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| The process of comparing the bank's balance of an account with the company's balance and explaining any difference to make them agree. |
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| A fee charged by a bank for the use of its service. |
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| A monthly statement from the bank that shows the depositor's bank transactions and balances. |
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| Short-term, highly liquid investments that can be converted to a specific amount of cash. |
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| Minimum cash balances required by a bank in support of bank loans. |
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| Deposits recorded by the depositor but not yet been recorded by the bank. |
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| Electronic Funds Transfer |
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Definition
| A disbursement system that uses wire, telephone, or computers to transfer funds from one location to another. |
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| A dishonest act by an employee that results in personal benefit to the employee at a cost to the employer. |
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| The three factors contribute to fraudulent activity by employees, Opportunity, Financial Pressure, and Rationalization. |
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| Company employees who continuously evaluate the effectiveness of the company's internal control system. |
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| All of the related methods activities adopted within an organization to safeguard its assets and enhance the accuracy and reliability of its accounting records. |
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| A check that is not paid by a bank because of insufficient funds in a customer's bank account. |
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| Checks issued and recorded by a company but not yet paid by the bank. |
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| A cash fund used to pay relatively small amounts. |
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| Cash that must be used for a special purpose. |
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Term
| Sarbanes-Oxley-Act of 2002 |
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Definition
| Regulations passed by Congress to try to reduce unethical corporate behavior. |
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Definition
| An authorization form prepared for each payment in a voucher system. |
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Term
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Definition
| A network of approvals by authorized individuals acting independently to ensure that all disbursement by check are proper. |
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