Sales: Sales: Support: Support:
Academic writing services  
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Accountings Control Reports essay
← Using AccountingCapital Adequacy →

Accountings Control Reports. Custom Accountings Control Reports Essay Writing Service || Accountings Control Reports Essay samples, help


This paper is going to discuss about internal controls in business, the inappropriate cash procedures, and the inappropriate inventory procedures and conclude with recommendations. The aim of internal controls is to create an environment where, mistakes get low chances of occurring and dishonesty cases are easily caught. Although some of the internal control principles seem plain old common sense, those who have ignored them at some point can confess what it cost them.

Internal controls

Anderson (2008) argues that, this is a process implemented by a company’s Board of Directors and Management, and it is put in place to ensure reasonable assurance in effectiveness and efficiency of operation in the business reliability of reporting, complying with rules, laws and regulations governed by GAAP, FASB, and GASP. Environmental control, risk assessment, control procedures, monitoring of all of the above (the overall system) are the five key elements of implementing internal control.

The role of internal control is mainly to protect a company from malice like fraud and give the company a chance to comply with principles of accounting which are considered appropriate and they are referred to as Generally Accepted Accounting Principles (GAAP).

These issues protect the company from fraud, collusion, and crime injuries. Generally internal control aids in informing the management the inconsistencies, poor production and inadequate production by both personnel and equipment.

Types of internal control

According to Anderson (2008), there are three types of internal control which include; detective controls which are designed to detect irregularities and errors which may have occurred. The second one is the corrective controls which are designed to correct errors and irregularities which could have been detected and the final one is the preventive controls which are designed to keep errors or irregularities from occurring in the first place.

For instance, internal controls encourage strong promotions that can produce high quality goods and services at the lowest cost possible. This is achieved by limiting excessive inventory, high equipment goods and excessive utilities. Operational costs should be maintained within a reasonable budget.

Inappropriate cash procedures

One of the inappropriate cash procedures in this business is the banking of daily takings by whoever available. Not everyone is trustworthy and money at hand is very tempting. B. Pitt the business owner could assign one trusted person to be receiving this money and banking it so that he will account for any losses. Another inappropriate cash procedure is the taking of money from cash registers by any assistant to pay for small expenditure items like milk and stationery. One can steal and deny that he spent the money on these small expenditures. The third one is lack of checking bags of staff to ensure maintenance of security; this will encourage theft as these staff members will always know that no one bothers to check their bags as they leave work. B. Pitt should ensure restriction access to petty cash; keep cash transaction to minimum and keep money coming in separate from money paid out (Rezaee 2002).

Inappropriate inventory procedures

Inventory management is very crucial in any business. If inappropriate inventory procedures are used in any business it is bound to break down and profitability can be easily eroded. Some of the considerations that B. Pitt need to put in place are; to ensure appropriate inventory procedures are put in place and some of them include; establishing benchmarks and quantifying opportunities for improvement, he should evaluate and develop policies and procedures for his company, optimize inventory holdings and replenish and align systems and functionality to business requirements and above all, train his employees in order to improve the current inventory management approach. Training will reinforce the basic principle and improve competency levels (Rezaee 2002).


B. Pitt should select his employees carefully and this can be done by using background checks that will have information about their employees’ prior critical records. He can also access reference checks if education verification is mandatory. He should strictly supervise his employees on a regular basis and this can be made easy by installing covert or overt video equipment to supervise the employees’ actions. He should improve the business accounting system by having one individual responsible for it and not any employee.

B. Pitt should consider limiting each employee to a specific task to end confusions so that if something goes wrong some where, he knows who to ask. Cases like any assistant can do this and that should stop for Hats Galore to continue operating effectively. He should also ensure staff bags are checked always before they leave so as to maintain security. Not anybody should unpack stock when delivered, there should be somebody employed for this work. B. Pitt’s number of employees is still low and he should consider employing more so that all the departments get enough personnel.

Accountings Control Reports. Custom Accountings Control Reports Essay Writing Service || Accountings Control Reports Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Capital Adequacy
  2. Reduction in the Sales Level
  3. Using Accounting
  4. The Accounting

order now

Order now
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers: provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.

Get 15% off your first custom essay order

Order now

from $12.99/PAGE