Accounting Controls: What You Need to Know Part 1 (Currently Unavailable)

Author: Paul McCormack

CPE Credit:  2 hours for CPAs

This course covers accounting controls development, process, transactions, cash collection, and department-specific controls. we examine a company’s entire control environment from the moment cash enters the organization, to the moment it leaves. We review the process that companies can follow to determine whether to deploy an internal control and how to ensure that control functions as designed.

We will also dedicate a portion of the webinar to the development of controls within the corporate functions such as the accounting and purchasing functions. Finally, we will discuss the components of a compelling business case to justify the implementation of an internal control.

Businesses run on controls. Whether those internal controls relate to the disbursement of payroll or payment of vendors, companies face the threat of fraud and abuse, and the eventual collapse of the business without them.

Publication Date: December 2015

Designed For
CPAs responsible for internal control creation

Topics Covered

  • Accounting controls development, deployment, and optimization process
  • Transaction based controls relating to activities such as cash collection and shipping
  • Department-specific controls relating to the accounting, finance, payroll, and purchasing functions, among others

Learning Objectives

  • Recognize the role of internal controls in facilitating business transactions and protecting the company and its employees
  • Identify which departments justified increased controls and how to prevent "over controlling" a function
  • Recognize how to conduct a quick assessment of a company's internal control environment

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None

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