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Bank Reconciliations & Cash Internal Controls

Internal controls, bank reconciliations, and internal controls related to checking account
Instructor:
Robert (Bob) Steele
874 students enrolled
English [Auto-generated]
Internal Controls
Cash Receipts Internal Controls
Cash Disbursements Internal Controls
Bank Reconciliation
Petty Cash
Comprehensive Problem
Definitions & Key Terms

We will discuss internal controls including what they are, why they are useful, and the objectives of internal controls. We will then move to internal controls specific to cash including bank reconciliations. 

Bank reconciliations are important controls for both large and small companies. After the double entry accounting system itself, the bank reconciliation is one of the most important internal controls. The bank reconciliation will compare the bank statement to the cash book balance as of a point in time and reconcile the difference between the two. The bank reconciliation process will provide more assurance of the cash account and will provide more assurance over many other accounting processes because most accounting processes include cash. For example, reconciling the bank account provides more assurance over the revenue cycle, purchases cycle, and payroll cycle. 

We will also discuss the setting up and recording of a petting cash account, a process that can be more complex then if first seems. 

In addition to instructional video, this course will include downloadable

•    Downloadable PDF Files

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material.

Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of Excel, like addition, subtraction, and cell relationships.

Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple choice questions and discussing how to approach these questions.

Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple choice questions.

Discussion Question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.

Who will we be learning from?

You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together curriculum.

You will be learning from somebody who is a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a practicing CPA the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels.

As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.

The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro. 

Content Includes: 

  • Internal controls
  • Cash receipts internal controls
  • Cash disbursements internal controls
  • Bank reconciliations
  • Petty cash
  • Accounting cycle
  • Definitions and key terms

Introduction

1
Introduction

Internal Controls Overview and Cash Internal Controls Introduction

1
2 Internal Controls Overview and Cash Internal Controls Introduction Overview
2
PDF - 10 Internal Control Goals
3
10 Internal Controls
4
PDF - 20 Cash Internal Controls Overview
5
20 Cash Internal Controls Overview
6
Multiple Choice Questions 1 - Cash and Internal Controls
7
Discussion Question 1 Cash & Internal Controls
8
Accounting Comic Break

Cash Receipts Internal Controls

1
3 Cash Receipts Internal Controls
2
PDF - 30 Cash Receipts Internal Controls
3
30 Cash Receipts Internal Controls
4
Multiple Choice Questions 2 - Cash and Internal Controls
5
Discussion Question 2 Cash & Internal Controls
6
Discussion Question 3 Cash & Internal Controls
7
Accounting Comic Break

Cash Disbursements Internal Controls

1
4 Cash Disbursements Internal Controls
2
PDF - 40 Cash Dismemberment Internal Controls
3
40 Cash Disbursements Internal Controls
4
Multiple Choice Questions 3 - Cash and Internal Controls
5
Discussion Question 4 Cash & Internal Controls
6
Discussion Question 5 Cash & Internal Controls
7
Accounting Comic Break

Bank Reconciliations

1
5 Bank Reconciliations
2
PDF - 50 Bank Reconciliation D & D
3
50 Bank Reconciliation-Accounting Financial
4
Excel Download
5
9.10 Bank Reconciliation January
6
Excel Download
7
Worksheet - 9.12 Bank Reconciliation Adjusting Entries January
8
Excel Download
9
Worksheet - 9.15 Bank Reconciliation February
10
Excel Download
11
Worksheet - 9.20 Bank Reconciliation Feb. Adjusting Entries
12
Multiple Choice Questions 4 - Cash and Internal Controls
13
Short Calculation 1
14
Discussion Question 6 Cash & Internal Controls
15
Accounting Comic Break

Petty Cash

1
6 Petty Cash
2
PDF - 60 Petty Cash
3
60 Petty Cash
4
Excel Download
5
Worksheet - 800.10 Petty Cash Journal Entries Part 1-Accounting Financial
6
Worksheet 800.20 Petty Cash Journal Entries Part 2-Accounting Financial
7
Multiple Choice Questions 5 - Cash and Internal Controls
8
Short Calculation 2
9
Discussion Question 7 Cash & Internal Controls
10
Accounting Comic Break

Comprehensive Problem

1
7 Comprehensive Problem
2
Excel Download
3
1 Accounting Financial - Comp Prob Service Co 1 Part 1
4
2 Accounting Financial - Comp Prob Service Co 1 Part 2
5
3 Accounting Financial - Comp Prob Service Co 1 Part 3
6
4 Accounting Financial - Comp Prob Service Co 1 Part 4
7
5 Accounting Financial - Comp Prob Service Co 1 Adjusting Entries part 5
8
6 Comp Prob Service Co 1 Adjusting Entries part 6
9
7 Accounting Financial - Comp Prob Service Co 1 Financial Statements part 7
10
8 Accounting Financial - Comp Prob Service Co 1 Financial Statements part 8
11
9 Accounting Financial - Comp Prob Service Co 1 Closing Process Part 9
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10 Comp Prob Service Co 1 Closing Process part 10
13
Discussion Question 8 Cash & Internal Controls
14
Multiple Choice Questions 6 - Cash and Internal Controls
15
Multiple Choice Questions 7 - Cash and Internal Controls
16
Accounting Comic Break

Definitions & Key Terms

1
8 Definitions & Key Terms
2
Bank Statement Definition - What is Bank Statement
3
Canceled Checks Definitions - What are Canceled Checks
4
Cash Definition - What is Cash
5
Cash Equivalents Definition - What are Cash Equivalents
6
Cash Over and Short - What is Cash Over and Short
7
Check Definition - What is Check
8
Check Register Definition - What is Check Register (1)
9
Deposits in Transit - What are Deposits in Transit
10
Gross Method Definition - What is Gross Method
11
Invoice Definition - What is Invoice (1)
12
Liquid Assets Definition - What are Liquid Assets
13
Liquidity Definition - What is Liquidity
14
Outstanding Check Definition - What are Outstanding Checks
15
Petty Cash Definition - What is Petty Cash
16
Purchase Order Definition - What is Purchase Order
17
Purchase Requisition Definition - What is Purchase Requisition (1)
18
Bank Reconciliation Definition - What is Bank Reconciliation
19
Vendee Definition - What is Vendee
20
Vendor definition - What is vendor
21
Accounting Comic Break
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Certificate of Completion