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| Policies and procedures used to safeguard assets and produce accurate and reliable financial statements. |
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| The methods and records used to accurately report an entity's transactions and to maintain accountability for its assets and liabilities. |
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| Procedures which provide for efficient operation of the business and adherence to company policies. |
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| A subset of the board of directors that acts as a direct contact between the stockholders and the independent accounting firm. |
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| A form used by the accountant to reconcile or resolve any differences between the balance shown on the back statement for a particular account with the balance shown in the accounting records. |
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| A detailed list, provided by the bank, of all the activity for a particular account during the month. |
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| The group of key officers of a corporation and outside members responsible for the general oversight of the business with responsibility to protect the financial interest of stockholders. |
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| An investment that is readily convertible to a known amount of cash and has an original maturity to the investor of three months or less. |
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| Additions on a bank statement for such items as interest paid on the account and notes collected by the bank for the customer. |
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| Deductions on a bank statement for such items as NSF checks and various service charges. |
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| A deposit recorded on the books but not yet reflected on the bank statement. |
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| A report, required by Section 404 of the Sarbanes-Oxley Act, to be included in a company's annual report, in which management assesses the effectiveness of the internal control structure. |
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| Policies and procedures necessary to ensure that the business operates according to the plans of management. |
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| A form sent by the seller to the buyer as evidence of a sale. |
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| Used by the accounting department to verify the accuracy of all their information about a purchase before making payment for that purchase. |
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| A check written by a company but not yet presented to the bank for payment. |
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| Money kept on hand for making minor disbursements in currency and coin rather than by writing checks. |
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| A form sent by the purchasing department to the supplier detailing the items purchased from the supplier |
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| A form used by the receiving department to account for the quantity and condition of merchandise received from a supplier. |
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| An act of Congress in 2002 intended to bring reform to corporate accoutnability and stewardship in the wake of a number of major corporate scandals. |
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