Write two paragraphs and no plagiarism and no title page
1. In this area, we will talk about the importance of internal control in a business organization and the reporting of cash on the balance sheet as well as managing receivables and estimating uncollectible accounts. What is internal control, and what are the objectives of a well-designed internal control structure in an organization?
2. Companies have a significant amount of investment in long-lived assets, which include property, plant, and equipment (commonly referred to as plant assets); and intangible assets. We will also discuss different types of liabilities and understand how to account for and report those liabilities.
Let’s begin by talking about plant assets. Can you tell us what kind of plant assets are used in your company or place of business? Do you have an estimate of the amount invested in those plant assets?
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