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Oversight of petty cash [3] is important because of the potential for abuse. Examples of petty cash controls include a limit on disbursements and monthly audits by someone other than the custodian. [4] Use of petty cash is sufficiently widespread that vouchers for use in reimbursement are available at any office supply store.
A petty cash imprest system is a method of managing small cash expenses in a business or organization. Under this system, a fixed amount of cash is set aside in a petty cash fund, which is used to pay for small and infrequent expenses like office supplies or postage.
Brewer and Knott. Through this case, the importance of vouching was realized. In this case, the auditors were found to be guilty on negligence, because the auditors did not display enough reasonable care and skill in vouching the wage sheets and ended up failing to detect fraud in manipulation of these wage records and cash vouchers.
After a short introductory paragraph, 'Petty's place in the history of economic theory' holds 5 chapters. The first chapter contains a short biography of Petty, and a general description of the economic writings, in which Hull makes a division in three (or four) groups, relating to distinct periods in Petty's life, and to books with "a common provocation and common characteristics": [5]
In Ancient Greece and the Roman Empire, copper coins were used for small transactions and were issued a monetary value greater than the value of the metal itself. [3] This established the principle of token money, which is the nature of coinage in contemporary society. [3]
Double-spending is the unauthorized production and spending of money, either digital or conventional. It represents a monetary design problem: a good money is verifiably scarce, and where a unit of value can be spent more than once, the monetary property of scarcity is challenged.
a merger or acquisition – the company is sold for either cash or shares in another company; a recapitalization – cash is distributed to the shareholders (in this case the financial sponsor) and its private-equity funds either from cash flow generated by the company or through raising debt or other securities to fund the distribution.
A capital call (also known as a draw down or a capital commitment) [1] is a legal right of an investment firm or an insurance firm to demand a portion of the money promised to it by an investor. [2]