Control Support Of The Monetary Resources Management System

Abstract

Currently, the majority of business processes carried out by an economic organization, including the fulfillment of counterparty settlements, are linked to the movement of cash flows. As a result, the implementation of internal control, which contributes to information and advisory assistance as well as the optimization of the enterprise's financial and economic operations, has become particularly important. Internal cash flow control that is well-organized enables for the prevention of resource loss and the stabilization of accounting and analytical assistance for company activities. The goal of this article is to establish a system of methodological support for the enterprise's internal control of finances. The theoretical foundations for the implementation of control processes are investigated in this article. The fundamental concepts, objectives, and techniques of internal fund control are defined. It is proposed that the created formats of internal control working papers be used to build methodological tools. These documents allow for the systematization of control measures, the evaluation of the efficiency of accounting system organization, the generalization of cash and bank account transaction inspection results, their appropriateness and validity, and the recording of revealed violations by cash and bank account transaction inspection results. The company's management decides to enhance the efficiency of cash consumption by implementing a liquidity management system based on the results of internal control.

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Publication Date

31 March 2022

eBook ISBN

978-1-80296-124-9

Publisher

European Publisher

Volume

125

Print ISBN (optional)

-

Edition Number

1st Edition

Pages

1-1329

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Cite this article as:

Zakirova, A., Klychova, G., Doronina, S., Abasheva, O. V., Gulina, V., & Nigmatullina, N. (2022). Control Support Of The Monetary Resources Management System. In & I. Savchenko (Ed.), Freedom and Responsibility in Pivotal Times, vol 125. European Proceedings of Social and Behavioural Sciences (pp. 761-771). European Publisher. https://doi.org/10.15405/epsbs.2022.03.90