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ATARMAxxing · QCE Accounting revision notes

Internal controls for cash management

Cash management
3 · Internal and administrative controls

What this note covers

  1. Why internal controls matter for a sole trader
  2. Separation of duties
  3. Bank reconciliation
  4. Petty cash systems
  5. Authorisation limits
  6. How controls interact — a systems view
  7. Evaluating the overall effectiveness of cash controls in a sole trader

7 sections · 14 key terms & formulas · 6 common mistakes

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QCE Accounting · revision note 4 of 20