Internal Controls xxxxxx Accounting 280 April 8, 2012 xxxxxxxx Internal controls ensure that all public companies follow a standard set of rules to operate and report finances in business. It is required by law to monitor the different models of internal controls. According to Renee O'Farrell (2012), "'internal controls' can be defined as actions and procedures by which a company monitors itself". The two primary goals of internal controls are to safeguard assets from theft and unauthorized
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Internal Control XACC/280 08/14/2011 In this world, companies and businesses need a way of monitoring themselves, particularly in the accounting department. This is an act of preventative maintenance, ensuring that the financial reporting is reliable. Any successful business has a strong internal control model, without it, operations won’t run efficiently. A type of feedback, internal controls look at the quality and functionality of different aspects of a business ( eHow Money, n.d.). Its
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| | |Axia College/School of Business | | |XACC/280 Version 2 | | |Financial Accounting Concepts and Principles | Copyright © 2010, 2009 by
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