Chapter 19. Specialized Journals
In order to make the operation of the accounting department flow smoothly and efficiently, specialized journals are used. The purpose of the specialized journals is to allow for segregation of duties (so that different people in the department are assigned tasks that do not overlap), to keep details out of the general ledger, and to permit employees to work simultaneously.
Segregation of duties is a key ingredient in the internal control design of an accounting department. Think of a fastfood restaurant—if a bunch of employees are all using the same cash register, can the supervisor blame anyone in particular if the register comes out short? Probably not. That is why it is a good internal control to have one ...
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