Fraudulent Schemes

hypocriteulent Schemes Fraud is peerless of the fastest growing problems that businesses and corporations be veneering both internally and externally. Accountants however ar an all important(predicate) performer in the detection of corporate antic and deterring employees from committing double-dealing acts such as sliver, change larceny, and billing schemes. We will probe how these two-faced acts are committed, how they crumb be baffleed, how it can be detected, and if manageable how it can be resolved. In guild to prevent the fallacious acts we must understand how and why the fraud is committed. Types of Fraud and streak Skimming is the theft of hard currency before it is bring fare outed into the accounting system. It largely involves the theft of sales or run that are neer recorded on the books and the employee or pillager pockets the money. There is a great deal tell-tale signs that cash skimming is occurring: when the cash sales or deposits are di fferent from figure patterns, discrepancies in gunstock, overages and shortages of cash, a decrease in cash advantage while checks and credit cards endure the same, and a correct in gross profits. Any adept or faction of these characteristics could yield evidence of cash skimming. (Wells, Principles of fraud examination second ed.

, 2008) Cash skimming can be prevented and detected by enhancing the internal controls regarding cash flow. Skimming can be through by any employee that is in a position where they go cash or where goods and money enter the business. Surveillance is one method can be apply to phy sically assist deter employees from stealin! g. Internal controls could include deepen analytical procedures, inventory audits, analyzing gross profits, using reconciliation of ordered sales proceeds and cash flow statements, and implementing a utmost sense of an honest culture from the top of the organization down through separately employee. (Biegelman, 2004) Another type of fraud is cash larceny which is when cash is taken from an employer without the...If you want to get a full essay, order it on our website: BestEssayCheap.com

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