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This course gives you the guidance you need to audit cash. Testing the bank reconciliation is the primary test of cash and through a comprehensive case study and interactive exercises, you will practice thoroughly testing each component of the reconciliation.
You will see the importance of spending the time to understand the accounting system and related controls in this area. You'll learn how to take the proper steps to work with the client to obtain all the records, schedules, and other information that you need to do your job.
Through a valuable series of tips, you'll be prepared to keep your eyes open for signs of possible problems, such as unusual or unexplained reconciling items on the bank statement, for items such as restricted cash balances that require disclosure and for the possibility that the client has written but not distributed certain checks as of the balance sheet date.
Prerequisite: 0-6 months experience
Advanced Preparation: None