Despite the prominence of electronic paymment formats like credit and debit cards many businesses still handle large amounts of cash. This half day course provides cash handling staff with the knowledge and practical skills to reduce loss, remain compliant with legislation and work accurately and efficiently. Throughout the course we focus on real world examples which we ourselves encountered when internal auditing or managing businesses.
What is Cash or cash equivalents?
Cash is simple. The notes and coins in the till. Cash equivalents are often overlooked by staff. For example gift vouchers sold by retailers are a cash equivalent.
This section of our course assists attendee’s in identifying cash equivalents and ensures they understand the importance of treating them like cash. We use practical examples many of which we have uncovered throughout the course of our careers.
Security when handling cash
– Identify the Risk: for example dispute, or robbery. This risk goes further than simple loss of cash. Poor security procedures also place employees at risk.
– Assessing the Risk: From a practical point of view there will always be cash on the premises but how likely is there to be an issue. We use a standard assessment checklist at this point to allow attendee’s to audit their own place of work and improve processes.
– Controlling the Risk: – What measures can we put in place to reduce the risk without affecting our customers or taking up too much staff time.
Loss Prevention and Awareness
How are cash or equivalents lost? There are many ways from poor internal controls, lack of understanding of information technology to pilfering. This section of the course also focuses on fraud prevention.
Segregation of duties
Segregation of duties is a key concept in internal controls and can assist in reducing errors and fraud. In this section we discuss how to build segregation of duties into a procedure and the benefits of doing so.
Reconciliations
Reconciliation is the process of ensuring our books, records and IT systems match our physical cash and cash equivalents. We also look at the reasons for differences in our reconciliations as-well as resolving or explaining a difference.
Credit Card Fraud
With customers using credit cards more often for their purchases, credit card fraud is on the rise. Educating front-line staff is key to preventing
credit card fraud. In this section we look at the security features of credit cards and go through some basic security tips. 
To book this course please email
ralph@financetraining.eu or call 01-4800531