Today I will summarize the most relevant aspects of the entities between the investment of funds and financial obligations, and how they must have in the administrative accounting management of their assets internal control processes that ensure the speed and reliability of the same.
It is for this reason that current assets are characterized by an investment of funds, which includes all items of property that have a monetary value where the entity uses to meet financial obligations, therefore, requires establishing efficient accounting controls.
From this point of view, internal control plays an indispensable role for the management of assets as current assets, because, in the term of conventional accounting, the verification and intervention of control is needed in order to preserve the existence of the asset.
For the purposes of the present post the current as a monetary resource useful to the entity in function of dynamizing its financial operations during the commercial activity to which it is dedicated.
For these reasons, the purpose of these lines is to encourage the analysis on the internal control measures of the current assets, taking into consideration relevant aspects such as the type of accounting measure required to set an internal control position, in addition, it is essential to know the methodology applied to the bank reconciliations with effect to the cash count occurred in each year-end closing or performance at the disposal of the corresponding entity.