MGMT 1A Chapter Notes - Chapter CR: Money Market Fund, Internal Control, Financial Statement
Document Summary
Cash includes: currency, coins, money in the bank, personal checks. Cash equivalents include: t-bills, money market funds. Cash equivalents and marketable securities - all highly liquid investments with maturities of 3 months or less at the date of purchase are classified as cash equivalents. Authorization : need to authorize everything (ex. signing check, Custody / safeguarding : protect your assets (ex. safeguarding. Comparison : ensure that your bank account is reconciled wallet, checkbook, etc. ) need to compare warehouse inventory to inventory ledger, and recognize it)
