 In this discussion, we will discuss the discussion question of what are internal controls and their purpose. So internal controls is going to be a big topic as we grow our firm or as we grow our company. We typically need more internal controls, which are typically kind of a form of bureaucracy that we're kind of put in place. But one that has a goal, a system, there's a reason for the internals growing up and the goals are going to be what we will discuss here. It's that as we have a small system, if we have a limited amount of people, if we have a sole proprietor, for example, then we're going to have less internal controls. One because it's not feasible given the number of people we have to have some of these larger internal controls and because two of the cost-benefit analysis. We always need to be considering how much benefit are we getting in terms of these goals we'll discuss as compared to the added cost that will be involved when we make a system that is more complicated. And that's typically going to be the case. That's going to be a trade-off. We're going to make a system that will be more complicated with the objective of a safeguarding or achieving some principal goals in order to do so. So one of those goals will be, of course, to safeguard our assets. We want to make sure that our cash has safeguards to them and other type of assets are safeguarded. So we want to, in order to do that, in order to get to that objective, we're probably going to have to give up some convenience and that's what we're going to do. We're going to set up a system in order to achieve that goal. We want to have a reliable record-keeping. So once again, the record-keeping is something that a lot of small companies may overlook a lot and larger companies are typically needed to be more required to do. So as we get larger, we need to make sure that the record-keeping is better and better. Small companies need good record-keeping as well, but we obviously need the good record-keeping in order for us to be able to make good financial statements, make good decisions on those financial statements, be able to discuss with other people, possibly creditors, our typical financial situation. And if there's any problems, then, of course, we want to go back and be able to look at those records and see the audit trail for what has happened. So we want to make some internal control systems, which again takes time to have good record-keeping, but we want to have good record-keeping and do the cost-benefit analysis as to how much record-keeping, how detailed of that record-keeping needs to be in our system to achieve our objective. The internal controls should promote efficient operations and try to encourage employees, of course, to comply with policies. So we're going to put policies in place, and we want laws as well. Our internal controls should comply with legal regulations, and they should comply with our regulations within the system as well. So you can think of this in terms of financial controls to make sure that we're going through all the procedures. Oftentimes, if you're thinking through a system, there's often safety controls that we want to make sure that the operations are being gone through in terms of a control's procedures to get to the goals of those procedures, whatever those company policies are. We want to make sure the internal controls are trying to get people to comply and be in accordance with those kinds of systems. Internal controls can also help us to prevent any losses within the organization, try that we're obviously, our goals here is still revenue revenue, so we want to make sure that we are in a position to generate revenue, have sufficient cash flow to pay off our obligations. So once again, the controls could actually increase our expenses, decreasing net income, but the goal of them, one of the goals of them will be to safeguard assets and could be to actually limit, of course, any losses or any cash flow problems. Internal controls should also have a type of review system. So the review system, we want to be able to monitor the employees performance and see how the employees are doing. That's going to be a part or a component of our internal controls. Now as we go through what the actual control controls are going to be when we list out internal controls, we want to be specific in terms of what these goals and objectives are because we do want to put in a cost-benefit analysis and that can get a little bit tricky as we start to put in procedures such as separation of duties into a system or making a more complex type of voucher system for a payable system. We want to make sure that we're comparing the cost-benefit analysis, what we're going to gain from these internal controls in terms of security, possibly safeguarding the assets or having better paper trail than the cost that could be incurred within those objectives in order to do so. We need to know what these procedures are oriented towards doing. And that's a little bit more tricky than we may think. When we start to put in internal controls, we typically think, well, that's a good control just broadly to put in place. We might think that internal controls are universal and they're the same for any type of organization, but really internal controls are something that need to be customized for a particular organization and in order to do that, we got to be pretty specific as to what a typical procedure is aimed at achieving in terms of these general goals when we start to look at the actual procedures.