Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XV. Accounts

Collection:: Economics Books

ACCOUNTS 169 The secretary may be responsible in some cases for the conduct of foreign branches of his company, or of agencies. No section of the accounts of a company is more difficult to control than this; personal inspection can only be main- tained at comparatively long intervals and at an expense which is apt to become onerous. In very large businesses a travelling audit is conducted from the head office, and in some cases the book-keepers of the various foreign branches interchange visits at uncertain intervals determined by the head office. In such cases as these the secretary at the head office may arrange for a series of reports which will assure him of the well-being of the branches. But short of this it will be his duty, in conjunction with the accountant, to ensure the good and proper conduct of the branches so far as is possible under distant control. The most difficult part of this problem will obviously concern the cash at the branches, and this can be most effectively controlled by the following system, which has been successfully used by a number of companies having foreign branches. Each foreign branch has two accounts opened at a local bank, into one of which all collections are paid without any deduction. A certain amount of control of these collections is maintained by the head office, owing to the fact that the latter is aware of the debts owing each month by customers in connection with each branch. From this first or No. 1 account (over which no official at the branch has any power other than that of lodging amounts collected) there is transferred automatically by the banker at the end of each month to a second or No. 2 account a fixed monthly sum, calculated by experience to be sufficient to meet the ex- penses of the branch for the ensuing month. The manager of the local branch has power to draw upon this second account only. By this means, although the possibility of fraud or defalcation is obviously not avoided, yet the time during which defalcations might remain undiscovered is limited, and the amount endangered is also limited. At the same time the personnel at the local branch are aware that by the means described there is a constant, but not in any way humiliating, check sustained by the head office. The remaining balance in the first account can either be drawn upon by the directors as need arises, or instructions can be given to the foreign or branch bankers to transfer either fixed amounts at irregular intervals, or irregular amounts at {ir d intervals to the company’s main banking account. Similar procedure may be adopted in those cases where Foreign Branches.

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