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Definition
| report that explains the difference between the book(company) balance and the cash balance reported on the bank statement |
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Definition
| bank report on the depositors beginning and ending cash balances and a listing of its changes for a period |
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| checks that the bank has paid and deducted from the depositors account |
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| includes currency,coins and amounts on deposit in bank checking or savings account |
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| short-term, investment assets taht are readily convertible to a known cash amount or sufficiently close to their maturity date(usually within 90 days) so that market value is not sensitive to interest rate changes |
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Definition
| income statement account used to record cash overages and cash shortages arising from errors in cash receipts or payments |
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| document signed by a depositor instructing the bank to pay a specific amount to a designated recipient |
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Definition
| another name for a cash disbursements journal when the journal has a column for check numbers |
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Term
| Days’ sales uncollected |
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Definition
| estimate of number of days needed to convert inventory into receivables or cash; equals ending inventory divided by coast of goods sold and then multiplied by 365; also called days' stock on hand |
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Definition
| lists items such as currency, coins, and checks deposited and their corresponding dollar amounts. |
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| deposits recorded by the company but not yet recorded by its bank |
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| Electronic funds transfer |
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Definition
| use of electronic communication to transfer cash from one party to another |
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Definition
| all policies and procedures used to protect assets, insure reliable accounting, promote efficient operations, and urge adherence to company policies |
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Definition
| itemized record of goods prepared by the vendor that lists the customer's name, items sold, sales prices, and term of sales |
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Definition
| document containing a checklist of steps necessary for approving the recording and payment of an invoice; also called check authorization |
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Definition
| resources such as cash that are easily converted into other assets or used to pay for goods, services or labilites |
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Definition
| availability of resources to meet short term cash requirements |
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Definition
| checks written and recorded by the depositor but not yet paid by the bank at the bank statement date |
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Definition
| small amount of cash in a fund to pay minor expenses; accounted for using an imprest system |
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| Principles of internal control |
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Definition
| principles prescribing management to establish responsibility, maintain records, insure assets, separate record keeping from custody of assets, divide responsibility for related transactions apply technological controls and perform reviews. |
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Definition
| document used by the purchasing department to place and order with a seller |
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Definition
| document listing merchandise needed by a department and requesting it be purchased |
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Definition
| form used to report that ordered goods are received and to describe their quantity and condition |
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Term
| Sarbanes oxley report(SOX) |
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Definition
| created the Public Company Accounting Oversight Board, regulates analyst conflicts, imposes corporate governance requirements, enhances accounting and control disclosure, impacts insider transactions and executive loans, establishes new types of criminal conduct, and expands penalties for violations of federal securities laws. |
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Definition
| includes the signatures of each person authorized to sign checks on the bank account |
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| buyer of goods and servies |
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| seller of goods and services |
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Definition
| internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded |
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Term
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Definition
| journal(referred to as book of original entry) in which all vouchers are recorded after they have been approved |
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Term
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Definition
| procedures and approvals designed to control cash disbursements and acceptance of obligaitons |
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