Week 5

Week 5: Internal Control, Reporting Cash, and Accounting for Receivables

In this area, we will talk about the importance of internal control in a business organization and

the reporting of cash on the balance sheet as well as managing receivables and estimating

uncollectible accounts.

Q.1

What

is internal control, and what are the

objectives of a well

-

designed internal control

structure in an organization?

Notes:

1. Include in your post that you

attended

the live

lecture

2. provide a summary of your key takeaways from the lecture

Book for references

Financial Accounting: Tools for Business Decision Making

9

th

Kimmel, Weygandt and Kieso

2019 Wiley

Week 5: Internal Control, Reporting Cash, and Accounting for Receivables

In this area, we will talk about the importance of internal control in a business organization and

the reporting of cash on the balance sheet as well as managing receivables and estimating

uncollectible accounts.

Q.1 What is internal control, and what are the objectives of a well-designed internal control

structure in an organization?

Notes:

1. Include in your post that you attended the live lecture

2. provide a summary of your key takeaways from the lecture

Book for references

Financial Accounting: Tools for Business Decision Making 9

th

Kimmel, Weygandt and Kieso

2019 Wiley