Unless they’re documented, there is no way to track the movement of money. In general, the principal incompatible duties to be segregated are authorization, custody of assets, and recording or reporting of transactions. In addition, a control over the processing of a transaction generally should not be performed by the same individual …
There should be some constants, such as overhead costs or variable expenses andbreak-even point,to help with the planning process. This formula makes it easy to create several different projections to work with. The total will show the number of sales you’ll need to make in order to reach your target profit goal. This strategy ignores …
Documentation requirements are quite specific, and generally require a best method analysis and detailed support for the pricing and methodology used for testing such pricing. To qualify, the documentation must reasonably support the prices used in computing tax. U.S. rules require that the IRS may not adjust prices found to be within the …
However, with proper planning and good communication, the effect of any disadvantages can be greatly minimized. The plan documents must specify the plan year, and the plan year may be changed only for a valid business purpose, such as to align with the health care provider’s benefit year. This type of customized menu provides employees …
If you can’t separate duties between two people, use an outsourced service to do the bank reconciliation and check the audit trail report. Just the threat that someone is looking over your ‘trusted’ employee is enough to help deter theft. No system of internal controls will prevent all theft, but without proper separation of …
The terms and conditions of lease agreements can be complicated and difficult to understand. Educating yourself about the intricacies of car leases will avoid unhappy surprises later.
So if you like your car and it’s in good condition, it may make sense to purchase it when the lease ends. “You should very carefully consider …