Saturday, July 4, 2015

A Simple Way to Get Accounting Assignments Done!

Accounting is one of the very difficult and tough subjects in academic curriculum of a student. Students generally need a lot of concentration and analyzing and calculating abilities to solve assignments in accounting. Sometimes students didn’t get anything and they lose hope and concentrating on this subject. But this is not a solution to the problem either it makes your problem big. Expertsmind offers online assignment help to students which is updated from of home tutoring. They provide easy solutions to students as well as them in getting a better insight of the subject which makes them clear with the concepts of the subject. They can take financial accounting assignment help to solve their accounting problems in a unique and creative manner.
Petty cash fund
A department's petty cash fund is normally used to repay acceptable low-value expenses for items which are generally not purchased through conventional UCSD procurement procedures.
Change fund
It refers to the fund that is used to give change for cashiers and customers who pay by high-denomination bills. Each department establishes a custodian for the fund. Custodian is a person who is directly responsible for controlling and disbursing the cash.
How to Establishing a petty cash or change fund
• Complete the available application (Word file).
• Now mail this application to all the three General Accounting, Mail Code 0953, attention Petty Cash/Change Fund.
• Then General Accounting will inform you of the result of your application. If your request is approved, disbursement will issue and check will be mailed to the fund's custodian.
Internal controls
Once the petty cash fund is established, departments must follow these internal controls:
• Cash count and confirmation of funds must be done periodically, at least quarterly, by some other person than the custodian. 
• Previous to June 30 of each year, General Accounting will mail a Certification of Possession form to each custodian for confirmation of university's funds.
• For annual closing, each June 30, all remaining petty-cash reimbursements must be given to Disbursements.

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