The Healthy Alternative sells vitamins and natural health-care products. It has two electronic cash registers that track
Question:
The Healthy Alternative sells vitamins and natural health-care products. It has two electronic cash registers that track inventory and record sales directly to the computerized accounting system. The store owner is concerned because the actual cash on hand is usually short when it is compared to the sales records.
INSTRUCTIONS
1. You work for a local CPA firm that is auditing The Healthy Alternative’s accounting records. What advice would you give the owner about cash controls and protection?
2. Explain to the owner why it is important for the cash records to match the accounting records.
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1 The advice I will is to use a threeway test to analyze the stores retail sales ...View the full answer
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