Source documents of an accounting system, Financial Management

Assignment Help:

Source documents of an accounting system:

Source documents are those documents that identify the particular transaction that is being recorded.  They act as an internal control procedure to ensure that only valid transactions are recorded into the accounting system and as an audit trail so that individual transactions can be traced if required.

Examples of source documents would be:

  • Invoices: provided by suppliers
  • Receipts: issued by the organisation when payments are made to it
  • Cheques butts: records the payment of accounts
  • Contracts
  • Transaction notification statements: issued when accounts are paid on-line
  • Expense authorisations: usually an internal document authorising the expenditure of petty cash etc

 


Related Discussions:- Source documents of an accounting system

Short-term volatility position, (a) The position of an agency that sells a ...

(a) The position of an agency that sells a callable coupon bond. We supposed that coupon bond has a maturity of 3 years and is callable only at the second year. (b) The market t

Explain inventory approach to cash management, Q. Explain Inventory approac...

Q. Explain Inventory approach to cash management? This method analysis cash in the same way as engine inventory such that EOQ models may be employed. In such conditions cash

Weak form level of efficiency-forms of efficiency, Weak form level of effic...

Weak form level of efficiency This level states that share prices fully reflect information in historic share price movement and patterns (past information/historic information

Caselet, Suggestion regarding credit limit. should it be approved or not, w...

Suggestion regarding credit limit. should it be approved or not, what should be the amount of credit limit that electronics give to booth plastics

Propose which investment plan, Problem There are two investment plans i...

Problem There are two investment plans in the market whose details are given below based on which you need to decide which investment plan you need to select. Propose which inv

Evaluate the fair value of the net assets, IFRS 3 Business combinations n...

IFRS 3 Business combinations necessitate goodwill on gaining to be calculated at the date control is gained. The second gaining gives ROB a 75% holding and consequently control o

Cash deficit - cash budget, In two of the four months of the cash budget Th...

In two of the four months of the cash budget Thorne Co has a cash shortage with the highest cash deficit being the opening balance of $40000. This cash shortage which has occurred

How debt securities is different from term loan, How Debt securities is dif...

How Debt securities is different from term loan Debt securities are different from term loans provided by financial institutions and banks to the company. Term loans are long t

#title.OPERATING CYCLE, DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEG...

DISCUSS THE APPLICABILITY OF OPERATING CYCLE IN VEGETABLE GROWING.

Operating cycle, Uses of operating cycle in business

Uses of operating cycle in business

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd