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BUSS1030-无代写
时间：2023-04-24
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BUSS1030
Week 7
TUTOR: Sunny
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Tutor照⽚
- 悉尼大学本科毕业，目前在一家悉尼当地公司做Trust Accountant。
- 专业Professional Accounting & Finance。
- BUSS1030两年任教经验，BUSS1030成绩97，Accounting学科
均分HD，同时任教ACCT2011，成绩HD
- 兴业证券投行部实习；澳洲本地券商实习
- 2年+教学经验，累计授课时长150h+，累计辅导
学生200+
- 善于总结知识点，给出有针对性的练习以巩固，
了解考试形式，有丰富的会计辅导经验，累计带
过60h+的1V1课程
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你将解锁课堂隐藏福利 （详情咨询小助手）
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知识点目录 对应 textbook chapter6
7.2 What is working capital and why is its management important?
1. Working capital 营运资金
2. Important working capital items
3. Internal control structure 内部控制结构
4. The 3 main accounting issues for a business’ failure
7.3 Cash
1. Cash includes？
2. Simple cash controls
7.4 Bank Reconciliation 银行余额调节表/银行对账单
1. 定义
2. Causes of differences in the cash balance
3. Format and preparation of a bank reconciliation
7.5 Internal control over accounts receivable and accounts payable
1. Accounts Receivable 应收账款
2. Accounts Payable 应付账款
3. Inventory 存货
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Module 7 Internal Control：Managing and reporting working capital
7.2 What is working capital and why is its management important?
1. Working capital 营运资金
• A business’s working capital is the excess of its current assets (流动资产) over its current liabilities
(流动负债).
→ working capital = current assets − current liability
→ working capital should be enough to cover day to day operating activities
2. Important working capital items include:
• Cash—most liquid (最具流动性的)
• Accounts receivable
• Inventory
• Accounts payable
• Decision managers: working capital management/operating capital management/short-term
financial management
Too little working capital
▪ Risk not having enough liquidity 没有足够的流动性
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Too much working capital
▪ Risk not putting resources to their best use 资源没有得到充分利用
• businesses manage working capital to keep an appropriate balance between
(1) having enough working capital to operate and to handle unexpected needs for cash, inventory or
short-term credit; and
(2) having so much excess cash, inventory or available credit that profitability is reduced.
3. Internal control structure 内部控制结构
→Set of policies and procedures that directs how employees should perform a business’s activities
4. The 3 main accounting issues for a business’ failure are:
1) A lack of management systems, such as financial controls
2) A lack of financial planning and review
3) An inadequate level of financial resources
7.3 Cash
What is cash and what are some simple controls over cash receipts and cash payments?
1. Cash includes:
• Money on hand
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• Deposits in bank accounts 银行账户存款
• Cheque and credit card invoices that a business has received from its customers but not yet
deposited 企业从客户处收到但尚未存入的支票和信用卡发票
2. Simple cash controls
1) Controls over cash receipts
A business uses internal control procedures for cash receipts to ensure that it properly records the
amounts of all cash receipts in the accounting system, and to protect these from being lost or stolen.
Cash receipts 包括 cash sales 和 collections of accounts receivable
• For cash sales there are three main control procedures:
1) proper use of a cash register 正确使用收银机
2) Confirming the identity of customers paying by cheque (accepted and used rarely these
days)
3) matching the total of the amounts collected (cash plus credit card sales) against the total of
the cash register tape/POS (point of sales) system at the end of each employee’s shift and
report any difference between the two totals to a supervisor.
将收集的金额总额（现金加信用卡销售）与每个员工轮班结束时的收银机磁带/POS 机系统的
总金额相匹配，并将两个总金额之间的任何差额报告给主管。
• Cash procedures to safeguard cash from accounts receivable (课本 Exhibit 6.3)
Separation of duties 职责分离
The person collecting the cash should not be the same person that is recording or depositing
the cash. (收现金的人不应是记录或存入现金的同一个人)
→ prevents an employee from stealing undeposited amounts of cash and covering up the
theft by making a fictitious entry in the accounting records. 防止雇员偷窃未存入的现金数
额，并通过在会计记录中做虚假记录来掩盖偷窃行为。
List details 记录交易细节
Details of cash received, when it was received and from who.
Review of documentation may help the business discover that its employee is stealing
money.
Endorsement 签注
Employees should ensure each incoming amount is registered at the cash register.
• Additional procedure to safeguard cash receipts
a. Keeping a substantial amount of cash at the business overnight is taking an unnecessary risk
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of theft. By depositing all cash receipts on a daily basis, the business does not leave cash
unattended overnight. 将大量现金存放过夜会冒不必要的盗窃风险
b. The bank’s deposit records show the business’s cash receipts for each day. When the business
receives its monthly bank statement, it can check the daily bank deposits listed in the bank
statement against its ‘Cash’ account to determine that it deposited all its recorded cash
receipts in the bank and that it properly recorded all bank deposits in its ‘Cash’ account.
每个月可以将银行存款记录和公司的“现金”账户进行对账
2) controls over cash payment
a. basic rule: all payments authorized 所有付款都要授权
b. the business should pay only for approved purchases that are supported by proper documents.
