Term
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Definition
| the analysis that details the items responsible for the difference between the cash balance reported in the bank statement and the cash balance in the ledger |
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Definition
| a summery of all transactions mailed to the depositor by the bank each month. |
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Definition
| coins, currency, checks, money orders, and money on deposit available for unrestricted withdrawal from banks and other financial institutions |
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Term
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Definition
| highly liquid investments that are usually reported with cash on the balance sheet |
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Term
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Definition
| the account used to record the difference between the amount of cash in a cash register and the amount of cash that should be on hand according to the records |
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Definition
| a requirement by some banks that depositors maintain minimum cash balances in their bank accounts |
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Term
| electronic funds transfer (EFT) |
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Definition
| a system in which computers rather than paper (money) are used to effect cash transactions |
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Term
| elements of internal control |
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Definition
| the control environment, risk assessment, control activities, information and communication, and monitoring |
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Term
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Definition
| the policies and procedures used to safeguard assets, ensure accurate business information, and ensure compliance with laws and regulations. |
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Definition
| a special-purpose cash fund to pay relatively small accounts |
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Term
| sarbanes-oxely act of 2002 |
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Definition
| an act passed by congress to restore public confidence and trust in the financial statements of companies |
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Definition
| a cash fund used for a special business need |
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Term
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Definition
| any document that serves as proof of authority to pay cash |
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Term
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Definition
| a set of procedures for authorizing and recording liabilities and cash payments |
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