Wednesday, May 25, 2005
I have downed...
2 crown lager 6-packs
1 cascade premium 6-pack
3 glasses of wine
and now onto my kalua 4-pack
since 24th january
Revenue is the inflow or other enhancements or savings in outflows of Future Economic Benefits in the form of increase in assets or decrease in liabilities of the entity; other than those realting to contributions by owners that result in an in crease in equity during the reporting period.
Expense is consumption or loss of future economic benefits in the form of decrease in assets or increase in liabilities of the entity; other than those relating to distributions to the owners that result in a decrease in equity during the reporting period.
Internal Control Over Cash
1. Handling of cash and recording of cash should be done separately to avoid having false entries and stealing of cash by an employee.
2. Cash register should be cleared of excess cash at regular intervals to reduce amount of money that could be stolen in a robbery.
3. Cash receipts should be banked daily to ensure as little cash as possible left on the business premises. Money should be deposited into the bank as it would be more secure.
4. All payments should be approved by a senior employee and made by cheque. All payments above the pre-set limit should be require signature of 2 employees on cheque. This is to ensure all payments are properly authorized!
li-er: i'll save the yum-seng for my buddies back in SG =P
pat: jia you jia you!
milktea: i heard that the milkshakes over here quite nice. haven tried yet thou. only had the mac's strawberry 1. not too bad.