Communication Actitivy

F. Controls over cash and credit: a. Individual accountability for cash stocks. This meant that most personnel who dealt directly with cash were held individually accountable for a specific sum of money that was charged out to them. This control was designed to address the problem that these personnel will make mistakes to create any large shortages or persistent patterns of shortages.

Communication is primarily an exchange of information, ideas, or thoughts. This paper will focus on the process of verbal and nonverbal communication as well as the components of each. It outline the formal and informal channels of criminal channels. This paper will also list the different barriers to effective communication within a criminal justice organization. Finally it will cover strategies that can be implemented to overcome communication barriers within criminal justice organizations.

It follows a strong internal control system for cash. A separate person is appointed to approve all purchases, payroll and any disbursement of cash. At the end of each month company prepares bank reconciliation statement to reconcile cash book balance and bank statement balance. Company keeps proper inventory record system. All these prevent frauds and ensure smooth functioning of the business.

Each Friday, the cash clerk records the amount of cash receive and deposit the money in the bank account. Each quarter, the controller requests information from the bank necessary to prepare bank reconciliation.

By implementing and maintain multi-person checking systems, physical and electronic barriers and only allowing the minimum number of necessary people access to areas, cash and the ability to do certain tasks it helps ensure the safety of the company's assets. Different employees in the accounts department having checks in place to confirm balances match ensures that cash and equivalents are

Carefully management of cash can allow a company to have enough cash to pay for obligations. Another way of protecting cash includes, appropriately investing idle cash. Cash must also be controlled by merchants, this may involve limiting access to employees and issuing a bank reconciliations. Merchants can compare the cash amounts from bank statements to the general ledger. These two but equal one another. Petty cash must be administered correctly and a proper petty system must be used by merchants. Disbursements can also be used to mange and protect cash.

Adequate speed of updating information and open lines of communication are important for all companies. However, slow reactions are causing control deficiencies. Regional employees are allowed to issue disbursements that would take too long for the home office to make, but these transactions draw from accounts with an unknown balance, and they have no

Cash Disbursements - Organizations make installments for some reasons and through numerous methods, all of which are at danger of being misused by untrustworthy representatives. At the point when electronic installments and cost repayments are abused, systems administration can be utilized to secure against these controls in Metcash Company.

Harold became the CFO and a model employee, as stated he worked long hours, never took vacations and personally managed all aspects of the cash function. This made it possible for Harold to cover the embezzlement. According to periodical” Five steps to prevent fraud” by Norman Grill, it is fundamental to segregate the key assets into three categories: authorization, custody and record keeping. It states that by handling all major assets in this manner creates a system of checks and balances that will connect any dishonest employee from misusing the item.

It is also helpful to use for employee pay checks, and purchasing products from suppliers.

Cash is money which can be used to exchange goods, services or debts. It includes anything of value that can be converted into cash for financial exchange whether it is money in hand, money in banking accounts, investments or insurance policies. According to Bethel University (2010), “More than 20,000 banks, savings and loan associations, credit unions, and other financial institutions provide various payment, savings, and credit services” (p102). Money builds wealth it is a means to save or establish purchasing power whereas financial institutions offer customers safe keeping for their money. A financial institution conducts financial transactions such as investments, loans and deposits. Almost everyone has to deal with a financial institution on a regular basis, everything from depositing money to taking out loans.

Almost all banks have a wide variety of products to offer to the customers. There are regular transaction between the customer and the bank and therefore many notifications and records, that are required by both the bank and the customer for their satisfaction there are many requests that a customer makes that the bank has to oblige and thus keep records of the same in order to refer to them when ever required.

When we contemplate the future managing an account the first thing rings a bell is electronic keeping money. Electronic saving money supplanted or supplements numerous channels of conveyance of retail managing account administrations. Any sort of saving money action alludes got to by electronic means. The most well-known, solid and simple to get to in electronic managing an account is computerized teller machines (Atms), advanced money, mechanized call focuses, , Internet keeping money, screen phones, and so on. These detesting and paying bills, purchasing and offering securities, exchanging finances, and giving other budgetary items and administrations (Gup, 2003).electronic saving money can be utilized for retail managing an account and business-to-business (B2b) exchanges, and additionally for encouraging huge dollar exchanges. Similarly vital, electronic saving money is an overall marvel. A few foundations just offer sites that give data about administrations offered yet don 't take into account exchanges. In any case, sites that are value-based are viewed as electronic saving money.

Spar on its day to day will compare daily cash sales to the actual cash found in the cash register drawers. If a surplus or shortage is discovered, the difference will be recorded in Cash Short (Over); a debit balance indicates a shortage (expense), while a credit represents an overage (revenue). As a business looks to improve cash management or add to the available cash supply, a number of options are available. Some of these solutions are "external" and some are "internal" in nature. External solutions include: Issuing additional shares of stock, borrowing additional funds . Internal solutions include: accelerate cash collections accept payment via credit cards, and cash discounts for prompt payment, Postponement of cash outflows, cash control -- Internal control for cash is based on the same general control features introduced in the previous chapter; access to cash should be limited to a few authorized personnel, incompatible duties should be separated, and accountability features (like prenumbered checks, etc.) should be developed.

What this section of the paper seeks to do is to analyze cash transfer systems in some countries.