Internal Controls for Cash - Financial Accounting

The video tutorial discusses effective internal controls for cash management, emphasizing three key guidelines: separating cash handling from record keeping, promptly depositing cash receipts in the bank, and using checks or EFT for cash disbursements to maintain a paper trail. These practices help prevent theft and ensure accurate financial records.

What is the recommended method for making cash disbursements?

How does having a paper trail help in cash transactions?