Week 5 Discussion

• What are effective controls for cash and why are these controls considered to be effective?
• List the principles of internal control activities and describe one of the principles
• Define the five primary components of internal control systems.
• What are some of the internal control principles that surround the cash disbursement function?
• What are some of the components of a bank reconciliation?  Why is one performed?
• What is a cash budget?
• What are some of the internal control principles that surround the cash receipts function?
• Describe the operation of petty cash.  Is it still a necessary function considering the electronic world we are currently living?

Please  put the question with your response and Please make sure each response is at least 100 words