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| Author : | Joseph P Helstrom, CPA |
| Course Length : | Pages: 14 ||| Word Count: 10,979 ||| Review Questions: 6 ||| Final Exam Questions: 8 |
| CPE Credits : | 1.5 |
| IRS Credits : | 0 |
| Price : | $13.45 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Management Services - Management Services for Course Id 936 |
| Description : | Small business enterprises sometimes take the position that effective internal controls cannot be achieved. There aren't enough employees for adequate segregation of duties. Many, if not most, have no internal audit function. However, even within the confines of these and other challenges, small businesses can achieve an effective internal control structure. To overcome an inability to segregate duties as well as other issues, small businesses must look for mitigating controls. The most pervasive mitigating control is the direct oversight of management. This oversight may take the form of financial statement review, approving disbursements, signing checks as well as other review processes. While there are other considerations as to whether the oversight of management may mitigate a lack of segregation of duties and other internal control challenges, if done correctly, this is one of the best ways to overcome these inherent issues. There are internal control fundamentals that are appropriate for small businesses. This course discusses fundamental operational and accounting controls and also reviews the optimal company culture for an effective internal control environment. |
| Usage Rank : | 17500 |
| Release : | 2024 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Internal Controls: Definition, Types, and Importance
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 12-Dec-2024 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 936 |
| Keywords : | Management Advisory Services, Effective, Internal, Controls, Small, Businesses, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives Upon completion of this course, you should be able to:
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| Course Contents : | Chapter 1 - Effective Internal Controls for Small Businesses Course Learning Objectives Course Introduction Fundamental Operational Controls Segregation of Duties Cash Disbursements Cash Receipts Accounts Receivable Accounts Payable Inventory Fundamental Accounting Controls Fundamental Internal Control Environment Case Study – Koss Corporation Other Factors to Consider Controls over Information Technology HR Procedures Risk Assessment Review Questions Glossary |
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