Your assignment is a paper that details out the internal controls you would place in a business that is in the “Gas, Food, Convenience Stores” industry. Example would be like the McDonalds combined with Gas and convenience store down the street from the BCC campus by the exit/ entrance to the highway.

This scenario is: At the end of each shift the cash register is totaled out and a deposit has been placed in the safe on premises. Sometime in the next day a person responsible to pick up the deposit from the safe and deposit at the bank will do so. To ensure that everything is properly recorded and controlled you are to work with a individual within the company to design and implement a program that the store managers/ clerks enter what was counted/deposited in the bag that eventually makes it to the bank. The information that is entered will be assessable to various employees / management as backup to the books and records of the overall company that owns a total of 5 stores. Your job is to oversee and help design the way you feel the program should operate. Keeping in mind the internal controls you feel are needed with what you want them to do and placing a written plan of how you are keeping everything under control, making sure it will do what you expect, proper communication / instruction to all individual who will be implementing your controls.

Answer rating: 100% (QA)

Internal controls are the techniques used by a business to ensure integrity in financial and accounting reporting and minimize risks of loss of money from the business entity Convenience stores usuall... View the full answer