning and budget process provides a similar level of review and oversight for the Reserve Banks. On an annual basis, the Reserve Bank budgets are considered by the Board following review by the Committee on Federal Reserve Bank Affairs. .Staff of the Division of Reserve Bank Operations and Payment Systems support the Committee. Planning Background In 2001, working with the management of each division, the Staff Planning Group identified several ongoing trends that are reflected in this strategic plan: 1. consolidation, deregulation, and globalization trends, as well as creation
B2 – Describe the information which needs to be shown on an employee pay slip The information on the pay slip keeps records for three different parties; the tax office, the company or employer, the employee being paid. The date This is the date the finances should be credited into the designated bank account. This is usually made by BACS transfer, although employee could also be paid in cash or by Cheque. Employee personal information The name of the employee being paid and sometimes a home address will be included on the payslip. National Insurance Every Employee should have an NI number to work in the UK.
A rollover to a Roth IRA makes for a strong estate and retirement planning tool. How do I participate in a Roth 401k? 1. The Roth 401k works the same as traditional 401k accounts, except now your employer will provide a form on which you can designate some or all of your 401k contributions to go into a Roth 401k account. 2.
The financial statement audit is the one I will be concentrating on by examining the financials to be sure Apollo Shoes in compliance with the required US accounting standards. I will match the evidence with various accounts, analyzing vendor and customer accounts, payroll and employee benefits, and bank accounts. I will want to analyze the cash flow statements with the supporting evidence, along with the balance sheet, and income statement or profit and loss