企业只应支付由文件支持的且已批准的购买
c. immediately after payment, the owner should stamp ‘Paid’ on the supporting documents, along
with the date paid and the receipt number. →防止多次付款
例题演练Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1. Which of the following is NOT one of the reasons cash is the asset most likely to be stolen from a business?
a. It has no recorded identification marks.
b. It is difficult to prove that it has been stolen.
c. It is difficult to prove who stole it.
d. It is the most valuable asset for a business.
2. Which of the following is a good internal control for cash payments?
a. Payments to suppliers should be made as quickly as possible.
b. An experienced accountant should have total responsibility for all cash payment
functions.
c. Payments should be authorised before they are made.
d. Supporting documentation should be destroyed immediately after payment to avoid
incorrectly paying twice.
7.4 Bank Reconciliation 银行余额调节表/银行对账单
1. 定义：Schedule used to analyse the difference between the ending cash balance in a business’s
accounting records and the ending cash balance reported by the bank on the business’s bank
statement.
用于分析企业会计记录中的期末现金余额与银行在业务银行对账单上报告的期末现金余额之间的差额
的附表
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2. Causes of differences in the cash balance may include: 【课本 P234 Exhibit 6.4】
1) Deposits in transit 在途存款 (企业已经入账，但银行尚未记入)
定义：A cash receipt that a business has added to its cash account, but that the bank has
not added to the cash balance reported on the bank statement because the amount has not yet
"cleared" the bank.
Deposits recorded in business cash account > deposits reported on the bank statement
2) Outstanding or pending payments 未付或待付款项 (企业已付款，但银行尚未办理扣款)
The business has paid and deducted from its cash account but that the bank has not
deducted from the cash balance reported on the bank statement because the payment has
not yet ‘cleared’ the system.
Cash payments recorded in business account > honoured payments itemized on the bank statement
(银行对账单上的付款记录)
3) Direct deposits
Many bank accounts earn interest on the balance in the account.
把钱存在银行账户中会赚取利息，这些利息是银行直接记录到银行账单的，公司账单上通常没
有这笔利息的记录。
Deposits recorded in business cash account < deposits reported on the bank statement
4) Direct charges
▪ A bank frequently imposes a service charge for managing a depositor’s account and
deducts this charge directly from the bank account.
▪ NSF (not sufficient fund). 资金不足
A customer’s cheque that has ‘bounced’ (the business’s bank is unable to collect
because the customer’s bank account has insufficient funds to cover the cheque)
→ When this happens the customer still owes you the money.
5) Errors 人为失误
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
Which of the following would NOT be a reason for the difference between the bank balance in a business’
accounting records and the balance per the bank statement?
a. deposits in transit.
b. outstanding cheques.
c. charges made directly by the bank.
d. the bank balance at the end of the previous period.
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3. Format and preparation of a bank reconciliation
例题讲解：题目来源 tutorial 例题改编
You have been asked to help the Rancher Company prepare its bank reconciliation. You examine the
business’s accounting records and its bank statement at 31 May, and find the following information:
i. The ‘Cash’ account has a balance of $7753.24.
ii. The bank statement shows a bank balance of $3783.04.
iii. The 31 May cash receipts of $4926.18 were deposited in the bank at the end of that day, but were
not recorded by the bank until 1 June.
iv. Cheques issued and mailed in May but not included among the cheques listed as paid on the bank
(不包括在银行已缴付的支票中) statement were:
v. A bank service charge of $27 for May was deducted on the bank statement.
vi. A cheque received from a customer for $241 in payment of her account and deposited by the
Rancher Company was returned marked ‘NSF’ with the bank statement.
vii. Interest of $25.18 earned on the business’s bank account was added on the bank statement.
viii. The Rancher Company discovered that cheque no. 941, which was correctly written as $647.21
for the May electricity bill, was recorded as $627.41 in the business’s accounts.
Prepare a bank reconciliation on 31 May.
Rancher Company
Bank reconciliation
31 May
Cash balance from bank statement, 31 May: 3783.04
Add:
Deposit in transit 4926.18 4926.18
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Deduct:
Outstanding cheques:
No. 949 (518.65)
No. 957 (699.95) (1218.6)
Reconciled cash balance, 31 May 7490.62
Cash balance from business’s records, 31 May 7753.24
Add:
Interest earned on cheque account 25.18 25.18
Deduct:
Bank service charge (27)
NSF cheque (241)
Error: Cheque No. 941 written for $647.21 recorded as
$627.41 (少记了 647.21-627.41=19.8)
(19.8) (287.8)
Reconciled cash balance, 31 May 7490.62
解题注意事项
1. Bank Balance 对应银行账单; Book Balance 对应企业自己的账单
2. 银行对账单中，初始的 Book/Bank Balance 都使用 ending balance
3. 从上到下依次进行对账，出现 differences 的时候判断加/减在哪一方
4. 调节后的两个 final balance 应当是一样的数值
• Petty cash fund 零用备用金
Specified amount of money that is under the control of one employee and that is used for making.
Small cash payments for a business
• Reporting the cash balance on the balance sheet
7.5 Internal control over accounts receivable and accounts payable
1. Accounts Receivable 应收账款
定义: Amounts owed by customers to the business 客户欠企业的金额
1) Businesses make sales on credit for three basic reasons：
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i. selling on credit may be more convenient than selling for cash.
ii. offering credit will encourage customers to buy items they might not otherwise purchase.
iii. signal product quality. By allowing customers to pay after receiving, seeing and using the
goods, a business shows that it is confident about the level of its quality.
