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CASHBadillo. Hernaez. Laron. Puyat.
Tubongbanua.
WHAT IS CASH?Unrestricted in
useMust be readily available for the payment of current obligations and not be subject to any restrictions, contractual or otherwise
Kinds of
Cash
A system of money in common use, especially in a nation
A piece of paper money which amount is expended or owedBILLS
CURRENCY
It is an order for the payment of an amount of money, usually issued and payable at a bank or post
office
Metal money that is used primarily as a medium of exchange or legal tender COINS
POSTALMONEYORDER
BILLS
COINS
CURRENCY
POSTAL MONEY ORDER
SPECIAL ITEMS
DEPOSIT
FOREIGN CURRENCY (FOREX)
A kind of bank account that allows money to be deposited and withdrawn
by the account holder
The currency of another country
POST DATED CHECKS
STALE CHECKS
OUTSTANDING CHECKS
It refers to checks which have been written by the drawer for a date in the future
A document that is a promise to pay money that is held for too long before
being presented for payment
Checks which have been written, but have not yet cleared by the bank on which they
were drawn
Cash Equivalents
WHAT IS A CASH EQUIVALENT?
Short-term and highly liquid investments that are acquired three months before maturity can qualify as a cash equivalent
Money instruments that can be readily used as a payment to an obligation
Internal Control
Segregation of Duties
Deposit Cash Collections in Bank
Voucher System
Issue O.R.
Bank Reconciliation
Petty Cash Fund
WHAT IS A PETTY CASH FUND?
It is money set aside to pay small expenses which cannot be paid conveniently by means of check.
Methods of Handling Petty Cash Fund
Imprest Fund System
Fluctuating Fund System
Checks drawn to replenish the fund do not necessarily equal the petty cash disbursement, resulting to the increase and decrease of the
petty cash fund.
Checks drawn to replenish the fund do not necessarily equal the petty cash disbursement, resulting to the increase and decrease of the
petty cash fund.
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