Internal control over cash is the process which maintains the quality of financial operations and protects cash from the access of the third people with the help of various techniques and policies like signatures and record of cash withdrawal and other transactions in the databases. It is natural that the modern world goes round with the help of money and it is important to insure people in the safety of their finance, financial operations, banking services, etc. The success and quality of banking services and control over cash can be maintained by segregation of duties; authorization and processing of disbursements; managing restricted funds and check signing. So, the first method is the segregation of duties which is based on the participation of several sides in the process of disbursement – the receiver and the bank, company, accountant, etc.
Everyone has his own duty and controls the operation on different steps. The next method is authorization and processing of disbursements which is associated with the matter that the disbursement is impossible without the identification of the receiver, who has to show his ID or other documents which prove his identity. So that it is impossible to withdraw the cash with the help of ATM which require no documents. Check signing is one of the most widespread practices which are supposed to control cash. When one receives the disbursement in the form of check, he is asked to put his signature on it to make sure the handwriting and the signature are similar to the example ones. Every bank and company has the example of the client’s of employee’s signature and it is easy to define whether the signature put on the check is right or not.
Internal control over cash can be called a useful topic for the research, because the student has the chance to see the peculiarities of the protection of cash disbursements in banks and other organizations. In order to succeed in writing a research project one should brainstorm the best ideas for the investigation related with internal control over cash, its methodology, the relevance of the topic, share his expectations on the research and predict the results of the investigation. Finally, one should compose a detailed list of the issues which will be observed in the paper.
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