2) credit sales ≠ credit card sales
3) disadvantages of credit sales:
i. requires significant management effort 需要大量的管理投入→ Managers must make credit
investigations, prepare and send bills, and encourage payments from customers.
ii. There is always chance that purchaser will not pay (bad debts 坏账)
• Simple internal controls over accounts receivable
• Determining that a customer is likely to pay
o Credit application 信用申请
1.the name of the applicant’s employer and the applicant’s income;
2.the name of the applicant’s bank, her/his bank account numbers, and the balances
in his/her accounts;
3. a list of assets;
4. credit card account numbers and amounts owed;
5. a list of other debts.
• Monitoring the accounts receivable balances of its customers
‘2/10, net 30’→2% cash discount will be granted if they make payment within 10 days
if they do not make payment, then the full amount is due in 30 days
• Monitoring its total accounts receivable balance.
o If balance ↑, result from creditworthy customers? Or slowdown in cash collection?
▪ 显示在资产负债表中的应收帐款都是以 net realizable value（可变现净值）来计的
= Total owed by customers (the ‘gross’ amount) − an amount that it expects to be uncollectable.
#Aging analysis 账龄分析：the older a receivable is, the more likely it is to be uncollectable.
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1.Which of the following pieces of information would you not expect a potential credit customer to provide in a
credit application form?
a. the name of their spouse and their personal bank account details.
b. the name of their bank.
c. a list of assets.
d. a list of other debts.
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2. Accounts Payable 应付账款
定义: Amounts owed by suppliers for credit purchases 欠供应商的金额
▪ Simple controls over accounts payable
• Establishing control over who can obligate the business
A business should limit the number of employees who have the authority to make business
purchases.
• Establishing controls over payments
A business monitors the timeliness of its payments by having an employee keep track of the
credit terms of each account payable.
企业通过让员工跟踪每个应付账户的信用条款来监控其付款的及时性。
• Monitoring the total amount of accounts payable.
If balance ↑, result from increases in inventory? Or cash flow problems?
3. Inventory 存货
定义:Inventory is merchandise being held for resale.
▪ 为什么要 control inventory？
I. selling inventory is the primary way a retail or manufacturing business gets cash from operating
activities (and earns a profit).
II. business usually expects to turn over its inventory several times during the year. 企业通常希望高的
存货周转率
III. storing inventory is expensive, due to storage space, utilities and insurance costs.
IV. inventory can be stolen and/or become obsolete.
• Simple inventory controls
• Controlling the ordering and acceptance of inventory deliveries
A purchase order is a document authorising a supplier to ship the items listed on the
document at a specific price.
• Establishing physical controls over inventory while the inventory is being held for sale
• Periodically taking a physical count of its inventory to ensure accurate inventory records.
▪ Determining the cost of ending inventory 期末库存
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▪ Methods to account for inventory
（Chapter7 会再次提到；在 buss1030 这门课只作了解，具体会计方法在 ACCT1006 会学到）
1) Specific identification method
定义：Allocates costs to cost of goods sold and to ending inventory by assigning to each unit
sold and to each unit in ending inventory the cost to the business of purchasing that particular
unit
简单理解为 When each inventory item is unique/expensive
Eg. Motor vehicles, jewels
2) Weight average method
= total costs/total units
3) FIFO (First in, First out) 先进先出
4) LIFO (Last in, First out) 后进先出 x used in Australia
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
Which of the following is NOT a method for calculating the dollar value for inventory?
a. First in first out (FIFO).
b. Weighted average.
c. Specific identification.
d. Cost of goods sold.
文字题 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1.What simple controls should be established over accounts receivable?
ANS:
Before extending credit, a business should determine that a customer is likely to pay. This means that a credit
check should be done. The amount of credit extended should be based on the customer’s income, amounts of
other debt, etc. A business should monitor the accounts receivable balances of its customers. The business
must have an accounting system that allows the business to track each customer’s credit activity. It also needs
an organised collection effort. The business should monitor its total accounts receivable balance. The business
should investigate why its accounts receivable balance is increasing or decreasing.
2. Describe simple controls that might be established over accounts payable.
ANS:
A business should limit the number of employees who have authority to make business purchases. This might
entail establishing a purchases department. The business is concerned with making timely payments and with
getting credit for those payments. Credit terms should be monitored so that cash discounts may be taken. The
supplier’s monthly statements should be examined to make sure that proper credit has been given. The total
amount of accounts payable should be monitored because cash must be used in the immediate future to pay
these debts.
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3. What are the best ways to prevent both intentional and unintentional losses of cash?
ANS:
The business must hire competent and trustworthy personnel. It must also establish cash controls over cash
receipts and cash payments.
重难点总结
课后练习
TRUE/FALSE [Textbook - Accounting: Information for business decisions 4th Edition, Cunningham,
B. M. (2021)题库] Chapter 6 （对应 week 7）
Chapter 6 – Managing and Reporting Working Capital
1. Accounting issues are the basis for three of the top 10 reasons why small businesses fail.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
2. Working capital is the excess of total assets over total liabilities.
ANS: F (Working capital is the excess of current assets over total liabilities)
PTS: 1 DIF: Moderate TOP: Working capital
3. It is possible that a business could have negative working capital should current assets be less than current liabilities.
