Examlex
How does sharing information help a firm be more value driven?
Cash Account
An account where all transactions are made in cash, including receipts and payments.
Bank Reconciliation
Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement, to ensure accuracy.
Internal Control
Strategies and methods adopted by a business to maintain the accuracy of its financial and accounting records, encourage responsibility, and deter dishonest practices.
Detection of Errors
The process of identifying and correcting mistakes in financial records or transactions.
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