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Unit 1- Investment + Finance Cycle - Coggle Diagram
Unit 1- Investment + Finance Cycle
Cycle
Legal requirements (Companies Act)
Material; transactions
Few transactions
Authorisation
Statutory approval from the shareholders
Existence of Capex committee that will prepare and present all requests and proposals to the BOD
Top management and BOD should authorise any acquisitions/disposals
Different levels of authorisation in the organisation
General internal controls
Rotations of duties
Personnel take leave regularly
Segregation of duties
Management control
Supervison + review
Internal audit
By means of
Observations
Scrutinise records + documents
Enquiries + discussions
Test castings + calculations
Objectives
Valuation
Completeness
Rights + obligations
Presentation + disclosure
Existence
Summary
BOD
Minutes
Recquisition, quotes + source of finance
Proposal
Policy applied
Interests
Invoice