Accounting Internal Controls That Must Essay

Open, View, and/or
Download this Document

Total Length: 535 words ( 2 double-spaced pages)

Total Sources: 2

Page 1 of 2

The proper authorization to complete an inventory also needs to include training on how to manage the exceptions that often occur when physical counting is taking place (Corman, 1988).

The third principle to have adequate documents and records in place that can be quickly be used by the teams completing the audits. This also needs to be preceded with a training session focused on how to also manage exceptions to the paperwork as well, as each company's physical inventory processes are unique to their specific business models (Randall, 1984).

The fourth and fifth principles are physical controls and independent checks on performance.

Stuck Writing Your "Accounting Internal Controls That Must" Essay?

View All Our Example Accounting Internal Controls That Must Essay

Have A Custom Example Essay Written

These two principles need to anchor all training activity and also be continually audited to ensure performance to standards set over decades are attained. Physical controls and independent checks are also indispensable to the audit and final approval of physical inventory levels, which is the first step in reconciling financial statements and closing out a financial period (Corman, 1988). There also needs to be a coordinated strategy across all of these factors to ensure there is a unified audit can be completed with a high level of accuracy......

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Accounting Internal Controls That Must" (2012, June 26) Retrieved May 19, 2025, from
https://www.aceyourpaper.com/essays/accounting-internal-controls-64409

Latest MLA Format (8th edition)

Copy Reference
"Accounting Internal Controls That Must" 26 June 2012. Web.19 May. 2025. <
https://www.aceyourpaper.com/essays/accounting-internal-controls-64409>

Latest Chicago Format (16th edition)

Copy Reference
"Accounting Internal Controls That Must", 26 June 2012, Accessed.19 May. 2025,
https://www.aceyourpaper.com/essays/accounting-internal-controls-64409
   

Open, View, and/or
Download this Document
order custom essay example