Bumble Beasley Was Attempting to Improve Internal Controls Over His

question 58

Essay

Bumble Beasley was attempting to improve internal controls over his firm's sales/collection process.He completed the following tasks in the order listed, but made several errors.Revise each statement based on Steps for Better Thinking.
a.Read one general article about the importance of internal control.
b.Focus on the costs of physical and technical controls in the sales/collection process.
c.Make a list of three cost categories common to physical and technical controls in the sales/collection process.
d.Implement the two least expensive physical and two least expensive technical controls.
e.Write a report summarizing his work; store it in a three-ring binder on his office bookshelf.

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Definitions:

Environmental Performance Index

A method of quantifying and numerically marking the environmental performance of a country's policies.

International Energy Agency

A Paris-based autonomous intergovernmental organization that works to ensure reliable, affordable, and clean energy for its member countries and beyond.

Absolute Terms

Describes data or values that are expressed without comparisons or references to other data, often indicating the total amount.

Per Capita

A statistical measure that represents a certain data point or economic indicator divided by the population number, used to give an average per person.