Anna Sewell

8 Internal Control and Cash Chapter STUDY OBJECTIVES After studying this chapter, you should be able to: 1 Define internal control. 2 Identify the principles of internal control. 3 Explain the applications of internal control principles to cash receipts. 4 Explain the applications of internal control principles to cash disbursements. 5 Describe the operation of a petty cash fund. 6 Indicate the control features of a bank account. 7 Prepare a bank reconciliation. 8 Explain the reporting of The