1. Topic
2. Filing
   1. Storing information in a logical/organised way
   2. Easily located when needed
   3. 2 types manual/electronic
   4. Key to efficient filing
      1. Planning
      2. Organising
      3. Adhere to system
      4. User friendly
3. Filing Own Use
   1. Clear - old unwanted documents
   2. Select type of storage unit needed
   3. Select a area convenient to access
   4. Confidential document - security required
   5. Documents required daily - store closer
   6. Check company procedure
   7. Categorise
      1. Alpha
         1. Customers
      2. Numeric
         1. Invoices
      3. Reference
      4. Subject
   8. Label files clearly
   9. Do not overfill files
   10. Paper/electronic - correlate
4. Filing for many
   1. Check convenience/access - many people as possible
   2. Get consensus-what is logical for most
   3. Sophisticated security systems - use experts to put correct electronic versions in place
   4. Ensure clear labelling
   5. Confidential information - allocated a responsible person to take charge
   6. Have a recording system - monitor in/out flow of documents
   7. Implement procedures to deal with outdated information
5. Maintenance
   1. File regularly - schedule time daily/weekly
   2. Incoming correspondence
      1. Priortise/act on it
      2. Destroy - not required
6. Filing Accounting
   1. Form of control
   2. Filing is important for reaching objectives/goals
   3. Ensure industry laws are obeyed
7. Internal Control
   1. Is a system of controls/procedures to ensure
      1. Business is managed in a well organised manner
      2. Policies/plans/procedures/laws and regulations are followed by staff
      3. The assets are safeguarded
      4. Resources are used economically/efficiently
      5. Reliable/accurate accounting records are kept
      6. Reports are done timeousl, incl budgets/cost/financial statements
      7. Fraud is prevented and detected
8. Accounting System
   1. Valuable tool - ensure adequate internal controls
   2. If applied correctly will ensure accuracy/completness
   3. Eg of accounting tools
      1. Bank/creditors reconciliations
      2. Control accounts
      3. Reconciliations debtors/creditors
      4. Stationery control
      5. The drawing of budgets
9. Internal Records for Accounting Records Primary Objectives
   1. Only valid transactions are recorded
   2. Sound Internal control processes-ensure only legitimate transactions are recorded
   3. Transactions are recorded accurately
   4. Adequate internal control processes will ensure:
      1. Accounts/transactions -assigned to correct subsidary/ledger/journals
      2. Source documents are filed appropriately
      3. Transactions-recorded at the correct value
   5. With proper accounting control
      1. Errors/irregularities -reduced
      2. Errors that occur-will be detected/corrected timeously
   6. Completeness of recording
      1. Record timeously
      2. Record in the correct ledgers/journals
      3. Record in the correct period
      4. Concept of matching/accrual applied throughout
      5. Assets,liabilities,income,expenses-duly recorded
      6. Transactions - classified correctly
   7. Added control measures. Appoint external auditors to
      1. Revise/audit financial records
      2. Ensure validity/accuracy/reliability
   8. Other non financial measures of internal control-implemented by management
      1. Segregation of duties-limit fraud
      2. Control of source documents
         1. Strict control on issuing of source documents-invoices,receipts
         2. On receipt - signatures
         3. Books pre numbered
         4. All documents must be accounted for
         5. Control-cheque books are of utmost importance