Financial Accounting Seven: Cash Controls And Bank Reconciliations

This course is designed for those interested to learn the basics of financial accounting that focuses on internal controls; what they are, why they are useful, and their objectives. Also learn about bank reconciliations control which provides more assurance over the revenue cycle, purchases cycle, and payroll cycle. Read more.

Robert Bob

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Course Skill Level

Beginner

Time Estimate

8h 45m

Robert (Bob) Steele CPA, CGMA, M.S. Tax, CPI

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About This Course
Curriculum

About This Course

Who this course is for:

Accounting students
Business owner
Anyone who wants to learn accounting

What you’ll learn:

Bank reconciliations
Setting up and recording of a petty cash account

Requirements:

No prior knowledge is required to take this course

In this course, 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 petty cash account, a process that can be more complex than if first seems.

Our Promise to You

By the end of this course, you will have learned cash control and bank reconciliation.

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Get started today and learn more about internal controls and bank reconciliation.

Course Curriculum

Section 1 - Introduction
	Bank Reconciliations And Cash Internal Controls Overview	00:00:00
Section 2 - Internal Controls Overview And Cash Internal Controls Introduction
	Internal Controls Overview And Cash Internal Controls Introduction Overview	00:00:00
	Internal Controls Overview	00:00:00
	Cash Internal Controls Overview	00:00:00
	Multiple Choice Questions One – Cash And Internal Controls	00:00:00
Section 3 - Cash Receipts Internal Controls
	Cash Receipts Internal Controls Overview	00:00:00
	Cash Receipts Internal Controls	00:00:00
	Multiple Choice Questions Two – Cash And Internal Controls	00:00:00
Section 4 - Cash Disbursements Internal Controls
	Cash Disbursements Internal Controls Overview	00:00:00
	Cash Disbursements Internal Controls	00:00:00
	Multiple Choice Questions Three – Cash And Internal Controls	00:00:00
Section 5 - Bank Reconciliations
	Bank Reconciliations Overview	00:00:00
	Bank Reconciliations	00:00:00
	Bank Reconciliation January	00:00:00
	Bank Reconciliation Adjusting Entries January	00:00:00
	Bank Reconciliation February	00:00:00
	Bank Reconciliation February Adjusting Entries	00:00:00
	Multiple Choice Questions Four – Cash And Internal Controls	00:00:00
Section 6 - Petty Cash
	Petty Cash Overview	00:00:00
	Petty Cash	00:00:00
	Petty Cash Journal Entries – Part One	00:00:00
	Petty Cash Journal Entries – Part Two	00:00:00
	Multiple Choice Questions Five – Cash And Internal Controls	00:00:00
	Multiple Choice Questions Six – Cash And Internal Controls	00:00:00
	CPA Test Preparation – Part One	00:00:00
Section 7 - Comprehensive Problem
	Comprehensive Problem Overview	00:00:00
	Comprehensive Problem – Part One	00:00:00
	Comprehensive Problem – Part Two	00:00:00
	Comprehensive Problem – Part Three	00:00:00
	Comprehensive Problem – Part Four	00:00:00
	Comprehensive Problem – Adjusting Entries – Part One	00:00:00
	Comprehensive Problem – Adjusting Entries – Part Two	00:00:00
	Comprehensive Problem – Financial Statements – Part One	00:00:00
	Comprehensive Problem – Financial Statements – Part Two	00:00:00
	Comprehensive Problem – Closing Process – Part One	00:00:00
	Comprehensive Problem – Closing Process – Part Two	00:00:00
	Multiple Choice Questions Seven – Cash And Internal Controls	00:00:00
	CPA Test Preparation – Part Two	00:00:00
Section 8 - Definitions And Key Terms
	Deposits In Transit	00:00:00
	Gross Method	00:00:00
	Invoice	00:00:00
	Liquid Assets	00:00:00
	Liquidity	00:00:00
	Outstanding Check	00:00:00
	Petty Cash	00:00:00
	Purchase Order	00:00:00
	Purchase Requisition	00:00:00
	Vendee	00:00:00
	Vendor	00:00:00
	Bank Reconciliation	00:00:00
	Bank Statement	00:00:00
	Canceled Checks	00:00:00
	Cash	00:00:00
	Cash Equivalents	00:00:00
	Cash Over And Short	00:00:00
	Check	00:00:00
	Check Register	00:00:00
Section 9 - Discussion Questions And Downloadable Materials
	Discussion Question One – Principles Of Internal Control	00:00:00
	Discussion Question Two – Voucher System	00:00:00
	Discussion Question Three – Outstanding Items In Bank Reconciliation	00:00:00
	Discussion Question Four – Petty Cash	00:00:00
	Discussion Question Five – Bank Reconciliation	00:00:00
	Discussion Question Six – Adjustments During Bank Reconciliation	00:00:00
	Discussion Question Seven – Internal Control And Purpose	00:00:00
	Discussion Question Eight – Cash Controls	00:00:00
	Downloadable Materials	00:00:00