UJIKOM AKUNTANSI BAHASA INGGRIS

Assalamualaikum... Good morning SIR/MISS? How are you

With all respect to my teacher and all of my beloved friends who join this lesson.
Frist of all, let us thank to Allah SWT which gave us blessing and healthy, so we can gather on this lesson.

Let me introduce myself. My name’s .......... Iam from XII AKUNTANSI 1

In this opportunity, i would like to present .. Presentation of pety cash

Slide 1 ;PETTY CASH FUND MANAGEMENT

Slide 2; PETTY CASH FUND MANAGEMENT

I. Definition of Cash

•       Cash is the standard medium of exchange and the basis for measuring and accounting for all other items

•       It is generally classified as current assets

•       Cash consists  of  coin, currency, an available funds on deposit at bank and  other financial institutions.

•       Cash must be immediately available for the payment of current obligation and must be free from any contractual restriction. It is available for unrestricted withdrawal.

Slide 3;

II. Classification of Cash

A. Cash in Bank

•       It is included saving accounts,  R/C

B. Cash on Hand

•          It is available in the company for paying daily operational expenses.

•          Cash on hand is prepared  to  pay  for small payment called petty cash

Slide 4;

3. How is Petty Cash Transaction Controlled and Reported?

As control measures of petty cash fund, the procedures are widely used:

v  One person is usually given the responsibility of operating the petty cash fund

v  Each time an expenditure is made, a source document (called a petty cash voucher) is prepared for payment evidence. The voucher is signed by the person receiving the cash and by the person in charge of the fund (petty cashier). The petty cash voucher includes the amount and purpose of the expenditure.

v  A record (usually multi columned) is kept to record each expenditure from the petty cash fund

v  Each time the fund is almost depleted and also at the end of every accounting period, a check is prepared for the amount spent and cashed to replenish the petty cash fund.

Slide 5;

IV. The Methods of Petty Cash Fund

Ø  The Imprest System

Ø  The Fluctuating System

The Imprest System

A.            A simple method in obtaining reasonable control while adhering to the rule of disbursement by check

B.            The imprest system works as followed:

•          Someone is designed petty cash custodian and given a small amount of currency from which to make small payments. The transfer of funds to petty cash is recorded.

•          As disbursements are made the petty cash custodian obtains signed receipts from each individual to whom cash is paid. If possible, evidence of the disbursement should be attached to the petty cash receipt.

Slide 6

u Petty cash transaction is not recorded until the fund is reimbursed and then such entries are recorded by other person besides the petty cash custodian

u When the supply of cash runs low, the custodian presents a request to the general cashier for reimbursement supported by the petty cash receipts and other disbursement evidence. The custodian receives a company check to replenish the fund.

u If it is decided that the amount of cash in the petty cash funds is excessive, an adjustment may be made.

u Entries are made to the Petty Cash account only to increase or decrease the size of the fund

u  Any question?

Maybe that's enough from us/me.
We do hope that our information we have share would be very usefull to us all. We are really sorry for our mistakes. Thanks for your attention. See you next time and Wassalamualaikum wr.wb.