 | Chapter Objectives
(See related pages)
Learning Objectives are classified as conceptual, analytical, or procedural.
| Conceptual | - Define internal control and identify its purpose and principles.
- Define cash and cash equivalents and explain how to report them.
- Identify control features of banking activities.
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| Analytical | - Compute the days' sales uncollected ratio and use it to assess liquidity.
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| Procedural | - Apply internal control to cash receipts and disbursements.
- Explain and record petty cash fund transactions.
- Prepare a bank reconciliation.
- Appendix 6A—Describe the use of documentation and verification to control cash disbursements.
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