ANS: T PTS: 1 DIF: Difficult TOP: Working capital
4. Working capital is the excess of current assets over current liabilities.
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ANS: T PTS: 1 DIF: Easy TOP: Working capital
5. Working capital is a liquidity issue.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
6. Other terms for working capital management are operating capital management and short-term financial management.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
7. Other terms for working capital management are investment capital management and long-term financial management.
ANS: F (short-term financial management)
PTS: 1 DIF: Moderate TOP: Working capital
8. Working capital management is a balancing act between having enough liquidity versus having so much excess cash that
profitability is reduced.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
9. An appropriate amount of working capital is enough to finance the business’ long-term growth plus an extra amount in
case something happens.
ANS: F (finance the day-to-day operations)
PTS: 1 DIF: Moderate TOP: Working capital
10. A business’ cash includes cheque and credit card invoices, even if they have not yet been deposited.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
11. Basically cash is anything that a bank will accept as a deposit.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
12. The most likely asset to be stolen in a business is cash.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
13. For cash sales, the most important cash procedure is the proper use of a cash register.
ANS: T PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls)
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14. A business should deposit all cash receipts into the bank once a week.
ANS: F (should deposit daily)
PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls, Controls over cash receipts)
15. A basic internal control over cash payments is to make sure payments are only made for approved purchases, supported
by proper documentation.
ANS: T PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls, Controls over cash
receipts)
16. Bank reconciliations enable the business to report the correct cash balance on its income statement.
ANS: F (report cash balance on balance sheet)
PTS: 1 DIF: Moderate TOP: Cash (Bank reconciliations)
17. A deposit in transit is a cash deposit that has not yet been included in the Cash Account.
ANS: F (deposit in transit has been included in Cash Account, but has not yet been recorded by the bank)
PTS: 1 DIF: Moderate TOP: Cash (Bank reconciliations)
18. The Cash Account is the amount of money under the control of one employee used for making small cash payments for
a business.
ANS: F (this is the petty cash fund)
PTS: 1 DIF: Moderate TOP: Cash (Petty cash fund)
19. Cash is usually the first non-current asset listed on the balance sheet as it is the most liquid.
ANS: F (first current asset)
PTS: 1 DIF: Moderate TOP: Cash (Reporting the cash balance on the balance sheet)
20. The total amount of accounts receivable less the expected amount of uncollectible accounts is called the net realisable
value.
ANS: T PTS: 1 DIF: Moderate TOP: Accounts receivable (Accounts receivable
balance)
21. Credit terms of 2/10, net/30 means a 20% discount if paid in 30 days.
ANS: F( 2% discount if paid in 10 days, or full amount due in 30 days)
PTS: 1 DIF: Moderate TOP: Accounts receivable (Simple controls over accounts receivable)
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22. Accounts receivable can provide a greater increase in profit if credit sales are monitored properly.
ANS: T PTS: 1 DIF: Moderate TOP: Accounts receivable (Simple controls over
accounts receivable)
23. One advantage of credit sales is that having accounts receivable does not require significant management effort.
ANS: F (disadvantage of credit sales is that it does require management effort to do a credit investigation, invoice and follow
up payment)
PTS: 1 DIF: Moderate TOP: Accounts receivable (The decision to extend credit)
24. Cost of goods sold is the merchandise a retail business holds for resale.
ANS: F (Inventory is the merchandise held for resale)
PTS: 1 DIF: Moderate TOP: Inventory
25. The cost of goods sold would appear on the income statement while the cost of the ending inventory would appear on
the balance sheet.
ANS: T PTS: 1 DIF: Moderate TOP: Inventory (Simple inventory controls)
26. The first in first out (FIFO) method of inventory calculation allocates costs to cost of goods sold by assigning each unit
sold the cost to the business of purchasing that particular unit.
ANS: F (specific identification)
PTS: 1 DIF: Moderate TOP: Inventory (Determining the cost of ending inventory)
27. Adopting first in first out (FIFO) or specific identification method of inventory calculation will not impact cost of goods
sold and ending inventory balances.
ANS: F (the method of inventory valuation chosen can alter the value assigned to cost of goods sold and ending inventory)
PTS: 1 DIF: Difficult TOP: Inventory (Determining the cost of ending inventory)
28. The amount of accounts payable that a business owes is listed as a current asset on the balance sheet.
ANS: F (current liability)
PTS: 1 DIF: Easy TOP: Accounts payable
29. To facilitate transactions efficiently all employees should be able to execute a purchase order.
ANS: F (number of employees able to execute a purchase order should be limited)
PTS: 1 DIF: Easy TOP: Accounts payable (Simple controls over accounts payable)
