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ACCG101 Accounting and Governance Session 2, 2017 Individual Report (10%)
ACCG1001 - Accounting and Governance
3 Pages • Essays / Projects • Year: Pre-2021 • Previously uploaded under: ACCG101 - Accounting and Governance
Sarah Roberts runs a fruit stall at the local market and at the end of each day she banks the cash in the cash register. The cash register records each sale and can provide a total for each day but Sarah believes that often the staff are too busy and do not always enter the sales in the register but simply put the cash in the till. The total from the cash register is produced each month for the business’s accountant to prepare financial statements. Recently, Sarah employed a university student to work on weekends and she is concerned that soon after this the daily amount banked seems to have decreased even though Sarah feels that sales have not really changed. The student often mentions that he sometimes finds it difficult to pay for his costs of living. You are required to write report to Sarah outlining what controls Sarah could put in place to minimise the risk of losing cash in her business.
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