One of the cash fraud is skimming, It is done before got it recorded in books. | |||||||
So skipping is done before getting it detected by the accounting ststem. | |||||||
Some of the example of skipping are: | |||||||
a) Reporting under cash sales by giving discount to the customers | |||||||
b) Unrecording cash sales | |||||||
c) Not recorded receivable receipts | |||||||
Skipping is more difficult to identify than Larceny, as happen before come to | |||||||
the accounting. It is more happending in a cash oriented business like small | |||||||
retail business. By adopting effective control like CCTV, segregation of one | |||||||
point transaction and creating tight control relationship business environment | |||||||
skimming can be avoid to the minimum. | |||||||
The Fraud Tree Asset misappropriation Cash Berventory and other als Laren Ware F Purchase Ches Fored...
Discussion Topic: The Fraud Tree Asset misappropriation Cash Inventory and ether assets Laren Lace Fee canced Pem he Fle Oversla Alle Fund rebrimento This illustration is known as the "Fraud Tree" and depicts various ways an employee can misappropriate assets. Notice there are three main ways employees can embezale cash: skimming, Larceny, and fraudulent disbursements. Pick one of the boxes under "Cash" and explain how an employee would embezzle money under this scheme What internal controls can management put into...
This illustration is known as the “Fraud Tree” and depicts various ways an employee can misappropriate assets. Notice there are three main ways employees can embezzle cash: skimming, larceny, and fraudulent disbursements. Explain how an employee would embezzle money under this scheme. What internal controls can management put into place to prevent this type of embezzlement? Requirements: I picked larceny