Internal Controls: Accounts Receivable and Cash Receipts – Online| Self-Study

About this course

Learning objectives

This dynamic course has a detailed curriculum consisting of 7 lessons:

Lesson 1 — Internal Control Review

• Recall the definition internal control.
• Recognize the three categories of objectives and the five interrelated components of an effective internal control system.
• Recall how objectives and components work together to create an effective internal control system.

Lesson 2 — Importance of Internal Control

• Recall why internal controls are valuable to an organization.
• Recognize internal control within GAGAS and the Single Audit Act.
• Recall how internal controls are a deterrent to fraud.

Lesson 3 — Effective Internal Controls Over Cash Receipts

• Recall the definition of cash and cash receipts.
• Identify internal control objectives for cash and cash receipts.
• Recognize how fraud occurs in the cash receipting function.

Lesson 4 — Effective Internal Controls Over Accounts Receivable

• Identify internal control objectives for accounts receivable.
• Recognize how fraud occurs in the receivable function

Lesson 5 — Segregation of Duties

• Recall the definition of segregation of duties.
• Identify duties that should be segregated for cash receipts/accounts receivable areas.
• Recall how to complete a segregation of duties evaluator for a sample government.

Lesson 6 — Internal Controls Deficiencies

• Recall internal control testing performed by external auditors.
• Recognize the components for reporting internal control deficiencies.
• Recognize the different types of internal control deficiencies.

Lesson 7 —Case Study in Developing Internal Controls for Cash Receipts/Accounts Receivable

• Identify the internal controls missing by applying the knowledge acquired in this course.
• Recognize what duties should be properly segregated.

Who should attend?

• Governmental employees who require knowledge of the government’s internal controls relating to the accounts receivable and cash receipts processes.
• Governmental employees who seek to meet the requirements of the Local Government Finance Officer Certification Program offered through the University of Georgia’s Carl Vinson Institute of Government.
• Professionals with private sector experience who want to gain knowledge of the internal control’s necessary for accounts receivable and cash receipts.
• Accounting professionals seeking continuing professional education credits.

Continuing Education Information

The University of Georgia will award 0.54 Continuing Education Units (CEU) or 6.5 CPEs upon successful completion of this course.

A University of Georgia CEU (Opens in a new window) transcript is available at any time upon written request.

A Certificate of Program Completion from the University of Georgia is awarded to all enrollees who complete the four-course series in a 12-month period.

Note: Carl Vinson Institute of Government University of Georgia National Registry Sponsor Number: 140808

In accordance with the standards of the National Registry of CPE sponsors, CPE credits granted are based on a 50-minute hour.

Field of Study: Auditing (Governmental)
Delivery Method: QAS Self Study
Advance Preparation: None
Program Level: Basic
Prerequisites: None