Identify and describe the internal control weaknesses in this situation The manager of the Classy Cocktails Bar
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Identify and describe the internal control weaknesses in this situation
The manager of the Classy Cocktails Bar is responsible for purchasing bar stock, authorising bar purchase invoices for payment, banking daily cash takings and overseeing periodic counts of the bar inventory. The manager has a manual system for raising and recording invoices and receipts, and the manager is the only staff member who inputs the manual records into the bar’s accounting system.
Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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