Internal control The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise. Thus, internal control helps: To promote the operational efficiency. To encourage company policies and procedures regarding adherence. To minimize the errors and theft happening in the company. To enhance the accuracy and reliability of the accounting data. To determine: The ways that company can use to improve internal control procedure towards handling of its cash receipts.

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Chapter 7, Problem 7.1BE

To determine

Internal control

The internal control refers to the plan of a company. Implementation of effective internal control system is necessary for success of any business enterprise.

Thus, internal control helps:

To promote the operational efficiency.

To encourage company policies and procedures regarding adherence.

To minimize the errors and theft happening in the company.

To enhance the accuracy and reliability of the accounting data.

To determine: The ways that company can use to improve internal control procedure towards handling of its cash receipts.

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