30. Working capital management is only important when a business has a relatively large amount of capital.
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ANS: F (important when a new business has a relatively small amount of capital)
PTS: 1 DIF: Moderate TOP: Working capital: business issues and values
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BUSS1030
Week 7
TUTOR: Sunny
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HD EDU
Tutor照⽚
- 悉尼大学本科毕业，目前在一家悉尼当地公司做Trust Accountant。
- 专业Professional Accounting & Finance。
- BUSS1030两年任教经验，BUSS1030成绩97，Accounting学科
均分HD，同时任教ACCT2011，成绩HD
- 兴业证券投行部实习；澳洲本地券商实习
- 2年+教学经验，累计授课时长150h+，累计辅导
学生200+
- 善于总结知识点，给出有针对性的练习以巩固，
了解考试形式，有丰富的会计辅导经验，累计带
过60h+的1V1课程
转介绍活动重磅推出
1.转发该页PPT给你的好朋友
你将解锁课堂隐藏福利 （详情咨询小助手）
2.看到该页PPT的好朋友
将得到报课折扣及优惠
截图此页PPT给到小助手报名即可参与活动
HD EDU
知识点目录 对应 textbook chapter6
7.2 What is working capital and why is its management important?
1. Working capital 营运资金
2. Important working capital items
3. Internal control structure 内部控制结构
4. The 3 main accounting issues for a business’ failure
7.3 Cash
1. Cash includes？
2. Simple cash controls
7.4 Bank Reconciliation 银行余额调节表/银行对账单
1. 定义
2. Causes of differences in the cash balance
3. Format and preparation of a bank reconciliation
7.5 Internal control over accounts receivable and accounts payable
1. Accounts Receivable 应收账款
2. Accounts Payable 应付账款
3. Inventory 存货
HD EDU
Module 7 Internal Control：Managing and reporting working capital
7.2 What is working capital and why is its management important?
1. Working capital 营运资金
• A business’s working capital is the excess of its current assets (流动资产) over its current liabilities
(流动负债).
→ working capital = current assets − current liability
→ working capital should be enough to cover day to day operating activities
2. Important working capital items include:
• Cash—most liquid (最具流动性的)
• Accounts receivable
• Inventory
• Accounts payable
• Decision managers: working capital management/operating capital management/short-term
financial management
Too little working capital
▪ Risk not having enough liquidity 没有足够的流动性
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Too much working capital
▪ Risk not putting resources to their best use 资源没有得到充分利用
• businesses manage working capital to keep an appropriate balance between
(1) having enough working capital to operate and to handle unexpected needs for cash, inventory or
short-term credit; and
(2) having so much excess cash, inventory or available credit that profitability is reduced.
3. Internal control structure 内部控制结构
→Set of policies and procedures that directs how employees should perform a business’s activities
4. The 3 main accounting issues for a business’ failure are:
1) A lack of management systems, such as financial controls
2) A lack of financial planning and review
3) An inadequate level of financial resources
7.3 Cash
What is cash and what are some simple controls over cash receipts and cash payments?
1. Cash includes:
• Money on hand
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• Deposits in bank accounts 银行账户存款
• Cheque and credit card invoices that a business has received from its customers but not yet
deposited 企业从客户处收到但尚未存入的支票和信用卡发票
2. Simple cash controls
1) Controls over cash receipts
A business uses internal control procedures for cash receipts to ensure that it properly records the
amounts of all cash receipts in the accounting system, and to protect these from being lost or stolen.
Cash receipts 包括 cash sales 和 collections of accounts receivable
• For cash sales there are three main control procedures:
1) proper use of a cash register 正确使用收银机
2) Confirming the identity of customers paying by cheque (accepted and used rarely these
days)
3) matching the total of the amounts collected (cash plus credit card sales) against the total of
the cash register tape/POS (point of sales) system at the end of each employee’s shift and
report any difference between the two totals to a supervisor.
将收集的金额总额（现金加信用卡销售）与每个员工轮班结束时的收银机磁带/POS 机系统的
总金额相匹配，并将两个总金额之间的任何差额报告给主管。
• Cash procedures to safeguard cash from accounts receivable (课本 Exhibit 6.3)
Separation of duties 职责分离
The person collecting the cash should not be the same person that is recording or depositing
the cash. (收现金的人不应是记录或存入现金的同一个人)
→ prevents an employee from stealing undeposited amounts of cash and covering up the
theft by making a fictitious entry in the accounting records. 防止雇员偷窃未存入的现金数
额，并通过在会计记录中做虚假记录来掩盖偷窃行为。
List details 记录交易细节
Details of cash received, when it was received and from who.
Review of documentation may help the business discover that its employee is stealing
money.
Endorsement 签注
Employees should ensure each incoming amount is registered at the cash register.
• Additional procedure to safeguard cash receipts
a. Keeping a substantial amount of cash at the business overnight is taking an unnecessary risk
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of theft. By depositing all cash receipts on a daily basis, the business does not leave cash
unattended overnight. 将大量现金存放过夜会冒不必要的盗窃风险
b. The bank’s deposit records show the business’s cash receipts for each day. When the business
receives its monthly bank statement, it can check the daily bank deposits listed in the bank
statement against its ‘Cash’ account to determine that it deposited all its recorded cash
receipts in the bank and that it properly recorded all bank deposits in its ‘Cash’ account.
每个月可以将银行存款记录和公司的“现金”账户进行对账
2) controls over cash payment
a. basic rule: all payments authorized 所有付款都要授权
b. the business should pay only for approved purchases that are supported by proper documents.
