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Four Ways of Safeguarding

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When you start your business you also start to gather assets. You have money in the bank, stock of goods for sale, an office computer, chairs and other things you have bought.

If you are alone in the company it is fairly easy to safeguard your assets. When getting staff, customers and others entering your company your assets can wrongfully disappear.

The accounting system together with four different internal control procedures help you safeguard your assets:

  1. Delegated authority and separation of duties
  2. Reconciliation (check written records with reality)
  3. Cash control
  4. Physical control

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Four Ways of Safeguarding

   


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Copyright © 2009 Dynamic Business Plan          07-02-2012


Cash Control
Delegated Authority
Four Ways of Safeguarding
Physical Control
Reconciliation

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