ACC 220 Week 4 Individual Assignment Internal Cash Control

ACC 220 Week 4 Individual Assignment Internal Cash Control

Write a 700- to 1,000-word paper that addresses which internal controls are not being followed in these listed situations:

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• The accounting department receives from sales invoices once a month.  Most of the information is missing on the invoices.
• Rob, Sue, and Bob use the same cash register at the donut shop.
• Sam does the ordering of materials at the beginning of every month and pays the bill.
• Bank reconciliations are done by the person who is responsible for all cash responsibilities.
• New checks came in and are left on the shelf with other supplies.
• Everyone has access to the computer system and the last audit was seven years ago by the former accountant.

Include how a company might use the five basic principles of cash management to increase accuracy for a business.  Please explain all of the internal controls substantively.

Format your paper according to APA standards.