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close this book Accounting for the microbusiness a teaching manual - A Handbook for Volunteers
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View the document Acknowledgement
View the document Introduction
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View the document The financial statements
View the document Additional controls
View the document Odd entries
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Additional controls

 

OBJECTIVES:

By example show how auxiliary systems must meet particular needs.

MATERIAL AIDS:

Aids 32, 33, 34.

PROCEDURE:

The following are three simple control systems. We urge all instructors to create similar ones to meet the auxiliary control problems of the Micro Industry,

1.

Inventory Control - For the owner who wants to:

a) Study individual product movement

b) Have a "Cost of Goods Sold" for each product

c) Check against robbery

d) Control the amount of inventories.

 

1.1 Aid 32. This simple entry and withdrawal system must be applied to raw materials, work in process, finished goods, or all three.

 

1.2 It is as good as the people who make the entries.

2.

Aid 33. Postdated Check Control System

 

2.1 This simple system is only applicable if the company has too many checks to remember.

 

2.2 It should indirectly create cash flow planning.

3.

Aid 34. Use an Auxiliary Cash on Hand Book for the company with a lot of cash transactions.

Make summary entries into the CASH Book at end of day.