INTERNAL CONTROL
You are the staff accountant working for Armeni, Inc, an IT consulting firm. You have been working with the company for 1 year and the owners have recently hired an intern that you must train. The first area that you should train the intern on is INTERNAL CONTROL, There are 2 activities that the owners are asking that you do to introduce the concept of internal control to the intern:
1. Prepare a cash reconciliation using the bank and book information provided in Excel (in Moodie).
- Make sure to not only prepare the reconciliation in the template but to also prepare the necessary adjusting entries for the BOOKS.
2. Prepare a 1-2 page memo describing the basic principles of internal control in your own words.
