100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
WGU D102 Financial Accounting Unit 5 $7.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. WGU D102 Financial Accounting Unit 5
  4.  
  5. WGU D102 Financial Accounting Unit 5

Exam (elaborations)

WGU D102 Financial Accounting Unit 5
 9 views  0 purchase
  • Course
  • WGU D102 Financial Accounting Unit 5
  • Institution
  • WGU D102 Financial Accounting Unit 5

WGU D102 Financial Accounting Unit 5

Preview 1 out of 2  pages

Document information

  • October 9, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • wgu d102 financial accounting unit 5

Written for

  • WGU D102 Financial Accounting Unit 5
  • WGU D102 Financial Accounting Unit 5

Seller

avatar-seller
Nursephil2023

Reviews received

Content preview

WGU D102 Financial Accounting
Unit 5
internal control structure - -1. the control environment
2. risk assessment
3. control activities
4. information and communication
5. monitoring

- control environment - -the actions, policies, and procedures that reflect
the overall attitudes of top management about control and its importance to
the entity

- organizational structure - -lines of authority and responsibility

- audit committee - -members of a company's board of directors who are
responsible for dealing with the external and internal auditors

- control activities - -policies and procedures used by management to meet
their objectives; also control procedures

- preventative controls - -internal control activities that are designed to
prevent the occurrence of errors and fraud

- detective controls - -internal control activities that are designed to detect
the occurrence of errors and fraud

- segregation of duties - -a strategy to provide an internal check on
performance through separation of authorization of transactions from
custody of related assets, operational responsibilities from record-keeping
responsibilities, and custody of assets from accounting personnel

- three functions that should be performed by separate departments or
people - -1. authorization-authorizing and approving the execution of
transactions
2. record keeping-recording the transactions in the accounting records
3. custody of assets-having physical possession of or control over the assets
involved in transactions

- independent checks - -procedures for continual internal verification of
other controls

- cash - -coins, currency, money orders, checks, and funds on deposit with
financial institutions

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

84866 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.49
  • (0)
  Add to cart