Accounting Issues Specific to Gaming Operations – Cont’d • Progressive Jackpots – In House vs. Externally Funded / Wide Area
• Players’ Club – Accounting for Free Play, Cash & Coupons
• Accounting for Complimentary Items
• Reliance on Controls & Computer Systems
19
Common Internal Control Weaknesses – A/P • Stale Policies and Procedures – Purchasing/Procurement, Payable Processing, Processing Payments, Maintaining Vendor Master Files. • Training and Staff Development • Improper Timing and Routing of Purchase Orders • Paying from Invoice Duplicates (copies) • Inadequate Segregation of Duties (ARC-Authorization, Recording, Custody) • Summarize Weaknesses – Test Controls? (Design & Operation of Internal Control)
20
BlueBird CPAs
10
Made with FlippingBook - Online catalogs