企业只应支付由文件支持的且已批准的购买
c. immediately after payment, the owner should stamp ‘Paid’ on the supporting documents, along
with the date paid and the receipt number. →防止多次付款
例题演练Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1. Which of the following is NOT one of the reasons cash is the asset most likely to be stolen from a business?
a. It has no recorded identification marks.
b. It is difficult to prove that it has been stolen.
c. It is difficult to prove who stole it.
d. It is the most valuable asset for a business.
2. Which of the following is a good internal control for cash payments?
a. Payments to suppliers should be made as quickly as possible.
b. An experienced accountant should have total responsibility for all cash payment
functions.
c. Payments should be authorised before they are made.
d. Supporting documentation should be destroyed immediately after payment to avoid
incorrectly paying twice.
7.4 Bank Reconciliation 银行余额调节表/银行对账单
1. 定义：Schedule used to analyse the difference between the ending cash balance in a business’s
accounting records and the ending cash balance reported by the bank on the business’s bank
statement.
用于分析企业会计记录中的期末现金余额与银行在业务银行对账单上报告的期末现金余额之间的差额
的附表
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2. Causes of differences in the cash balance may include: 【课本 P234 Exhibit 6.4】
1) Deposits in transit 在途存款 (企业已经入账，但银行尚未记入)
定义：A cash receipt that a business has added to its cash account, but that the bank has
not added to the cash balance reported on the bank statement because the amount has not yet
"cleared" the bank.
Deposits recorded in business cash account > deposits reported on the bank statement
2) Outstanding or pending payments 未付或待付款项 (企业已付款，但银行尚未办理扣款)
The business has paid and deducted from its cash account but that the bank has not
deducted from the cash balance reported on the bank statement because the payment has
not yet ‘cleared’ the system.
Cash payments recorded in business account > honoured payments itemized on the bank statement
(银行对账单上的付款记录)
3) Direct deposits
Many bank accounts earn interest on the balance in the account.
把钱存在银行账户中会赚取利息，这些利息是银行直接记录到银行账单的，公司账单上通常没
有这笔利息的记录。
Deposits recorded in business cash account < deposits reported on the bank statement
4) Direct charges
▪ A bank frequently imposes a service charge for managing a depositor’s account and
deducts this charge directly from the bank account.
▪ NSF (not sufficient fund). 资金不足
A customer’s cheque that has ‘bounced’ (the business’s bank is unable to collect
because the customer’s bank account has insufficient funds to cover the cheque)
→ When this happens the customer still owes you the money.
5) Errors 人为失误
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
Which of the following would NOT be a reason for the difference between the bank balance in a business’
accounting records and the balance per the bank statement?
a. deposits in transit.
b. outstanding cheques.
c. charges made directly by the bank.
d. the bank balance at the end of the previous period.
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3. Format and preparation of a bank reconciliation
例题讲解：题目来源 tutorial 例题改编
You have been asked to help the Rancher Company prepare its bank reconciliation. You examine the
business’s accounting records and its bank statement at 31 May, and find the following information:
i. The ‘Cash’ account has a balance of $7753.24.
ii. The bank statement shows a bank balance of $3783.04.
iii. The 31 May cash receipts of $4926.18 were deposited in the bank at the end of that day, but were
not recorded by the bank until 1 June.
iv. Cheques issued and mailed in May but not included among the cheques listed as paid on the bank
(不包括在银行已缴付的支票中) statement were:
v. A bank service charge of $27 for May was deducted on the bank statement.
vi. A cheque received from a customer for $241 in payment of her account and deposited by the
Rancher Company was returned marked ‘NSF’ with the bank statement.
vii. Interest of $25.18 earned on the business’s bank account was added on the bank statement.
viii. The Rancher Company discovered that cheque no. 941, which was correctly written as $647.21
for the May electricity bill, was recorded as $627.41 in the business’s accounts.
Prepare a bank reconciliation on 31 May.
Rancher Company
Bank reconciliation
31 May
Cash balance from bank statement, 31 May: 3783.04
Add:
Deposit in transit 4926.18 4926.18
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Deduct:
Outstanding cheques:
No. 949 (518.65)
No. 957 (699.95) (1218.6)
Reconciled cash balance, 31 May 7490.62
Cash balance from business’s records, 31 May 7753.24
Add:
Interest earned on cheque account 25.18 25.18
Deduct:
Bank service charge (27)
NSF cheque (241)
Error: Cheque No. 941 written for $647.21 recorded as
$627.41 (少记了 647.21-627.41=19.8)
(19.8) (287.8)
Reconciled cash balance, 31 May 7490.62
解题注意事项
1. Bank Balance 对应银行账单; Book Balance 对应企业自己的账单
2. 银行对账单中，初始的 Book/Bank Balance 都使用 ending balance
3. 从上到下依次进行对账，出现 differences 的时候判断加/减在哪一方
4. 调节后的两个 final balance 应当是一样的数值
• Petty cash fund 零用备用金
Specified amount of money that is under the control of one employee and that is used for making.
Small cash payments for a business
• Reporting the cash balance on the balance sheet
7.5 Internal control over accounts receivable and accounts payable
1. Accounts Receivable 应收账款
定义: Amounts owed by customers to the business 客户欠企业的金额
1) Businesses make sales on credit for three basic reasons：
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i. selling on credit may be more convenient than selling for cash.
ii. offering credit will encourage customers to buy items they might not otherwise purchase.
iii. signal product quality. By allowing customers to pay after receiving, seeing and using the
goods, a business shows that it is confident about the level of its quality.
