Optimal Accounting for Cash ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
The processing of checks and cash is one of the most inefficient processes in a business, since it is blanketed by the controls needed to minimize theft. Optimal Accounting for Cash shows how to sidestep these inefficient processes by taking a different approach to the handling of checks and cash. The course also covers the most essential controls needed to minimize the theft of cash, and notes how these changes impact the annual audit, closing the books, and instances of fraud.
Highlights
Cash Receipt Inefficiencies. Optimal Accounting for Check Receipts. Optimal Accounting for Cash Receipts. Optimal Accounting for Petty Cash. Optimal Number of Bank Accounts. Additional Controls to Consider. Monitoring of Optimal Systems. Effects of Optimal Accounting on the Annual Audit. Impact of Optimization on the Financial Statements. Impact of Optimization on Closing the Books. Impact of Optimization on Fraud.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Recognize the instances in which wait times can delay the cash receipts process. Cite the controls that can be applied to check receipts, cash receipts, and petty cash. State the advantages and disadvantages of using a bank lockbox. Recognize the implementation requirements of an automated cash application system.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00