Chapter7CashandReceivables-UTEPBusiness.pptVIP

Cash and Receivables Sid Glandon, DBA, CPA Associate Professor of Accounting Cash and Cash Equivalents Cash coin and currency demand deposits Cash equivalents Short-investments 90 days Money market funds Treasury bills Commercial paper Internal Controls Separation of duties Checking accounts Petty cash funds Physical protection of cash Protection of the accounting information system records Bank reconciliations Bank Reconciliation Three steps Reconciliation per bank Reconciliation per book Adjusting journal entries Items Not Considered Cash Overdraft without the right of offset Restricted ca