Natalie is struggling to keep up with the recording of her accounting transactions. She is spending a lot of time marketing and selling mixers and giving her cookie classes. Her friend John is an accounting student who runs his own accounting service. He has asked Natalie if she would like to have him do her accounting.
John and Natalie meet and discuss her business. John suggests that he do the tasks listed below for Natalie.
For Part I of the assignment, identify the weaknesses in internal control that you see in the system that John is recommending. Can you suggest any improvements if Natalie hires John to do the accounting?
Part I should be a minimum of two pages in length. Please use APA format. While there are no required resources, please be sure that any sources used have proper citations.
Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2020 using the information below.
Additionally, take the following information into account.
For Part II of the assignment, complete the tasks below.
Part II can be completed in either Word or Excel. If you are completing Part II using Word, submit Parts I and II in one Word document. If you are completing Part II using Excel, upload Part I as a Word document and Part II as an Excel spreadsheet in Blackboard.
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