Accounting Category: Internal controls

Accounting Articles

December 4, 2013

Fraud related to pocketing cash is not uncommon. One of the ways to steal cash used by fraud perpetrators is lapping schemes. In this article, we review how lapping schemes work and how they can be limited or prevented in your company.

October 24, 2012

Consignment inventory is one of the marketing methods used to attract customers. One variation of consignment is when a seller delivers goods to a customer (buyer) but retains the title to the goods until the buyer uses the goods. In this article we explore accounting for this type of consignment arrangement.

September 11, 2012

Record keeping is essential for operating a business. Record keeping can be manual or computer-based. Both ways have their advantages and disadvantages. In either case, cost of record keeping is usually high.

May 6, 2012

Learn about Sarbanes-Oxley Act (SOX), its provisions and impact on public companies and their auditors.

May 30, 2011

Explanation of accounting for customer returns, sales and return allowances, purchase allowances, cash refunds and store credits.

September 10, 2009

Physical inventory and purposes; three phases: planning and preparation, execution, and analysis of results; methods of conducting physical inventory such as bar-code readers, count cards, and count sheets.

September 9, 2009

Account reconciliation process and two types of reconciliations; bank reconciliation with step by step instructions.

September 9, 2009

General ledger to sub-ledger reconciliation type with step by step instructions.

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Accounting Categories
Accounting categories represent a collection of accounting guides and answers related to one accounting area.