What is internal control and how can it protect a companys assets? What are the various internal control procedures with respect to cash receipts and payments?

What is internal control and how can it protect a companys assets?
What are the various internal control procedures with respect to cash receipts and payments?
When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side?
Why do journal entries need to be prepared after completing the bank reconciliation?
Provide three example accounting journal entries with a description of the adjustment.