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Ch 5: Internal Controls in Accounting: Homework Help

About This Chapter

The Internal Controls in Accounting chapter of this College Financial Accounting Homework Help course helps students complete their internal controls in accounting homework and earn better grades. This homework help resource uses simple and fun videos that are about five minutes long.

How it works:

  • Identify which concepts are covered on your internal controls in accounting homework.
  • Find videos on those topics within this chapter.
  • Watch fun videos, pausing and reviewing as needed.
  • Complete sample problems and get instant feedback.
  • Finish your internal controls in accounting homework with ease!

Topics from your homework you'll be able to complete:

  • Safeguards and controls of banking
  • Control of cash and control of cash receipts
  • Earnings management
  • Bank reconciliation
  • Sarbanes-Oxley Act
  • Purpose of the Securities and Exchange Commission

14 Lessons in Chapter 5: Internal Controls in Accounting: Homework Help
Test your knowledge with a 30-question chapter practice test
Typical Problems with Financial Information

1. Typical Problems with Financial Information

There are some problems with financial information, which is the information found on a company's financial statements. Learn more about financial statements and typical problems with financial information, including reporting errors, disagreements in judgment, and fraudulent financial reporting.

Internal Controls in Accounting: Definition, Types & Examples

2. Internal Controls in Accounting: Definition, Types & Examples

Internal controls in accounting are procedures that ensure the business is ran in the most effective, orderly, and accurate fashion. Explore definition, purpose, examples, and types of internal controls in this lesson.

Safeguards & Controls of Banking Activities

3. Safeguards & Controls of Banking Activities

As institutions trusted with our money, banks must have strong safeguards and internal controls in place to protect it. With this lesson, explore what safeguards and controls are, the goals of safeguards, and how banks achieve these goals.

Control of Cash: Definition & Methods

4. Control of Cash: Definition & Methods

Cash control refers to the act of managing credit, collection and disbursement of cash, and invoicing policies. Learn the components of cash and the methods of internal control which organizations use in cash control.

Control of Cash Receipts & Disbursements

5. Control of Cash Receipts & Disbursements

Companies and individuals work hard to maintain control over the cash that they acquire. This lesson explores how this is done, looking specifically at the use of cash receipts and cash disbursements, and provides an example of these concepts in action.

Earnings Management: Definition, Techniques & Examples

6. Earnings Management: Definition, Techniques & Examples

Earnings management is an accounting process that a company uses to make its financial reports look better. This lesson explores the concept of earnings management, defining it, and explaining the different techniques that companies might use.

What is Bank Reconciliation? - Definition, Purpose, Process & Examples

7. What is Bank Reconciliation? - Definition, Purpose, Process & Examples

Accountants regularly complete bank reconciliations, which is the balancing of a company's cash account balance with a corresponding bank account balance. Learn about the definition, purpose, examples, and process of preparing bank reconciliations.

Technology's Impact on the Internal Control System

8. Technology's Impact on the Internal Control System

An organization's internal control system is a policy that ensures that business is conducted effectively and efficiently. Examine the impact of technological developments on the accounting procedures in an organization.

Limitations of Internal Control in Financial Reporting

9. Limitations of Internal Control in Financial Reporting

In financial reporting, Internal Controls are the measures that an organization implements to conduct business in a precise, and effective manner. See the limits of internal controls in the effects of human error on the system, and the cost-benefit principle used in business.

The Sarbanes-Oxley Act: Definition and Explanation

10. The Sarbanes-Oxley Act: Definition and Explanation

Laws are sometimes put in place to protect investors from the effects of fraudulent accounting or business practices. One such law is the Sarbanes-Oxley, or 'SOX', Act. Learn the history and purpose of the Sarbanes-Oxley Act and how it works to prevent repeated incidents of fraud.

The Role of Auditors in the Accounting Process

11. The Role of Auditors in the Accounting Process

Auditors play a pivotal role in the accounting industry. In this lesson, you will learn what an auditor is, what they do, and the steps in the auditing process.

The Securities & Exchange Commission: Definition, History & Purpose

12. The Securities & Exchange Commission: Definition, History & Purpose

The Securities and Exchange Commission is the organization that oversees the accounting industry. In this lesson, the reader will explore the role of the SEC and examine the history and purpose of the organization.

Segregation of Duties: Definition & Examples

13. Segregation of Duties: Definition & Examples

Segregation of duties is an important part of protecting company assets such as money, inventory, and employee information. In this lesson, we'll define segregation of duties, explain how it works as an internal control, and provide examples.

Segregation of Duties: Benefits & Risks

14. Segregation of Duties: Benefits & Risks

A business puts internal controls in place to ensure its assets and records are protected from theft and errors. In this lesson, you will learn about segregation of duties.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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