THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
1,498 marked this research material reliable.
Call or whatsapp: +2347063298784 or email: info@allprojectmaterials.com
THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
CHAPTER ONE
1.1 Background to the Study
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organization. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c). The amounted requested for the replenishment of the imprest is documented in the petty cash dockets and their associated receipts or invoices. The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance; WEB EXPENSE (2016). The research therefore seek to investigate the effect of Imprest system on cash management.
Statement of the Problem
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organisation. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr - Expense a/c, Cr - Petty Cash a/c). The amounted requested for the replenishment of the imprest is documented in the petty cash dockets and their associated receipts or invoices. The documentation facilitates the records of the expenses to be checked against the float to know what is left as balance.
The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for. Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period. Therefore, many organization suffer hugh losses from the imprest system for sources considered insignificant in the accounting process of the organization.
Much of petty cash funds have being diverted for personal uses and unaccounted for thereby increasing organizational cost. The principal reason is that in may organization petty cash accounting is not included in the main accounting policy framework of the organization as a result when other accounting records are checked and scrutinized the petty cash records are not included in the scheme. Consequently, the neglect of management in overseeing the imprest system has constituted a major reason for the regular mismanagement and fraud in the imprest system of cash management. However with modern technology advocate for the application of the digital process to enhance a policy based implementation of the imprest system has been made. Therefore, the problem confronting the research is to determine the effect of the imprest system on cash management.
1.2 Objectives of the Study
- To find out the effect of imprest system on cash management.
- To determine how effective the imprest system is.
- To find out the challenges of the imprest system.
1.3 Research Questions
i. What is the effect of imprest system on cash management?
ii. How effective is the imprest system?
iii. What are the challenges of the imprest system?
1.4 Significance of the Study
The study proffers the need for an enlarge accounting policy framework which will cover the presentation of accurate accounting records and cash management for the imprest system. The imprest system of cash management has not being given greater consideration in the accounting process of cash management in many organizations due to the nature of the purpose for which the cash is provided for. Just as the name implies proper check and balances are not conducted before the expenses are replenished to continue with the next imprest period. Therefore many organization suffer hugh losses from the imprest system
THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT
Additional Information
- The Project Material is available for download.
- The Research material is delivered within 15-30 Minutes.
- The Material is complete from Preliminary Pages to References.
- Well Researched and Approved for supervision.
- Click the download button below to get the complete project material.
Frequently Asked Questions
In-order to give you the best service available online, we have compiled frequently asked questions (FAQ) from our clients so as to answer them and make your visit much more interesting.
We are proudly Nigerians, and we are well aware of fraudulent activities that has been ongoing in the internet. To make it well known to our customers, we are geniune and duely registered with the Corporate Affairs Commission of the republic of Nigeria. Remember, Fraudulent sites can NEVER post bank accounts or contact address which contains personal information. Free chapter One is always given on the site to prove to you that we have the material. If you are unable to view the free chapter 1 send an email to
info@researchcub.info with the subject head "FREE CHAPTER 1' plus the topic. You will get a free chapter 1 within an hour. You can also
check out what our happy clients have to say.
Students are always advised to use our materials as guide. However, if you have a different case study, you may need to consult one of our professional writers to help you with that. Depending on similarity of the organization/industry you may modify if you wish.
We have professional writers in various disciplines. If you have a fresh topic, just click
Hire a Writer or click here to fill the form and one of our writers will contact you shortly.
Yes it is a complete research project. We ensure that our client receives complete project materials which includes chapters 1-5, full references, questionnaires/secondary data, etc.
Depending on how fast your request is acknowledged by us, you will get the complete project material withing 15-30 minutes. However, on a very good day you can still get it within 5 minutes!
What Clients Say
Our Researchers are happy, see what they are saying. Share your own experience with the world.
Be polite and honest, as we seek to expand our business and reach more people. Thank you.
Patrick
Student
All Project Materials is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again welldone.
Keneth
Student
Thank you for everything you have done so far; my communication with you, both by e-mail and whatsapp, has been the only positive point about the whole experience - you have been reliable and courteous in my research work and I sincerely appreciate that.
Mike Olan
Student
You are well rated. Thank you for your being prompt and activeness.
Adedayo
Student
I have been using you people for some time and I can say that you are good because you give me what I want, you don't disappoint. You guys to keep to the standard. You are highly recommended to serve more Researchers.
Ndubuisi
Student
I love all project materials / researchcub.
There are good and wonderful. Nice Work!
People also search for:
the effect of imprest system on cash management, effect, imprest, system project topics, researchcub.info, project topic, list of project topics, project topics and materials, research project topics, covid-19 project materials, all project topics, journals, books, Academic writer, accounting project topics.
A Research proposal for the effect of imprest system on cash management:
Reviews: A Review on the effect of imprest system on cash management, effect, imprest, system project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
Petty cash imprest system is an accounting system which provides for the replenishing of money spent for petty expenses in the organization. The imprest system provides that a specified amount of money be provided to meet petty expenses in the office at a specified period of time referred to as the float. The expenses so incurred are recorded in the petty cash record. At the end of the specified period an amount is issue to cover the expenses so incurred to bring the balance back to the original amount. The replenishment is credited to the primary cash account, usually a bank account.. accounting project topics
THE EFFECT OF IMPREST SYSTEM ON CASH MANAGEMENT