Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I could use some help on exactly how to approach this, and how someone might complete this problem. Thanks! Your assignment is a paper that

I could use some help on exactly how to approach this, and how someone might complete this problem.

Thanks!

Your assignment is a paper that details out the internal controls you would place in a business that is in the Gas, Food, Convenience Stores industry. Example would be a McDonalds combined with Gas and convenience store.

This scenario is: At the end of each shift the cash register is totaled out and a deposit has been placed in the safe on premises. Sometime in the next day a person responsible to pick up the deposit from the safe and deposit at the bank will do so. To ensure that everything is properly recorded and controlled you are to work with a individual within the company to design and implement a program that the store managers/ clerks enter what was counted/deposited in the bag that eventually makes it to the bank. The information that is entered will be assessable to various employees / management as backup to the books and records of the overall company that owns a total of 5 stores. Your job is to oversee and help design the way you feel the program should operate. Keeping in mind the internal controls you feel are needed with what you want them to do and placing a written plan of how you are keeping everything under control, making sure it will do what you expect, proper communication / instruction to all individual who will be implementing your controls.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Murder Audit

Authors: Michelle Cornish

1st Edition

1775083624, 978-1775083627

More Books

Students also viewed these Accounting questions