2) credit sales ≠ credit card sales
3) disadvantages of credit sales:
i. requires significant management effort 需要大量的管理投入→ Managers must make credit
investigations, prepare and send bills, and encourage payments from customers.
ii. There is always chance that purchaser will not pay (bad debts 坏账)
• Simple internal controls over accounts receivable
• Determining that a customer is likely to pay
o Credit application 信用申请
1.the name of the applicant’s employer and the applicant’s income;
2.the name of the applicant’s bank, her/his bank account numbers, and the balances
in his/her accounts;
3. a list of assets;
4. credit card account numbers and amounts owed;
5. a list of other debts.
• Monitoring the accounts receivable balances of its customers
‘2/10, net 30’→2% cash discount will be granted if they make payment within 10 days
if they do not make payment, then the full amount is due in 30 days
• Monitoring its total accounts receivable balance.
o If balance ↑, result from creditworthy customers? Or slowdown in cash collection?
▪ 显示在资产负债表中的应收帐款都是以 net realizable value（可变现净值）来计的
= Total owed by customers (the ‘gross’ amount) − an amount that it expects to be uncollectable.
#Aging analysis 账龄分析：the older a receivable is, the more likely it is to be uncollectable.
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1.Which of the following pieces of information would you not expect a potential credit customer to provide in a
credit application form?
a. the name of their spouse and their personal bank account details.
b. the name of their bank.
c. a list of assets.
d. a list of other debts.
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2. Accounts Payable 应付账款
定义: Amounts owed by suppliers for credit purchases 欠供应商的金额
▪ Simple controls over accounts payable
• Establishing control over who can obligate the business
A business should limit the number of employees who have the authority to make business
purchases.
• Establishing controls over payments
A business monitors the timeliness of its payments by having an employee keep track of the
credit terms of each account payable.
企业通过让员工跟踪每个应付账户的信用条款来监控其付款的及时性。
• Monitoring the total amount of accounts payable.
If balance ↑, result from increases in inventory? Or cash flow problems?
3. Inventory 存货
定义:Inventory is merchandise being held for resale.
▪ 为什么要 control inventory？
I. selling inventory is the primary way a retail or manufacturing business gets cash from operating
activities (and earns a profit).
II. business usually expects to turn over its inventory several times during the year. 企业通常希望高的
存货周转率
III. storing inventory is expensive, due to storage space, utilities and insurance costs.
IV. inventory can be stolen and/or become obsolete.
• Simple inventory controls
• Controlling the ordering and acceptance of inventory deliveries
A purchase order is a document authorising a supplier to ship the items listed on the
document at a specific price.
• Establishing physical controls over inventory while the inventory is being held for sale
• Periodically taking a physical count of its inventory to ensure accurate inventory records.
▪ Determining the cost of ending inventory 期末库存
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▪ Methods to account for inventory
（Chapter7 会再次提到；在 buss1030 这门课只作了解，具体会计方法在 ACCT1006 会学到）
1) Specific identification method
定义：Allocates costs to cost of goods sold and to ending inventory by assigning to each unit
sold and to each unit in ending inventory the cost to the business of purchasing that particular
unit
简单理解为 When each inventory item is unique/expensive
Eg. Motor vehicles, jewels
2) Weight average method
= total costs/total units
3) FIFO (First in, First out) 先进先出
4) LIFO (Last in, First out) 后进先出 x used in Australia
例题演练 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
Which of the following is NOT a method for calculating the dollar value for inventory?
a. First in first out (FIFO).
b. Weighted average.
c. Specific identification.
d. Cost of goods sold.
文字题 Textbook - Accounting: Information for business decisions 4th Edition, Cunningham, B. M. (2021)]
1.What simple controls should be established over accounts receivable?
ANS:
Before extending credit, a business should determine that a customer is likely to pay. This means that a credit
check should be done. The amount of credit extended should be based on the customer’s income, amounts of
other debt, etc. A business should monitor the accounts receivable balances of its customers. The business
must have an accounting system that allows the business to track each customer’s credit activity. It also needs
an organised collection effort. The business should monitor its total accounts receivable balance. The business
should investigate why its accounts receivable balance is increasing or decreasing.
2. Describe simple controls that might be established over accounts payable.
ANS:
A business should limit the number of employees who have authority to make business purchases. This might
entail establishing a purchases department. The business is concerned with making timely payments and with
getting credit for those payments. Credit terms should be monitored so that cash discounts may be taken. The
supplier’s monthly statements should be examined to make sure that proper credit has been given. The total
amount of accounts payable should be monitored because cash must be used in the immediate future to pay
these debts.
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3. What are the best ways to prevent both intentional and unintentional losses of cash?
ANS:
The business must hire competent and trustworthy personnel. It must also establish cash controls over cash
receipts and cash payments.
重难点总结
课后练习
TRUE/FALSE [Textbook - Accounting: Information for business decisions 4th Edition, Cunningham,
B. M. (2021)题库] Chapter 6 （对应 week 7）
Chapter 6 – Managing and Reporting Working Capital
1. Accounting issues are the basis for three of the top 10 reasons why small businesses fail.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
2. Working capital is the excess of total assets over total liabilities.
ANS: F (Working capital is the excess of current assets over total liabilities)
PTS: 1 DIF: Moderate TOP: Working capital
3. It is possible that a business could have negative working capital should current assets be less than current liabilities.
