Internal control system on management of cash in road transport service providers a case of gaaga bus company kampala Uganda
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Date
2011-08
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Publisher
Kampala International University, College of Economics and Management
Abstract
The research was concluded at Gaaga Bus Company Kampala branch in Kampala city located at Arua Park Wilson road, under the topic the impact of internal control systems on the management of cash in transport service providers. However, it is evident that there existed the problem of fraudulent transactions and frequent mismanagement and misappropriation of cash .since it is difficult for the company owners to know when bills came in and payments were received. The main objectives of the research were to determine the whether the company has strategies for management of cash, investigate the effects of internal control systems on the management of cash at Gaaga Bus Company, to determine the relationship between internal control systems and cash management and finally to find out problems faced in management of cash at Gaaga Bus Company. Censoring was the method used in selecting the research data that was needed. The total population under the study was 150 where 30 were booking clerks, 3 were parcels, 65 were cargo charging clerks, 50 conductors, and 2 accountants. However out of 150 respondents only 109 actively participated and helped to answer the questionnaires where reliable and relevant information was obtained. The age group, marital status, gender, educational background, and occupation of the respondents were also taken into consideration in order to come up with clear and classical information. Result of the study showed that Gaaga Bus Company has strategies such as computerized accounting systems, disciplinary, fraud control and prevention committee, proper recording f transactions, and committee for planning and organizing for training. It was also discovered that effects of internal control systems like better systems of accounting, safety of cash, increased returns, restricted access to cash, and reduced risk of theft and risk of loss were evident in the company. The study also revealed that the two variables of the study (internal control systems and management of cash) have positive relationship with high significant relation 0.01 and Pearson correlation 0.326.
Description
A research project submitted to the College of Economics and Management in partial fulfillment for the Award of Degree of Bachelor of Business Administration Kampala International University
Keywords
Internal control, Management of cash, Road transport service, Kampala Uganda