The control of Cash

Introduction

This report outlines the feature of internal concurs and property management for the rise up Sport. It will pay particular attention to supply a whole internal guarantee get wording and the control oer cash that is very important for the retailer. The specific cash control includes cash receipts and cash payments. The report will pass recommendations and support them by using examples.

1.The feature of Internal control

1.1 adequate personnel

The employees should be care full phase of the moony selected. Each individual should thoroughly understand his or her function and its relationship to other functions in the store. (Gaffikin, Michael, 1993, pg298) any new staff would accept an extensive training.

1.2 Assignment of responsibility

Organization of the self-coloured should fix responsibility for functions so that areas of hit are understandably delineate. Responsibility and authority for a given function should non be shared, because this may result in duplication of bm and in jobs going undone if individuals think that another is execute the assignment. (Leo Duffy, Ian Monro, 1991, pg280) For instance, in the sky tower casino, when the layers and backers ask for chips, the dealer would re-sentencing the money to the same amount of chips and stuffs the money into a slotted boxful. At the same time, the dealer notices another staff to record cash receipt to the computer.



At the end of the shift, a drop team exchanges the drop box containing the money for an empty drop box to be used by the next shift.

1.3 Division of work

Division of work is one of the most important facets of the internal control. The duties of individuals should be defined so that no single individual has complete control over a sequence of related transactions. (Gaffikin, Michael, 1993, pg299) Employees who are accountable for keeping records of a firms assets should not...

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