ANS: T PTS: 1 DIF: Difficult TOP: Working capital
4. Working capital is the excess of current assets over current liabilities.
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ANS: T PTS: 1 DIF: Easy TOP: Working capital
5. Working capital is a liquidity issue.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
6. Other terms for working capital management are operating capital management and short-term financial management.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
7. Other terms for working capital management are investment capital management and long-term financial management.
ANS: F (short-term financial management)
PTS: 1 DIF: Moderate TOP: Working capital
8. Working capital management is a balancing act between having enough liquidity versus having so much excess cash that
profitability is reduced.
ANS: T PTS: 1 DIF: Moderate TOP: Working capital
9. An appropriate amount of working capital is enough to finance the business’ long-term growth plus an extra amount in
case something happens.
ANS: F (finance the day-to-day operations)
PTS: 1 DIF: Moderate TOP: Working capital
10. A business’ cash includes cheque and credit card invoices, even if they have not yet been deposited.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
11. Basically cash is anything that a bank will accept as a deposit.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
12. The most likely asset to be stolen in a business is cash.
ANS: T PTS: 1 DIF: Moderate TOP: Cash
13. For cash sales, the most important cash procedure is the proper use of a cash register.
ANS: T PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls)
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14. A business should deposit all cash receipts into the bank once a week.
ANS: F (should deposit daily)
PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls, Controls over cash receipts)
15. A basic internal control over cash payments is to make sure payments are only made for approved purchases, supported
by proper documentation.
ANS: T PTS: 1 DIF: Moderate TOP: Cash (Simple cash controls, Controls over cash
receipts)
16. Bank reconciliations enable the business to report the correct cash balance on its income statement.
ANS: F (report cash balance on balance sheet)
PTS: 1 DIF: Moderate TOP: Cash (Bank reconciliations)
17. A deposit in transit is a cash deposit that has not yet been included in the Cash Account.
ANS: F (deposit in transit has been included in Cash Account, but has not yet been recorded by the bank)
PTS: 1 DIF: Moderate TOP: Cash (Bank reconciliations)
18. The Cash Account is the amount of money under the control of one employee used for making small cash payments for
a business.
ANS: F (this is the petty cash fund)
PTS: 1 DIF: Moderate TOP: Cash (Petty cash fund)
19. Cash is usually the first non-current asset listed on the balance sheet as it is the most liquid.
ANS: F (first current asset)
PTS: 1 DIF: Moderate TOP: Cash (Reporting the cash balance on the balance sheet)
20. The total amount of accounts receivable less the expected amount of uncollectible accounts is called the net realisable
value.
ANS: T PTS: 1 DIF: Moderate TOP: Accounts receivable (Accounts receivable
balance)
21. Credit terms of 2/10, net/30 means a 20% discount if paid in 30 days.
ANS: F( 2% discount if paid in 10 days, or full amount due in 30 days)
PTS: 1 DIF: Moderate TOP: Accounts receivable (Simple controls over accounts receivable)
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22. Accounts receivable can provide a greater increase in profit if credit sales are monitored properly.
ANS: T PTS: 1 DIF: Moderate TOP: Accounts receivable (Simple controls over
accounts receivable)
23. One advantage of credit sales is that having accounts receivable does not require significant management effort.
ANS: F (disadvantage of credit sales is that it does require management effort to do a credit investigation, invoice and follow
up payment)
PTS: 1 DIF: Moderate TOP: Accounts receivable (The decision to extend credit)
24. Cost of goods sold is the merchandise a retail business holds for resale.
ANS: F (Inventory is the merchandise held for resale)
PTS: 1 DIF: Moderate TOP: Inventory
25. The cost of goods sold would appear on the income statement while the cost of the ending inventory would appear on
the balance sheet.
ANS: T PTS: 1 DIF: Moderate TOP: Inventory (Simple inventory controls)
26. The first in first out (FIFO) method of inventory calculation allocates costs to cost of goods sold by assigning each unit
sold the cost to the business of purchasing that particular unit.
ANS: F (specific identification)
PTS: 1 DIF: Moderate TOP: Inventory (Determining the cost of ending inventory)
27. Adopting first in first out (FIFO) or specific identification method of inventory calculation will not impact cost of goods
sold and ending inventory balances.
ANS: F (the method of inventory valuation chosen can alter the value assigned to cost of goods sold and ending inventory)
PTS: 1 DIF: Difficult TOP: Inventory (Determining the cost of ending inventory)
28. The amount of accounts payable that a business owes is listed as a current asset on the balance sheet.
ANS: F (current liability)
PTS: 1 DIF: Easy TOP: Accounts payable
29. To facilitate transactions efficiently all employees should be able to execute a purchase order.
ANS: F (number of employees able to execute a purchase order should be limited)
PTS: 1 DIF: Easy TOP: Accounts payable (Simple controls over accounts payable)
30. Working capital management is only important when a business has a relatively large amount of capital.
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ANS: F (important when a new business has a relatively small amount of capital)
PTS: 1 DIF: Moderate TOP: Working capital: business issues and values
