Internal Control
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Accounting for Internal Control
MS: Kawalan Dalaman · EN: Internal Control · ZH: 内部控制
Meaning
Internal control is the system of procedures, policies and measures a business sets up to safeguard its assets, ensure the accuracy of accounting records, and prevent fraud and error. It includes separation of duties, authorisation of transactions and regular checking. It matters most for cash because cash is easily misused.
Example
At Sinar Maju Enterprise, the job of receiving cash and the job of recording cash are given to two different workers, so one person cannot steal RM500 without the other noticing.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 5